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The BNTU is On their Way to Finalizing Banking Opportunities with Other Institutions

The Belize National Teacher’s Union continues consultations with various banking institutions around the country where they can potentially set up accounts. This comes after the union publicly announcing that they will be withdrawing their funds from the Belize Bank Limited. This was done to show their solidarity with their sister union, the Christian Worker’s Union (CWU) based on the Supreme Court’s ruling for an interim injunction on the ex gratia payment of one point five million dollars from the Government of Belize to the Stevedores. The President of the Belize National Teacher’s Union, Elena Smith, gave an update on that process.

Elena Smith, President, Belize National Teachers’ Union: That’s the reason why the union met with the various banks. To look at what it is they have to offer and to see how those districts, those areas who have limited financial institutions, what would be the better option for them so that their members can still access, you know, their benefits. They are still able to do their transactions. They are still able to work with the union with whatever bank is available to them in those areas and so every district has at least one more option other than Belize Bank. It is just for the branch to now determine now if that option there, or which of the other two other options, for example, they may have a credit union and they may have another bank. So which of those two is best suited for their members and that is the process that they are doing and at the end of that, once they are satisfied that that is what’s best for their members, in addition to what we have given them in terms of information then they will make that switch but some are already in process.”

Smith states that she is hoping that this process can be completed within the next week.