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Financial literacy!
Published on December 9, 2013 Email To Friend    Print Version

Financial literacy!

By Abdulmajeed K. Nunez

We can either be dragged down by our circumstances
Or look under the layers and transcend, making advances
We have to be like the wise serpent in the bible
And be flexible
We should not throw away the baby with the bath water
Father Gainney and thirty-two others decided they wanted
To address the economic conditions
Facing the Garinagu and Mayan populations
So they came up with an ingenious plan
To set up two credit unions
In both Barranco and the southernmost district in the nation

The Catholics and dedicated priests
Working with the people to bring relief, however brief
It wasn't call an organization but a movement
Because of the time, investment that needed to be spent
Championing the cause of financial independence
A movement is something in motion
from my observation engraining self and family
Into the financial culture of the nation
Has yielded great success in the Holy Redeemer Credit Union

I give credit to the Union League for developing competency
Now it time to teach our children financial literacy
Redefining poverty, we cannot wait on the Ministry
It should be a part of math, lifeskills, and an everyday activity
It's not just about saving money
It entails having knowledge and capacity to save and invest wisely
Networking other countries and forming cooperatives
Let the children save a dollar a day, develop local monopoly games
teaching aids, developing financial ways
There is a natural relationship with cooperatives and credit unions
like husband and wife walking hand in hand

It was and can be again Belize's most powerful financial institution
Helping to rebuild Belize in collaboration with Development Finance Cooperation
After the 1961 Hattie devastation
Meant to be the poor people's bank but to be frank
Other financial giants have taken over because the credit unions
Have not been keeping up with economic trends
Or does that depend?
Their interpersonal relationship with the grassroots level
Di dwindle
Rural credit financing sounds enticing
But in my estimation it's just the icing

Despite the fact that Barranco and Punta Gorda Credit Unions
Are no longer functioning
Reopening of the Commerce Bight port is a new beginning
This should bring these communities much needed financing
The hands of time are turning
I wonder if this is what TV Ramose was prophesying
Credit unions must start re assessing
Go back to the drawing board and start strategizing
Re-opening of the Commerce Bight Port will save the country
Millions in saving, if it’s Theordora Aranda they are consulting
The only credit union in Dangriga is the Citrus growers Association
Far removed from the town
Credit unions need to stop sitting down
But get busy canvassing around, putting their military boots on the ground
Give scholarships to primary schools; collaborate with high and primary school
Feeding programs; get into schools and do lectures
Become financial mentors
Children are potential investors
But they need creative, charismatic tutors
Like nectar, desperately needing advice from the financial czars
Reads: 4969

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