It was more than just a meeting, it was a celebration of community, accountability, and the power of participation. The Holy Redeemer Credit Union’s Annual General Meeting brought together members from all walks of life to reflect on the past year, celebrate major financial milestones, and shape the future of one of Belize’s most trusted financial institutions. From impressive growth figures to a surprise shake-up on the Board of Directors, the AGM had no shortage of memorable moments. And as News Five found out, it’s a space where voices are heard, leadership is chosen, and the spirit of unity is alive and well.
The Holy Redeemer Credit Union’s Annual General Meeting isn’t just a yearly routine, it’s a powerful moment where transparency, teamwork, and shared goals come to life. It’s a chance for members to stay informed, have their voices heard, and help shape the future of their credit union.
Clement Usher, Chief Financial Officer, HRCU
“HRCU has a very young membership base which is the reason why we can successfully run our burial scheme program. Interestingly, other than in the under-eighteen category, the females outnumber the males in every other category and, in some cases, by large amounts. The older categories, age seventy-one and above, tell us that females are living longer than males.”
The AGM is a chance to look back at the past year, celebrating wins, learning from challenges, and giving members a clear picture of how the credit union is doing financially.
Wendy Castillo, President, Board of Directors
“Dollar value of loans issued valued at 1.1214 million dollars. The number of loans issued during that financial year to you, member owners, was 17,288 loans. The total gross profit is 48.3 million dollars. Our total net profit is 26.8 million dollars. Dollar growth in total assets is 54.4 million, resulting in a total asset today of 828.3 million dollars. Net growth in membership, we grew 866, ending the year with a total membership at HRCU of 65,580-member owner. Please give yourselves another round of applause.”
This gathering brings together a rich mix of people from both the school and parish community, creating a space where open dialogue is encouraged and feedback is welcomed. It’s a moment that strengthens the bonds of unity and reminds everyone of their shared purpose. The meeting also allows for the election or reaffirmation of board members and other key roles. This ensures strong, representative leadership that reflects the values and needs of our community.
Dr. Carol Babb, Vice President, Board of Directors
“The Chief Finance Officer and Human Resource Manager convened on May 2nd, 2025 and is recommending the following persons for election and re-election. The Nominating Committee has recommended Mr. Albert Vaughn to be re-elected as a member of the board. I will go through one-by-one, but I will just go through all the names that the nominating committee has recommended. For the Credit Committee, the Nominating Committee has recommended Mr. Jermaine Hyde. For the Supervisory Committee, the Nominating Committee has recommended Mr. Warren Coye for re-election. So now, we will go for election for the Board of Directors. As I said earlier, the Nominating Committee has recommended Mr. Albert Vaughn. However, the floor will be opened for one minute… and the floor can recommend any person that you so desire.”
During a brief sixty-second nomination window, the floor put forward the name Ronnier Balan—and just like that, the momentum shifted. Balan went on to unseat City Administrator Albert Vaughn, securing a spot on the Board of Directors. It was a dramatic moment that highlighted the power of participation and the importance of every second in the democratic process. With members watching closely, the vote signaled a call for fresh leadership and new ideas within one of Belize’s most trusted financial institutions. Isani Cayetano for News Five.