Belize Banks & Credit Unions
Belize Banks have three types of banking in the country, including domestic, international, and Credit Unions. The banks in Belize are mounted and controlled by Belize Central Bank. Banks in Belize are located in Belize City and throughout the country. Below you will find a list of all three types of Belize Banking for your reference:
Central Bank Licensed Domestic Belize Banks
Belize’s domestic banks offer traditional banking services. Including consumer and commercial loans, sale of foreign currencies, credit cards, savings, checking and time deposits ,also banks provide letters of credit and bank guarantees.
Domestic banks are licensed in Belize under the Domestic Banks and Financial Institutions Act.
Domestic Banks licensed in Belize:
Belize Central Bank Licensed International Belize Banks
Belize’s international banks offer traditional banking services in foreign currencies exclusively to non-residents. Offering advantageous lending rates to those clients. Services and products include personal and commercial loans, brokerage services, foreign exchange, credit cards, savings, demand and time deposits.
International banks are licensed in Belize under the International Banking Act. The Act establishes two categories of international banking licence in Belize Banks: an “A” Class – Unrestricted licence and a “B” Class – Restricted licence.
International Banks licensed in Belize with an “A” Class – Unrestricted licence:
International banks licensed in Belize with a “B” Class – Restricted licence:
*** There are presently no “B” class international banks licensed in Belize.***
Belize Central Bank Registered Credit Unions
Credit unions, being one of the types of Belize Banks, operate as non-profit cooperatives. They function as savings banks, offering mainly savings accounts, consumer, and above all education and residential loans.
Belize Credit unions are registered under the Credit Unions Act.
Credit Unions registered in Belize:
La Inmaculada Credit Union Ltd.
5 Park Street
Orange Walk Town
Orange Walk District, Belize
Telephone: +501 322-2358 or +501 322-3520
Mount Carmel Credit Union Ltd.
37 Church Street
Benque Viejo Town
Cayo District, Belize
Telephone: +501 823-2003 or +501 823-2566
Belize Credit Unions located in Belize City, Belize
Evangel Credit Union Ltd.
Princess Margaret Drive
Belize City, Belize
Telephone: +501 227-0063
Holy Redeemer Credit Union Ltd.
1 Hydes Lane
P.O. Box 544
Belize City, Belize
Telephone: +501 224-4320 or +501 224-5644
Police Credit Union Ltd.
c/o Belize Credit Union League Ltd.
7 Daly Street
Belize City, Belize
Telephone: +501 223-0495
St. Francis Xavier Credit Union Ltd.
79 Corner 5th Avenue & 1st Street North
Corozal District, Belize
Telephone: +501 422-2892 or +501 422-0075
The Belize dollar is the official currency of Belize and is pegged at BZ$2 = US$1.
The Central Bank of Belize Act gives the Bank the sole right to issue notes and coins in Belize, because only such notes and coins issued by the Central Bank of Belize are legal tender in Belize.
With this in mind Central Bank protects the integrity of the Belize currency notes. Within the bank it is committed to continuous review, as a result of enhancing the design and security features. Bank notes remain strong and well secured against counterfeiting threats. The notes are designed so that, they are difficult to reproduce. At the same time, as a result protecting the public to readily distinguish between genuine and counterfeit notes.
Central Bank of Belize ~ Government of Belize Notes
On 1 June 1973, British Honduras was officially renamed Belize. In 1974, the first Belize Bank notes under the Government of Belize were put into circulation.
The first notes issued under the Government of Belize maintained the colours and design of the Government of British Honduras. The Government of Belize designed the notes from the fourth issue of bank notes. The first issue dated 1 January 1974, circulated with five denominations. Those included $1, $2, $5, $10 and $20’s. Subsequent printing of these notes is dated 1975 and 1976.
On 1 January 1981, the Monetary Authority of Belize demonetized all notes issued under the Currency Ordinance 1965. The Government of Belize notes, therefore are not legal tender of Belize and are redeemable only at the Central Bank of Belize. These notes were demonetized in 1981 and these coins issued under the Government of British Honduras are still legal tender of Belize.