A LARGE number of garment workers trooped to City Trust Bank’s branch in San Antonio on Friday to withdraw their deposits, allegedly after hearing news that, like Bank of Saipan, City Trust would also temporary withhold their money.
Two of the bank’s depositors lost their money to robbers on Thursday, police said.
The management of City Trust Bank, the Department of Commerce and the Saipan Garment Manufacturers Association on Friday “pacified” the garment workers and condemned the “misinformation” campaign that resulted in the massive withdrawal of deposits.
Lulu Johnson, City Trust Bank assistant vice president and acting manager, said City Trust “remains stable and viable.”
She said the tension started at around 10:30 a.m. on Friday when a big group of workers went to City Trust Bank in San Antonio to withdraw their deposits.
The bank’s management immediately alerted SGMA, the employers of the workers and the Department of Commerce about the situation, Johnson said.
She said an employee of the bank, along with the authorities, explained to the workers that the bank was in good shape, and encouraged them not to believe what they had heard from their co-workers.
“By 2 or 3 p.m., the tension was somehow diffused. We told them that there was no need to panic. It’s business as usual at City Trust,” said Johnson.
She said the workers “were all able to withdraw” their money.
“These workers did not close their accounts with us. They just withdrew money,” she added.
Johnson said City Trust’s goal is to become a member of the Federal Deposit Insurance Corp.
According to SGMA Executive Director Richard A. Pierce, notices written in Chinese characters had been posted at City Trust Bank to inform the workers that only Bank of Saipan is under receivership.
Two women were robbed by three persons shortly after they withdrew their money from City Trust Bank’s branch in San Antonio on Thursday afternoon.
One victim lost $2,200 while the second lost $1,600, a passport, a savings booklet and an entry permit, according to the Department of Public Safety’s spokesman, Police Lt. Pete C. Muna.
Muna said investigation showed that the suspects were Chinese and one of them was even seen inside the bank when the victims were making withdrawals.
A security officer reported to DPS the robbery on Thursday at 2:26 p.m.
A responding police officer learned that after getting their savings, the victims proceeded to Beijing Store and Remittance Co. near UIC’s factor to send their money to China.
As they were walking in front of Y.T.T. Gold Building, one of the suspects ran between them and pushed them down to the ground.
The two other suspects then grabbed the bag from the victims while they were on the ground. The victims tried to hold on to the bag, but the robbers managed to pull it away.
Muna said the investigation was ongoing.
Last April 12, two masked men staged a broad daylight robbery at City Trust Bank in Gualo Rai and got away with an estimated $6,000 cash. The case remains unsolved.
