The Saint Francis Xavier Credit Union (SFXCU) Limited has been on Ambergris Caye for over 10 years and it is estimated that ¼ of the island’s population is a member of the organization. And now the credit union is reaching out to a new set of member, the students on the island. On Wednesday May 21st, the staff of the SFXCU visited and met with business and general studies students of the San Pedro High School.
According to Lina Martinez, SFXCU San Pedro Branch Manager, the purpose of the visit was to encourage students to save. She explained that from the show of hands, the majority of the students have not learned to save and most of the initiative to save has to come from their parents. As part of SFXCU’s education program, they are reaching out to the student population and showing them some of the benefits that come with being a member. “The main purpose is to teach students to save. It is very important for youth to learn to put aside some of the cash they are receiving and even build up a savings and use their money in the future for their own benefit. SFXCU does have a student’s saving program, and some can even benefit of a student grant,” explained Martinez.
As part of their meeting with the students, the staff of the credit union got them involved in a “Mad City Money” activity. “The purpose of the exercise was to encourage students on how to make sound financial decisions, budget properly and use their money wisely and prepare them for the future,” said Martinez.
Staff and members of the Belize National Credit Union league also joined in the school visit and assisted in sharing information about the credit union system in Belize.
The SFXCU was founded in 1947 and has over 22,000 active members in four different branches (Corozal Town – Main office, San Pedro Town, Sarteneja Village and Caye Caulker Village), making it the second largest credit union in Belize. To learn more about the SFXCU, you can visit them at the corner of Pescador Drive and Ambergris Street in San Pedro Town.
