7 News Belize

LICU Member Pressures Management With Petition
posted (July 24, 2015)
For months now, the La Immaculada Credit Union has been under pressure from its membership who are demanding disclosure after their General Manager was suspended in May. Now, a group of members, who are also shareholders want a general meeting to be held and a divided to be declared. To do that, they need the signature of one thousand members. Today they held a signature drive in the Orange Walk Central Park - and Estella Torres told us why they are doing it:..

Estella Torres, MEMBER - LICU
"I think the credit union is not answering to the members because every year we have our AGM but this time they cancelled the AGM in June. After that they have not called it again so it should be from the last week of April or the first week of May, but right now it's July going to august and we can't get any answer."

Jules Vasquez
"Are you concerned about your savings?"

Estella Torres, MEMBER - LICU
"Well we are concerned of our savings, but we are not concerned in our dividends."

Jules Vasquez
"Okay and you need your dividends."

Estella Torres, MEMBER - LICU
"We need our dividends."

Jules Vasquez
"And previously you used to get it all the time?"

Estella Torres, MEMBER - LICU
"Every year, when the AGM finished, they give the dividends to the members. That's why we are taking the signatures because we will send a letter to the board with the signatures and the letter. To make them see that not only the five of us are asking for it, but that the people are asking for it."

Jules Vasquez
"Are you convinced that by the end of the day you will have a thousand?"

Estella Torres, MEMBER - LICU
"Yes, because we have people going around the villages and taking signatures. So when we bring it whole, we will try to get it today."

Torres told us that at the end of the day, they got 600 signatures at the park - but have to tally other sheets from the villages to know the exact number. The credit union has over twenty thousand members.

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