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May 29, 2003

Caribbean credit unionists meet in Belize

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Somewhere between the banks and…under the mattress, the credit unions of Belize are one of the most popular places to safeguard your money. This week members of the Caribbean Confederation of Credit Unions are in Belize City for the C.C.C.U.’s quarterly board meeting. The organisation represents credit unions from nineteen countries of the region and according to its president, Jocelyn Jolly, the emphasis must be on continuously improving service.

Jocelyn Jolly, President, C.C.C.U.

“The development that we’re doing within the region, Belize is a part of that development in terms of strengthening the movement within each country. Belize has a credit union league, and what we are doing at the movement is working along with the league, through the league, because the league is the member of the confederation, to strengthen other credit unions within the countries, which are members of the league. In Belize there are several credit unions and what we are doing is assisting the league within the region to make available to them technical assistance to seek external funding to assist with the development of the systems and strengthening of their processing systems, so that the movement within Belize, as well as other countries, can get up to what can be regarded as an acceptable safety and soundness standards.”

Gilroy Graham, President, Belize Credit Union League

“The credit unions in Belize are at different levels of development. There are some of them that are fairly advanced, have sophisticated management structure and are fairly capable of providing the service that they should be providing to their members. However at the other end of the spectrum, there are some credit unions that are weak and needs to be strengthened.”

“We need to build confidence in the movement. It’s through confidence that members save more in the credit union and we need to ensure that the end of the day the savings that those members put in those credit unions are safe and sound.”

Of the fifteen active credit unions in Belize, thirteen are members of the Belize Credit Union League.

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