Saint Martin’s holds AGM Print E-mail
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Written by Administrator   
Friday, 14 June 2019 00:00

The Saint Martin’s Credit Union SMCU recently held another successful Annual General Meeting at the Sacred Heart Auditorium in San Ignacio Town. For this year, the agenda was short as the Board of Directors remains the same as of last year.

President of the Board of Directors remains as Dr. John Morris, Vice President Mr. Rene Torres, Secretary Elmer Juarez, Treasurer Carlton Mckoy and Education Officer Mr. Doroteo Balan.

Several important positions in the effective management of SMCU also remain the same. Chairperson of the Credit Committee within the SMCU is Mrs. Santo Tesecum and of the Supervisory Committee is Mrs. Irma Sanchez. Both Ms. Karen Arnold and Ms. Laura Sierra are also members of the Supervisory Committee. From year to year, these members receive little or no remuneration for their work in keeping the Credit Union buoyant.

With the years ensuing, the SMCU has had its almost predictable modes of growth and spurts. Just in 2018 the membership stood at 9,100 a 6.2 increase from 2017. Such strength in numbers generated $1.45 million dollars, a 9.3% increase from last year.

The financial pool at the SMCU has not remained static either, but instead $13,443,804.00 were injected as loans into the local economy. From 2018 to 2019, some 9,405 from 9,657 loans were approved towards those positive outcomes.

Also, at this time, the SMCU assets stands at over $33,000,000.00 dollars, an increase of over 4.5 million from last year’s status. However; interests on deposits are very low.

In the outlook, the SMCU is working with the Central Bank of Belize to be connected with other banks and credit unions in January 2020. This will represent a game changer as the SMCU comes to embrace the digital era.