The House of Representatives has passed a resolution to send to John Wade, Chief Executive Officer of ANZ- Guam, to address the many complaints regarding ANZ’s customer service and banking fees assessed at the American Samoa Branch. The House urges Wade to find mutually favorable solutions that will be beneficial to ANZ Bank and its American Samoa patrons.

According to the resolution, which was introduced by Tualauta faipule Larry Sanitoa, the Australia and New Zealand Banking Group Limited, commonly known as ANZ, has been operating in American Samoa since 2001.

It is one of two banks that have been assisting the territory for the past decade, and since the recent announcement of Bank of Hawaii’s departure and the dramatic slow-down in services, ANZ is the only fully operating bank in American Samoa.

“The US Congress enacted the Community Reinvestment Act in 1977 to encourage depository institutions to help meet the credit needs of the communities in which they operate, including low to moderate-income neighborhoods, and consistently employ safe and sound operations” says the resolution.

“However, the local ANZ bank’s stringent personal loan policies make it difficult, if not impossible, for an individual resident to receive a personal loan, even if they have excellent credit score.”

“Local business owners have also shared frustrations with their attempts to secure business loans. Many have held that it is difficult to even get an appointment to see a bank official and if their loan application is approved, the interest rates are high with shorter repayment terms for both principal and interest.”

The resolution goes on to say that the general consumer complaints include the shortage of tellers at the two branches, which have residents waiting for two to three hours for simple deposit or withdrawal transactions. These simple transactions, the resolution notes, also incur a fee or have a limitation on how much you are allowed to withdraw per day.

Another concern raised by Sanitoa in his resolution was that the Bank statements are mailed from Guam and they are always either late, or are not received at all.

“Customers have also complained that there were instances where they would receive another person’s bank statement with their own. This is a grave concern as it could lead to identity theft.”

“These issues and complaints were raised in the House Commerce Committee hearing in February 2014 and there has been very little, to any, improvements made to accommodate the multitude of complaints — or any justification to the mounting fees that are affecting the residents and business owners of the territory.”

Sanitoa notes while the people are appreciative of ANZ Bank being a part of the community, especially in light of it remaining while BoH decided to “end its relationship with the community,” consumers are “frustrated by the poor customer service, the lack of tellers, the mounting bank fees, the high interest rates and the long turn-over time for loan approvals or bank appointments.”

He said, “almost all customers would like to find an amicable solution to these many complaints and develop a better relationship between the bank and its patrons.”

According to the resolution, “It is important that ANZ properly address the pleas of its customers in American Samoa.

“It should do so by looking less at profits and margins and more at developing a lasting relationship with the people of the territory.

“It should do so by looking at addressing the crammed lobbies and the long lines of people who wait hours just to perform simple and single transactions.

“It should also do so by looking at teller fees that claim to promote ATM-driven transactions when ANZ ATM machines cannot receive deposits or are temporarily out of service.

“It would be prudent to take into account the market and demographics associated with its American Samoa locations and create policies that would surely build and develop a cordial and effective partnership that will last for years to come,” it states.

The Fono through the resolution requested Wade to address the influx of complaints on ANZ’s customer service and the multitude of banking fees assessed to its American Samoa patrons.

The Legislature further requests that ANZ find mutually advantageous solutions and create policies that will address the frustrations of its customers.

A copy of this resolution is being transmitted to Wade, with copies to Governor Lolo Matalasi Moliga, Chairman of the Board, and all board Members for ANZ Bank; Mr. David Gonski, Mr. Martin J. Gruenberg, Chairman of the FDIC Board of Directors; and Congresswoman Aumua Amata Radewagen.