H.R.C.U. offers new services to members
In terms of financial muscle, the Holy Redeemer Credit Union has long been playing in the big leagues side by side with Belize’s major banks. But with access to only a limited range of services, many H.R.C.U. members still had to rely on the commercial banks to handle their financial needs. But times are changing, even on Hyde’s Lane as News 5’s Jacqueline Woods found out.
Jacqueline Woods, Reporting
In May, the Holy Redeemer Credit Union will be celebrating its sixtieth anniversary. But as the oldest lending institution in the country gets ready to observe its diamond jubilee, H.R.C.U. is the first in its league to offer twenty-four hour ATM and night depository service to it’s thirty-five thousand, five hundred members.
Clement Usher, Financial Controller, H.R.C.U.
“Well it’s a service our members have been asking for a long time and we have been looking around for a company through our software expert who takes care of our computers for us and he was able to locate one for us last year. Since then we have been working on it and we are mow ready to start operating.”
Because H.R.C.U. encourages its members to save rather than withdraw, its board of directors may have been reluctant in providing the service because, as anyone who has access to an ATM knows, the machine does allow people to withdraw more than the amount they really need. H.R.C.U. says while it will continue to discourage its members from withdrawing their savings, financial controller Clement Usher says the new ATM service will complement the credit union’s recent introduction of checking and special savings accounts.
Clement Usher
“Well we really don’t consider ourselves as being in competition with the banks. You know we work in cooperation with the banks because we do a lot of business with them, but as far as our members are concerned they were asking for the service and we figure it was time for us to pay attention to what they were asking for and hence the reason why we decided now was the time to do the ATM service, the night depository allowing them to have access to their accounts twenty-four hours a day, seven days a week, and also the fact that the checking account will also give that same service as the ATM will.”
To access any of the two ATM machines you will need a card, pin number and an H.R.C.U. account. The cards are available at the credit union, but for now first preference is being given to those members whose salaries are sent directly to H.R.C.U.
Clement Usher
“So that they can make their loan payments or savings, they would be able to access their money whenever they want and those are the ones that we are probably going to start with first to get them up and running so that they can have access to this service as quickly as possible.”
A twenty-four hour security service is also offered so members should feel quite safe using the machines at any time of day or night. Reporting for News 5, Jacqueline Woods.
The H.R.C.U. boasts assets of close to two hundred million dollars.
