The Virgin Islands Deposit Insurance Corporation (VIDIC) recently held decal installation and membership ceremonies for six banks operating in the territory, marking a significant step in the region’s financial regulatory framework.
During the ceremonies, Banco Popular de Puerto Rico, National Bank of the Virgin Islands, CIBC, FirstBank Puerto Rico, VP Bank and Republic Bank received their official decals and membership certificates, signifying their compliance with VIDIC requirements and regulations.
The event represents an important milestone for the banking sector in the Virgin Islands, as the member institutions demonstrated their adherence to the deposit insurance corporation’s mandates and standards.
The decals, which will be displayed at the financial institutions, serve as visible symbols of the banks’ participation in the deposit insurance program, offering reassurance to customers about the security of their deposits.
