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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 pm 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 its capacity – and tried its best this afternoon for its 78th Annual General Meeting.

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

And they will be hearing lots of good news, starting with a dividend of 4 percent and a loan rebate of 10 percent for qualifying loans.

The Credit Union’s 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’s grown big enough to have its own correspondent banking relationship, by permission of the Central Bank.

The Credit Union has completed its Jane Usher Building adjoining Hodapp House on Hydes Lane; is planning an expansion of its Independence office and has purchased a building in Belmopan for new headquarters to be named in honor of former president Fred Smith, a long-time public officer.

And it continues to offer coverage of burial funds, affordable housing in the Eagle JEM Estate on the Philip Goldson Highway, and education grants.

Members will also be asked to approve the transfer of engagement for Evangel Credit Union to HRCU after the Board approved it in January.

More to follow.

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