Participants

Credit unions play a vital role in the Belizean financial system. With 160,000 members, credit unions account for half of all banking customers in Belize. Yet credit unions only have 38% of the market share. This is because unlike commercial banks, credit unions have not been able to offer technology-driven banking products such as electronic and mobile payment options. Shared Services Network Limited (SSNL) is a payment system operator that is licensed by the Central Bank of Belize to provide an electronic platform that will allow credit unions to electronically transfer payments to any credit union account or bank account in Belize. SSN’s electronic funds transfer service will allow members of participating credit unions (PCUs) to send and receive funds from any credit union, commercial bank, the Treasury, Customs, and Income Tax departments.