Overview of ILCU Foundation Support:

Support from the Government of Belize and the International Fund for Agricultural Development in early 2014 provided the ILCU Foundation with an opportunity to partner with the Belize Credit Union League (BCUL). The aim of the partnership is to enhance and strengthen the BCUL and its affiliated credit unions through training and mentoring. The ultimate aim of this type of support is to ensure that credit unions can provide enhanced services for their members. At the end of 2015, the movement’s total shares and deposits amount to €284,064,406, while loans outstanding amount to €225,449,534.

Key Objectives & Activities in 2015:

  • ILCU Foundation is providing support in the development of the new BCUL monitoring regime:
    • Ongoing advice setting up the BCUL monitoring function
    • Advice on conducting desk audits
    • Proficiency training for the internal audit function
    • Assistance in building a stabilisation facility
  • ILCU Foundation will provide an evaluation of the BCUL Strategic Plan:
    • Evaluate the progress made on its strategic objectives since the adoption and implementation
    • Review the BCUL operational plan
    • Advise on modifications to the strategic plan
  • Developing national marketing campaigns and marketing materials for credit unions

Mr. Rene Torres Vice-President of St.Martins Credit Union Ltd

Technical Assistance provided by ILCU Foundation

  • Loan delinquency and provisioning
  • Stabilisation
  • Legislation
  • Strategic planning
  • Institutional assessment
  • Monitoring
  • Supervision
  • IT
  • Advocacy
  • Training development

At a glance

Population: 340,844

No. of credit unions: 8

No. of members: 124, 376

% living on < €1 a day: 33%

Life expectancy: 73 yrs.

Type of loan issued: Agriculture, construction, consumer personal, small business and transportation.