Member-owners of Holy Redeemer Credit Union (HRCU) began receiving their education assistance through the Henry Charles Usher Grant. The fund, named after the first local registrar of credit unions, is providing almost fifteen hundred of the credit union’s patrons with assistance just in time for the restart of the school year. Chief Finance Officer, Clement Usher spoke on the significance of the grant
Clement Usher, Chief Finance Officer, HRCU: “It started back out in 2005 at the AGM where we put it to the membership that we wanted to help the students of Belize especially those of our credit union with grants and it started out very small, probably about $60,000 and a hundred or so grants and it has grown now where we’re giving out almost $400,000 and about fifteen hundred grants each year. When we first started it was like in larger numbers but we’ve smallened it so that we can include more people and it’s really to help them with additional expenses besides what they have to meet like for tuition and stuff so every year we meet as a credit union and we put the applications out and the people apply and there’s a grant committee that approves these applications and then we distribute them on a day that we’re not really open to the public and that’s why we’re here on a Saturday.”
Education director, Doctor Carol Babb spoke on the importance of financial literacy. Finance Officer, Darren Leal added that this initiative and so many others tie in with HRCU’s commitment to corporate social responsibility.
Dr.Carol Babb, Education Director, HRCU: “We want to give back to member owners and I think education as you know is the greatest investment. We want to empower people to help themselves and so I’m very proud of this institution that we’re giving back so much to our member owners. We want to reach out to our members and help them even more. As education director I’m going to lead financial literacy training with our member owners. We want to encourage them, to empower them to save regularly, borrow wisely and pay back promptly.”
Darren Leal, Finance Officer, HRCU: “Our country right now is in a pandemic so of course HRCU giving back over $450,000 to our membership and to education specifically it’s such a milestone for us. I must say it’s a joy, it’s a good feeling to see our member owner students walking in and getting this grant because they know they can go home and deal with whatever financial constraint, whatever bills they have to pay and HRCU came through for them. So it’s certainly a joy for us at HRCU. We are built on the philosophy of people helping people so for us to help our member owner this way it’s such an experience, it’s a joy, something we are so happy to be doing on an annual basis and something we plan on continue doing for the future and so like I said it came in at such a time where our country is faced with this pandemic. We’ve heard the cries, we’ve seen the issues with the government in terms of the pay cuts and stuff like that so for us here at HRCU doing our part we are so happy for that.”
The grants altogether total more than four hundred thousand dollars. The funds are now available for every qualifying member-owner.