Butterfield Committed To Serving The 50+ Market
With a large portion of Barbados’ population made up of persons in the 50+ age range, Butterfield has taken the lead in providing products and services tailored specifically for this market.
At the 4th annual Butterfield 50+ Expo held at the Lloyd Erskine Sandiford Centre on May 7, 2011, Butterfield representatives came out in their numbers to educate patrons about proper financial management, particularly the benefits of savings, while Senior Manager of Commercial & Consumer Lending, Clive Newman, made a presentation to those attending the Expo’s “Speakers’ Bureau”.
Mr. Newman conducted an interactive session with the Expo’s patrons highlighting the benefits of savings, which he stated is a good habit to cultivate regardless of age.
The experienced banker, with over 30 years in the industry, working in the UK and Caribbean markets, said that saving, as is the case with borrowing, is just as relevant for someone in their 50s as it is for someone in their 20s:
“You may very well be looking to go on a cruise, or buy a second home. So there are a lot of reasons for saving, but the bottom line is that you need to plan for it…we can help you to achieve this because we have products for the over 50s where you can deposit certain amounts overtime and watch it grow.”
Some of the more attractive features of Butterfield’s Fifty Plus Savings account includes a bonus interest rate of 1 per cent above the regular savings rate for persons opening a Fifty Plus account with a minimum of BB$5,000; bank charges waived on select products and services; and the ability to track the progress of one’s account easily anytime during the day or night using Butterfield’s free online banking service.