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Credit unions perform strategic planning

Lorne Solis

Posted: Saturday, October 4, 2014. 5:03 pm CST.

Virgil Patrick

Virgil Patrick

Saturday, October 4, 2014. AARON HUMES Reporting: October is celebrated internationally as the month of credit unions.

Known as the “poor man’s bank”, the credit union is a source of affordable financing for Belizeans for almost any venture small or large.

But as the nation develops credit unions are confronting specific challenges in reaching key targets including the youth.

For the next two and a half days the six credit unions allied to the Belize Rural Finance Programme facilitated by consultants GBest Company Limited to discuss how best to reach out.

Lorne Solis

Lorne Solis

We spoke to Lorne Solis, program manager who says that for the last five years the programme has funded businesses and individuals in rural areas who need access to financing and run special promotions to welcome new members to the credit union movement.

Trinidad and Tobago based consultant Virgil Patrick wants participating credit unions to expand their thinking and policies with regard to reaching out to youth and other populations who benefit from having access to financing through credit unions.

The BRFP is a seven year program started in 2009 by the Government with funding from International Fund for Agricultural Development (IFAD), Central American Bank for Economic Integration (CABEI), and in partnership with the Belize Credit Union League (BCUL).

 

 

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