Heritage Bank Limited, that's the current name of the domestic bank, but back when this institution first opened its doors, it was known as the Alliance Bank of Belize. 2 decades have passed since then, and today, the management and staff of Heritage celebrated their 20th Anniversary.
It would have been a reason for fanfare, but because mass gatherings are illegal due to the COVID-19 pandemic, the Bank had to settle for a virtual ceremony to note the occasion.
They invited 7News to tune in, and our Daniel Ortiz reports:
This morning, the management and staff of Heritage Bank celebrated their 20th Anniversary as a financial institution by saying thanks to the Belizean customers who supported them through all the phases of their maturation process.
Stephen Duncan - Managing Director, Heritage Bank
"Our legacy started 20 years ago with less than 20 staff when a group of Belizean investors recognized the need to provide banking services within a more local context. They decided to apply for a banking license, and Alliance Bank of Belize limited came to being in January 2001. This entity has evolved into Heritage Bank Limited, a full-fledged banking institution, making a meaningful contribution to the development of Belize and transforming the lives of its employees and its customers."
Since that initial investment, Heritage has developed over 2 decades to its present operation, which includes 12 bank branches countrywide.
The institution is now looking to expand its online presence to bring a greater level of services to its customers, using technology.
William Ysaguirre - Director of Operations and IT, Heritage Bank
"We continue to invest heavily in technology to provide a range of secure, electronic delivery channels. We have partnered with industry-leading, international service providers, such as CISCO and Dell, to deliver on the needs of our customers."
The bank's total assets are now over the half-a-billion dollar mark, and so, they are making it a point to give back to the neediest members of our society. And that's why they want to strengthen their partnership with Hand-in-Hand Ministries, which builds homes for low-income families.
John Palacio - Host "Heritage Bank is donating 1 house every month, this year to a deserving customer. That's a total of 12 homes."
Irene Alamina Duncan - Manager, Administration, Heritage Bank
"The application will have to be filled in completely. We have set criteria, and that involves the income, the standing of the family. We look at who is most in need, and so, we will vet the application."
And while that's a goodwill gesture to families in need, the bank's management is also looking with compassion on its customers with loans that they are struggling to pay off, especially in these harsh COVID times. The Managing Director says that it will have to be an honest give and take to benefit the two sides.
Stephen Duncan
"Discussions have been taking place ever since COVID started among ourselves to try to see how best we can ease the situation in the market to help as we go along. We cannot change that. And in fact, it will be dictated, I believe, by the market itself. Once you give a loan to somebody, you don't just go and ask the person to repay you because they don't have the resources to repay you. And so, at the end of the day, it comes down to trying to work with that individual, to
try to get through the situation they face, and as best as possible make it work for the benefit of both parties. We can see that 2021 will be dominated by that kind of activity, to try to help people through this situation. And each case will have to be taken on its own merits."
As you heard, these 12 houses, donated a pace of 1 per month, will be their signature charitable event for this year.
A press release from Heritage says, quote, "Customers of Heritage Bank Limited who earn $1,200 or less monthly, and have a clear housing need, qualify to apply. Application forms can be collected from any of our branches countrywide or from our website." End quote.
