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Apr 26, 2000

HRCU records best year ever

It’s been just about the best 12 months in its 56-year history…and tonight the members of the Holy Redeemer Credit Union, the nation’s largest, will hear just how well their institution has done. According to an advance copy of the HRCU annual report the credit union grew by almost 17% and now holds savings of 89 million dollars and assets in excess of 120 million. Net income for the year was a record 9.7 million dollars and if members approve, the bulk of that will be paid back in the form of 6% dividends on savings and a 10% rebate on interest. When the rebate is figured in it means that the effective rate of interest on loans from HRCU is the lowest of any lending institution in Belize. In addition to the good financial news members who attend tonight’s meeting will as usual be eligible for thousands of dollars in cash to be awarded in raffles. The festivities at City Centre begin promptly at 7:30.

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