SAINT MARTIN’S CREDIT UNION
MINUTES OF THE 58TH ANNUAL GENERAL MEETING
Date: May 25th 2007
Venue: Macal River Park, San Ignacio, Cayo
Present: All Joint Officers except Mr. Jose Mendoza and Mr. Domingo Pacheco
MC: For the occasion was Ms. Christina Velasquez
The President Dr. John Morris called the meeting to order at 6:30 pm. The National
Anthem was played and sung with Flute Recorder by Bishop Martin R.C Elementary
School. The welcome address was delivered by the Vice-President Mrs. Irma Sanchez.
She emphasized that the Credit Union was truly a vessel where “people help people” and
that it was important for the leaders to get to know people as individuals and not just as
members and that we must also learn to appreciate the diversity of ideas, cultural as well
as generational. She challenged every member to invite a friend to join the Credit Union
so that the union can grow.
The minutes of the 57th AGM was read by Mr. Manuel Medina since the Secretary of the
Board Mr. Jose Mendoza was not present.
Matters Arising from the minutes was done by the President and the Confirmation of the
Minutes was accepted by Mr. Theodore Lennon, and seconded by Mr. Clemente Cruz.
The Reports of the various committees then followed.
The President of the Board of Directors, Dr. John Morris delivered the BOD Report for
the year commencing April 1st 2006 to March 31st 2007. He commenced by welcoming
invited guests from the Central Bank of Belize, Belize Credit Union League, Toledo
Teachers Credit Union, La Inmaculada Credit Union and from our sister Credit Union
Mount Carmel. The President noted that we had another successful financial year
especially given the competition from local banks and a sluggish and under-performing
economy which barely recorded a 2-3% growth in real GDP. Highlights of the year
included the completion of a parking lot, a successful computerization system, and very
low delinquency rate, significant increase in interest income, and increases in loans
assistance for education and t