A savings account isn’t just to use. It’s to dream.
Let’s make this happen.
Saving with LICU
At LICU your savings is guaranteed a maximum return of at least 6.5% dividend. Compared to others, LICU makes it easier to save and more affordable to borrow. We strongly encourage you to save because in doing so we are simply helping you to prepare for the future. Savings can be used for any purpose. The more savings you have, the more equipped you are to cope with the unexpected.
How often you save depends on sacrifices you make to put aside part of your income as savings. Once this practice becomes a habit, it will be easier to maintain a savings account and LICU would be the right place to start that savings.
It is very important for LICU as a financial institution to find ways to motivate members to save and borrow. Our popular Share Drive has proven to be the most successful of all techniques for members to increase their savings. For every $5.00 (1 share) that member saves, they receive one ticket which allows them the opportunity to participate and win in a raffle of attractive prizes.
Shareholder’s Benefits
Be a part of a democratically operated financial institution
- Earn dividends on shares/savings, regardless of the amount
- Automatic life savings and loan protection insurance
- Low interest rate of 1% per month on all loans
- Interest is calculated on the unpaid balance
- No minimum restriction on loan payments and savings Actual percent rate (APR) averages between 7.5% – 8.5% (not 12%)
- Low Group Term Life Insurance (Sunrise to Sunset) is administered by your Credit Union for your convenience
- Attractive 25% discount on all insurance coverage (vehicles, house, household items, life, etc.)
- Only $2.00 monthly premuim for sunrise to sunset Burial Scheme (Term Life Insurance)
Investment Benefits
It is very important for LICU as a financial institution to find ways to motivate members to save and borrow. Our popular Share Drive has proven to be the most successful of all techniques for members to increase their savings. For every $5.00 (1 share) that member saves, they receive one ticket which allows them the opportunity to participate and win in a raffle of attractive prizes.
Savings Account Requirements
A Savings Account can easily be opened with the following requirements:
$5.00 Fee
$10.00 (2 Shares)
Social Security ID
Passport
Savings Account Deposits
We provide our members with both regular and fixed deposits for their convenience
Fixed Deposits
Members can also have access to short term investments with returns. They can invest from $5,000.00 to $25,000.00 as per the table below:
1%
6 Months
1.5%
12 Months
We ensure that we offer the most competitive rates at all times with amounts that are within the reach of the common person.
Regular Deposits
LICU knows how important it is for you to have immediate access to cash at all times. Your deposit account allows you to have your cash safe yet accessible at all times using:
Over counter at our offices
5 Park Street
Orange Walk Town
2 Forest Drive
Belmopan City
The options above are all to ensure that you have ease of access and convenience. These benefits have been greatly enhanced with us being a part of NetworkOne to provide you with an added sense of safety as it allows you access to your funds via your ATM and POS countrywide and there is no need to carry around excess cash anywhere, anytime.
Profit Sharing
Instructions and requirements for withdrawing dividends and rebates
Download and fill out the form below. Include the signed form with the documents requested and dropped them off at any of our LICU offices or sent electronically to us by email of WhatsApp chat. The funds will then be available for withdrawal through the most convenient means for each member. The period for withdrawal requests of dividends and rebate is up to Friday, September 10, 2021.
Documents requested
- Signed form
- Copy of a valid Passport or Social Security Card
- A Utility bill no older than 3 months
Where to send
WhatsApp: 501-601-1530 \ 613-5121 \ 613-5122 \ 613-5128 \ 613-2873 \ 613-2875 \ 613-6095 \ 631-2481
Savings Protection
Life Savings is the member’s Shares and Regular deposit balances in the member’s accounts at the time of death.
La Inmaculada Credit Union Ltd. (LICU) provides you with the security that all your life’s savings at the Credit Union are secured by a coverage that is free of cost to YOU the member. It is an automatic benefit that commences on the day you open your account and protects you for your entire lifetime. It covers your life savings to a maximum of $8,000.00 as per the schedule:
| Age | Percentage |
|---|---|
| 0-6 MThs | 5% |
| 6 MThs to 54 yrs | 100% |
| Age 55 – 59 yrs | 75% |
| Age 60 – 64 yrs | 50% |
| Age 65 – 69 yrs | 25% |
| Age 70 or older | 0% |