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The Banks most important objectives are to maintain the external stability of the Netherlands Antillean guilder (NAf.) and to promote the efficient functioning of the financial system in the Countries Curacao and St. Maarten. To realize these objectives, the Bank, as the supervisory authority, has frequently recurred to credit control measures and/or to change the discount rate. The functions of the Bank, explicitly summed up in the Bank Charter, are; First, the Bank is the only institution entitled by law to issue paper money in the Countries Curacao and St. Maarten. The Bank also is charged with the circulation of coins. Second, the Bank supervises banking and credit institutions to guarantee depositors and other creditors funds at banking and credit institutions in particular and the soundness of the financial sector in general. Third, the Bank manages the foreign exchange reserves of the Netherlands Antilles, which includes regulating of the transfer of payments between residents and nonresidents of the Countries Curacao and St. Maarten. Finally, the Bank acts as the governments treasurer by receiving and making payments from and to the public through the tax collectors accounts at the Central Bank.
Mechanics Cooperative Bank is proud to be a local community bank, focused on support-ing the banking needs of local families and local small businesses. We have products and services that can match any financial institution and offer a more in-depth understanding of the local business market. Were responsive to your unique busi-ness needs and can react quickly to growth opportunities. Our philosophy is simple when it comes to serving our business customers – when your business succeeds, we succeed. Mechanics Cooperative Bank currently operates 9 branch locations throughout Taunton, North Dighton, Bridgewater, Fall River, Westport, Swansea, Somerset and New Bedford. Member FDIC. Member DIF. Equal Housing Lender. NMLS #421820
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