Holy Redeemer Credit Union Holds 78th Annual General Meeting; Reports asset growth of over $25 million

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Posted: Saturday, May 28, 2022. 2:46 p.m. CST.

By Aaron Humes: It’s safe to say that the Holy Redeemer Credit Union (HRCU) is one of the few institutions that can fill the Civic Center to capacity – and did its best this afternoon for its 78th Annual General Meeting.

Official attendance at the start of the meeting was 1,059 and more members are still pouring in. (Membership stands at 61,194, only a few thousand less than Belize City’s estimated population).

And they’ll hear a lot of good news, starting with a 4% dividend and 10% loan forgiveness for qualifying loans.

Credit Union gross profits are just under $40 million and net profits are $26.1 million, with asset growth of $25.7 million and 2,801 new members. It has grown large enough to have its own correspondent banking relationship, with the permission of the Central Bank.

The Credit Union has completed its Jane Usher Building adjoining Hodapp House on Hydes Lane; plans to expand its independence office and has purchased a building in Belmopan for the new headquarters to be named after former president Fred Smith, a longtime public officer.

And it continues to offer funeral fund coverage, affordable housing in the Eagle JEM estate on the Philip Goldson Highway, and scholarships.

Members will also be asked to approve the transfer of the pledge from Evangel Credit Union to HRCU after the board approves it in January.

More soon.


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