La Inmaculada Credit Union

What La Inmaculada Credit Union does

La Inmaculada Credit Union Ltd. (LICU) is a Belize-based, member-owned cooperative financial institution founded on June 5, 1949, in Orange Walk Town under Jesuit credit-union principles. It serves retail and small-business members across Belize through two physical branches (Orange Walk Town headquarters and Belmopan), a mobile banking application on iOS and Android, an online banking portal hosted on the third-party ShareTec platform, a 24/7 depository bin service, and the countrywide NetworkOne ATM/POS network partnered with Heritage Bank and National Bank. Its product suite includes 12 loan products spanning personal, agricultural (CRESAP, SCRP), healthcare (MediFlex), student, MSME, mortgage (HOGAR), line-of-credit (Flash Cash), debt consolidation, and seasonal lending (Easter, Holly Jolly, Back to School); savings accounts and fixed deposits; and member-benefit programs including the Sunrise to Sunset burial scheme, Prosperity Vision Scholarships, and Star Savers youth program. Embedded insurance is offered through partnerships with RF&G Insurance and Atlantic Insurance.

LICU's business model rests on net interest spread between loan yield (1% per month / 7.5%-8.5% APR) and member savings dividends (up to 6.5% on shares, 1%-1.5% on fixed deposits), supplemented by account opening fees ($5), minimum share requirements ($10), transactional fees ($1 depository bin), and insurance commission income. The cooperative is governed by a volunteer Board of Directors (President Mr. David Constanza, Vice President Mr. Gildardo Cervantes, Treasurer Mrs. Iris Reyes, plus directors), a Credit Committee, and a Supervisory Committee (Chairperson Mr. Leandro Osgalla). Regulatory oversight is provided by the Central Bank of Belize under the Credit Union Act, and the institution participates in the National Payment System for non-cash transfers.

LICU's customer base is horizontally segmented across individual members (primary), agricultural producers, students, MSMEs, and homeowners/prospective homeowners, with a clear emphasis on financial inclusion, agricultural credit access, and community-rooted retail banking in northern and central Belize. Differentiation versus commercial banks is driven by lower loan rates, higher savings dividends, free life savings protection up to $8,000, low-cost burial coverage, and personalized service through WhatsApp and direct branch contact, all anchored by 75+ years of operating history in Orange Walk.

Name

La Inmaculada Credit Union

Legal name

La Inmaculada Credit Union Ltd.

Website

https://licu.org

Company type

Private

Founded year

1949

Operating status

Operating

Headcount range

51–100 employees

Short description

La Inmaculada Credit Union is a Belize-based member-owned cooperative financial institution founded in 1949, offering savings, twelve loan products, mobile banking, insurance, and member benefits to retail, agricultural, student, MSME, and homeowner segments through two branches and countrywide NetworkOne ATM/POS access.

Ownership category

akta.pro rank

Product category

Credit Union Services / Retail Banking

NAICS

Credit Unions (52213), Depository Credit Intermediation (5221)

SIC

Personal Credit Institutions (6141), Functions Related To Depository Banking, Nec (6099)

akta.pro primary industry

Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)

akta.pro secondary industry

Agricultural & Rural Cooperatives (Farm Credit/Co-op Banks) (FSABAEAG)

Keywords

• Retail credit union services
• Consumer lending
• Savings accounts
• Mortgage financing
• Cooperative banking

Headquarters

HQ city

Orange Walk

HQ country

Belize

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D, Others

Revenue model

1. Loan Interest Income: Primary revenue from interest charged on loans including personal loans, mortgages (HOGAR), student loans, MSME loans, agricultural loans (CRESAP, SCRP), and seasonal loans. Interest rate of 1% per month on unpaid balance with APR averaging 7.5%-8.5%
2. Membership Fees and Shares: Revenue from $5 account opening fee, $10 minimum shares requirement, and transaction fees such as $1 depository bin service charge
3. Insurance Commission Income: Partnerships with RF&G Insurance and Atlantic Insurance for in-house insurance coverage, generating commission income on credit life and property insurance products

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels8 records

Core offering

La Inmaculada Credit Union is a member-owned cooperative financial institution in Belize providing retail banking services to its members. Its core offering includes 12 distinct loan products (personal, agricultural, healthcare, student, MSME, mortgage, debt consolidation, and seasonal), savings accounts and fixed deposits, digital banking via mobile/online platforms, bill payment services, and member benefits such as life savings protection, burial coverage, and scholarships.

Product overview

La Inmaculada Credit Union is a Belize-based financial institution offering a comprehensive suite of financial products and services. The core offerings include 12 distinct loan products (Personal/Consumer Loans, CRESAP agricultural loans, MediFlex healthcare loans, Flash Cash line of credit, Student Loans, MSME business loans, Debt Consolidation Loans, HOGAR residential mortgages, Sugar Cane Replanting Program loans, and seasonal products including Easter Loans, Holly Jolly Loans, and Back to School Loans) and savings products including regular savings accounts and Fixed Deposits ($5,000-$25,000). Digital services encompass Home and Mobile Banking via iOS/Android apps, 24/7 Depository Bin Service, Bill Payment Services, and Shared Services via National Payment System. Member benefits include Sunrise to Sunset burial coverage, Prosperity Vision Scholarships, and the Star Savers Program for children. The institution operates as a credit union with shareholder benefits including dividends and loan rebates, leveraging NetworkOne for ATM/POS access nationwide.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal/Consumer Loans General-purpose loans for personal and consumer financial needs with low interest rates of 1% per month, calculated on unpaid balance with APR averaging 7.5%-8.5%. Available to credit union members.
• CRESAP Loans Climate Resilient and Sustainable Agriculture Project loans supporting farmers with financing for grains (rice, corn, beans, soybean), aquaculture (tilapia, shrimp), vegetables, roots and tubers, fruit trees, livestock, and sugarcane production.
• MediFlex Loans Healthcare financing loans structured in three tiers: Primary Care (routine health screenings, basic dental, vision, mental health), Secondary Healthcare (childbirth, respiratory issues, major dental work, fertility treatments), and Tertiary Care (cancer treatments, organ transplants, major surgeries).
• Flash Cash Line of credit facility providing a preset borrowing limit that can be topped up after repayment, offering quick access to cash for members.
• LICU Student Loan Program Loan program for students pursuing further studies after Primary School, assisting members to pursue education within Belize, regionally, and internationally.
• MSME Loans Micro, Small, and Medium Enterprise Boost financing loans designed to help businesses grow, supporting entrepreneurs with flexible business financing.
• Debt Consolidation Loans Loan product to help members consolidate multiple debts, particularly in response to COVID-19 and economic challenges, consolidating two or more loans based on financial status.
• HOGAR Loans Residential mortgage loan program (Helping Ourselves Gain Access to Residence) with lowered fixed interest rates for constructing, renovating, or purchasing homes.
• Sugar Cane Replanting Program (SCRP) Agricultural loan product designed to assist sugar cane farmers achieve higher yields and become financially stable through replanting assistance. Delivered in partnership with SIRDI for verification.
• Easter Loans Seasonal loan promotion for members to plan and finance Easter vacation expenses with favorable terms for good-paying members.
• Holly Jolly Loans Holiday-season loan providing cash access for Christmas celebrations, designed to help members have a merrier Christmas.
• LICU Back To School Loan Seasonal loan to help members cover educational expenses for back-to-school needs.
• Savings Accounts Savings account offering a guaranteed maximum return of at least 6.5% dividend, with regular savings and fixed deposit options for members.
• Fixed Deposits Short-term investment deposits ranging from $5,000 to $25,000 with rates of 1% for 6 months and 1.5% for 12 months.
• Home and Mobile Banking Digital banking services accessible via mobile app (iOS and Android) and web portal for account management, deposits, and transactions.
• Depository Bin Service 24-hour deposit service at the Orange Walk Branch for deposits to shares, loan payments, or savings, available since 2019 at $1.00 per transaction.
• Bill Payment Services Over-the-counter bill payment services for utilities, cable, internet at Orange Walk and Belmopan branches, including Digicel and Smart top-up services.
• Sunrise to Sunset Burial grant membership scheme with maximum benefit of $4,000 for members aged 49 or less, and $2,000 for members aged 50 and above, at a $2.00 monthly contribution.
• Prosperity Vision Scholarships Scholarship program for members' children entering secondary or tertiary education, requiring minimum 3.0 GPA maintenance; in operation since 2004.
• LICU Star Savers Program Child savings promotion program encouraging thrift and savings habits from an early age to build a foundation for financial stability.
• Shared Services Network via National Payment System Automated transfer system and central securities depository facilitating non-cash transactions under the National Payment System framework.

Quantifiable outcome

• 1% monthly interest rate on loans (7.5-8.5% APR vs typical 12%+ at other institutions)
• +4 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature3 records

Partnerships

Five partnerships are on record, tiered core and minor.

• NetworkOne (Heritage Bank / National Bank)coreTechnology or IntegrationLICU is an affiliate of NetworkOne, enabling members to access ATMs and make POS payments across the entire country through Heritage Bank and National Bank ATM and merchant networks. LICU ATM cards are accepted at all participating financial institution locations.
• RF&G InsurancecoreStrategic or Co-development PartnerSustained partnership offering in-house insurance coverage options for members including vehicle, house, household items, and life insurance. Provides 25% discount on all insurance coverage, facilitating the loan process and safeguarding member assets.
• Atlantic InsuranceminorStrategic or Co-development PartnerPartnership for Credit Life Coverage required for loans above internal coverage limits. Implemented in-house at affordable premiums to facilitate loan approvals.
• SIRDI (Sugar Industry Research and Development Institute)coreStrategic or Co-development PartnerPartnership for the Sugar Cane Replanting Program (SCRP). SIRDI provides verification forms and certification for farmers seeking loans for cane replanting to achieve higher yields and financial stability.
• Central Bank of BelizecoreOthersRegulatory oversight by the Central Bank of Belize under the Credit Union Act. Sets regulatory procedures and compliance requirements for credit union operations.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Regional players

• Cooperative Bank of Kenya: While geographically distant (Kenya vs. Belize), it operates as a member-owned cooperative bank in a developing market context, offering a comparable member-focused value proposition with dividends and community-rooted banking.

Broad incumbents

• Belize Bank Limited: Largest commercial bank in Belize offering full-service banking to retail, commercial, and corporate clients. Competes for the same member pool as LICU but operates with significantly larger scale, branch network, and product breadth.
• Atlantic Bank Limited: Belize commercial bank offering full retail and commercial banking services. Comparable as a competitor for deposits and loans in the same Belize market, but operating under a for-profit commercial bank model rather than cooperative structure.
• National Bank of Belize: Belize commercial bank and NetworkOne partner providing LICU's countrywide ATM/POS access. Competes in the same Belize retail and commercial banking market with broader institutional capabilities.
• Heritage Bank Limited: Belize commercial bank that is also a NetworkOne partner enabling LICU's countrywide ATM reach. Competitor in the same Belize deposit and lending market with broader commercial banking capabilities but higher rates than LICU.

Direct peers

• Holy Redeemer Credit Union: A Belize-based community credit union offering similar member-owned cooperative banking services including savings, loans, and member benefits. Operates in the same regulatory framework under the Central Bank of Belize and serves overlapping community-banking demand in Belize.
• Saint Frances Xavier Credit Union: Belize credit union providing member-owned cooperative financial services. Directly comparable as a fellow Jesuit-affiliated Belize credit union offering similar savings, lending, and member dividend products to working-class Belizean members.

Others

• Belize Credit Union League: Industry association representing Belize credit unions. While not a direct competitor, BCUL serves as the umbrella body for LICU and similar credit unions, providing shared services, advocacy, and operational standards.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCcbrzD7i63DhEVeXCqxmu3g/featured
• Facebookfacebook.com/licubelize
• LinkedInlinkedin.com/company/la-inmaculada-credit-union-ltd

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about La Inmaculada Credit Union