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Monthly News from British Caribbean Banking Group Fun. entertaining. Informative.

 Market Square Staff Initiatives  BBIL Cares

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Corozal Branch Gives Back!

Inside this Issue

 The Gravest Hidden Danger of Debt 1

Consolidation  An Overview of BCSL  September Cook-off & Mixology Contest  What’s Happening  Branches Celebrate Caribbean Wellness Week  Welcome to the Family  October is Breast Cancer Awareness Month

Editor-In-Chief:

Mr. Filippo Alario

Contributers: BBIL Marketing Department, Elizabeth Zetina, Corozal Branch, Alex Nolberto, Denise Godfrey, & Misty Michael

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s their community service project for this year, the Corozal branch decided to choose a project that would impact their community in a positive way. After much deliberation, it was decided that they would assist the Mary Hill Special Education Center in Corozal Town. The Center caters to about 15 children with special needs ranging between the ages of 5 and 15 years old. Arrangements were made to visit the school and it was observed that they were lacking a recreational facility. With this in mind, the branch staff agreed to donate a swing set and a see-saw. Soon enough, the project was underway. The swing set and see-saw were fabricated and on the rainy Saturday morning of August 31st, staff members installed the swings and see-saw. Still, they felt that something was missing. After much thought, Mr. Oscar “Chato” Chavarria came up with the fantastic idea that a couple benches would add to the final touch. Of course, that was not an impossible task for the BBL Corozal Staff; the benches were made and added. The final task was to paint the playground and the project was complete. But, something was still missing … something natural! So it was decided to beautify the area by planting some palm trees and ornamental plants. The community service project was finally done and it was perfect.

 Compiled and Produced by: Marketing Department

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On Monday September 2nd 2013, the official handing ceremony was held with staff and representatives of Mary Hill present. It was a very emotional moment for the staff and teachers to see the smiles on the faces of the children. They were very happy and excited with “their” brand new playground. The smiles on their faces said more than a million words. The Corozal Branch is the first to complete their community service for the fiscal year. Kudos go out to the Corozal Branch team for their job well done and for their united front to give back to the community that they serve.

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 Quotation Corner


Market Square Staff Initiatives By: Elizabeth Zetina - Market Square Branch

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Teller Appreciation Week - Tellers were recognized Issue #14

for an entire week and each teller was given a small token of appreciation from the branch. Zoilita Reyes was recognized as the “Stellar Teller” for her performance on the line. The Banking Hall was decorated with balloons and a banner was displayed for the entire week. Baskets of goodies were available at each station for customers to enjoy.

Customer Service Representative (CSR) Appreciation Week - CSRs were recognized for an

entire week and each CSR was also given a small token of appreciation from the branch. Similarly, balloons were placed by each work station and a banner was displayed in the banking hall for the entire week. Baskets with goodies were available at each station for customers to enjoy.

Joining the team on the road to pre-eminence By:BBIIL, Marketing Department As the Belize Bank Group rolls out its Superior Service Management Policy and adopting the 5 Virtues of Customer Service that builds on the foundation of preeminence, BBIL also joined on the bandwagon. Last month, we signed on to The Pledge and committed to proudly wearing our “We Care” pins. The adoption of the Pledge comes on the heels of the Service Excellence Training and serves as a constant public reminder to us and to our clients of who we are and what can be expected of us. The Pledge also supports other initiatives that have recently been undertaken by the BBIL team. These initiatives were sparked during and after the Service Excellence Training in July to address the Group’s ‘points of pain” and to strengthen them via the building of a more inclusive, trust worthy, respected, appreciative and caring culture, starting with ‘the man (woman) in the mirror.”

Though simple ones, these initiatives accommodate for greater involvement with the entire team on a regular basis. They are meant to be engaging and to foster an environment where we can become comfortable with our peers and be able to perform at optimal levels. These initiatives have included regularly scheduled management, department and staff meetings, breakfast pot-luck. We all have those not-so-good days when we need just an ounce of motivation to help us stay motivated and focused. Our recently installed white board in the kitchen area is strictly dedicated to writing a daily inspirational or motivational quote--a responsibility of all staff and management. The journey to pre-eminence may be a long one, but the team is not deterred. We have taken action to become more involved and to make a greater impact together; because through it all, We Care.


The Gravest Hidden Danger of Debt Consolidation Alex Nolberto - Internal Audit

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Having multiple loans, inclusive of credit cards, induces an unnecessary debt servicing burden that could be relieved via consolidation. The terms and conditions of a consolidated facility are normally at a lower interest rate and amortized

Irrefutably, the greatest danger of debt consolidation is the possibility that the customer will plummet deeper into debt as most often than not, a person who has cleared their credit card debts and taken out a consolidation loan will begin utilizing their credit cards and once again, debt will emerge. In today’s society, our propensity to consume is significantly greater than our predisposition to save and this in itself is reason to be very disciplined in our borrowing as well as spending habits. If this isn’t enough then maybe the thought of losing one’s home due to financial irresponsibility might drive this message home!

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To this end, debt consolidation, also known as refinancing, marries nicely the two themes of borrowing and consolidation, which allows for the amalgamating of all outstanding debt obligations into one compendium; and thus, the borrower is only expected to service a single lending obligation. However, one must be mindful of all the associated dangers amidst all the flexibility that the consolidation of one’s debt may incur.

over a longer period, which in essence is good. However, where this practice becomes dangerous is when the customer has not maintained the required discipline and has borrowed unproductively to the extent that they once again become financially strapped. When this occurs, the facility, normally secured either with a mortgage or some other meaningful asset that positively impacts the customers’ quality of life, may be jeopardized. Therefore, despite the relief that is afforded subsequent to the consolidation, most do not have the will power to control spending to avoid attracting additional debts. This, then, begs the question, “How many of us will have the discipline not to utilize the credit cards which now shows a rejuvenated available balance?”

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ousehold indebtedness has grown considerably in recent years, sustaining consumption growth and contributing to the decline in the household saving rate. The rapid rise in debt can be linked to changes in access to and use of credit. Over the last decade, financial institutions were increasingly willing to lend, even to those who traditionally found it hard to access mainstream credit. The use of credit or being indebted is not a bad thing in itself, provided an individual has the capacity and the will to pay back the debt. Overindebtedness; however, occurs when someone cannot service the debt out of one’s current disposable income, while maintaining a reasonable standard of living.


An Overview of Belize Corporate Services Limited (BCSL) By: Denise Godfrey, BCSL

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elize adopted the International Business Companies Act (IBC Act) in 1990 in an effort to establish itself as a modern international financial services center. One year later, in 1991, Belize Corporate Services Limited (BCSL) came into existence. We have always acted in the capacity of administrator for the registered agent licensee, The Belize Bank Limited. As a registered agent, BBL establishes Belize IBC’s, which is a corporate vehicle suitable for a wide range of offshore trading, investment and asset protection activities and solutions. We are proud to say that The Belize Bank Limited incorporated the very first IBC in Belize and even more proud to say that that first company was Belize Holdings Inc. (several name changes later, now BCB Holdings Ltd). Today, we are Belize’s leading international financial service provider with a global network of professional intermediary and private customers. Belize IBC’s are commonly used by international clients as it gives the benefit of exemption from all forms of taxation in Belize including stamp duty and it may freely open and maintain any type of currency account. Confidentiality is another key feature as the filing of directors/shareholders information is not required. Our services are not limited to IBC’s as we offer a broad range of offshore services including continuation from other jurisdictions, dissolution, restoration, virtual office, notarization, apostille, nominee director, bookkeeping services etc. Also,

through our associate, Belize Trust Company Limited (licensee for trust/foundations), we offer the formation of Trusts and more recently, International Foundations. We are regulated by The International Financial Services Commission and must ensure that we are compliant in accordance with the code of conduct regulations.

Update ...

In connection with a recent amendment to the Domestic Banks and Financial Institutions Act, The Belize Bank Limited can no longer continue to offer the services of registered agent. In light of this, BCSL has procured a registered agent license and all companies incorporated under The Belize Bank license will now be transferred to BCSL. Also, going forward, all companies will be incorporated with BCSL as the registered agent. BCSL is now viewed as a separate entity and is an associate (not a division) of The Belize Bank Limited.

“Quotation Corner” “Accept responsibility for your life. Know that it is you who will get you where you want to go, no one else.” Les Brown

“In order to succeed, your desire for success should be greater than your fear of failure.” Bill Cosby


September Cook-off & Mixology Contest By: Misty Michael, Marketing

Each staff member randomly selected a Belizean ingredient and was tasked with cooking/baking something sweet or savoury or making a drink (virgin or not-so-virgin). Ingredients were not allowed to be exchanged and everyone was encouraged to be as creative as possible – this was like the Belizean version of the popular Food Network show ‘Chopped’!

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September is our national month, and the perfect time to celebrate all things Belizean! This year the Corporate Headquarters, GRU, CBU, Marketing, and Retail Units held a “September Cook-off & Mixology” contest.

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1st Place - Kristin Leslie

The wide array of sweet and savoury snacks and cocktails were second to none, and creativity was in no short supply. The winning chef was Ms. Kristin Leslie with her submission of Coconut Poke cake (ingredient – coconut). Second and third place went to Miss Judy Hoare with her spicy meatballs and chicken wings (ingredient – Marie Sharp’s pepper sauce), and Mrs. Jenisse Quan with her cucumber and lime margarita (ingredient – lime), respectively. Special mention went to Mr. Marin Marshalleck (ingredient – tambran) who felt cheated with his ingredient choice since it was out of season. Still not willing to give up in the competition he presented the next best thing as his dish … a picture of DJ Tambran. The winner took home ‘bragging rights’ but all in all the exercise was aimed at teambuilding and forging camaraderie among staff. Congratulations to everyone who participated for a job well done!

3rd Place - Jenisse Quan

Special mention - Martin Marshalleck

Other dishes included: Marlow Neal (Cassava) - Yuca Cake Natalie Salazar (Belikin) - Chocolate Stout Cheesecake Fudgesicles Desmond Austin (Coconut Water) Desmondcito Virgin Pinapple Refresher Monique Salazar (Avocado) - Bacon Avocado Cornbread muffins with Avocado Cream Cheese Frosting Kathy Salazar (Bread Fruit) - Breadfruit Caupakes with Cream Cheese Frosting Misty Michael (Local Rum) - Chocolate Rum Cake with Rum Glaze

Radiance Heredia (Spinach) - Spinach Puffs Greg Maheia (Eggplant) - Eggplant Bruchetta Sherlyn Morris (Berry Wine) - Belizean Berry Breeze Monica Daryanani (Plantain) - Belizean Tostones Chris McGann (Dutch Cheese) - Gangster Garnaches Kim Burns (Cocoa Powder) - Baked potato Sundae

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2nd Place - Judy Hoare

Everyone put on their creative hats and got busy in the kitchen. Presentations were done on Monday September 30th and two secret judges – Michael Arthurs (BBIL) and Mrs Bridget Maheia – offered their pallets to sample all the tasty food and drinks and choose the winners. Judging was based on use of the ingredient, taste, creativity and presentation (using red, white and blue).


What’s Happening! Group Xchange

Corozal Branch staff celebrated September birthdays for Kathy, Irma and Rosalita

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Dangriga Branch held a Customer Appreciation Day on September 20. Berta Orellano, CSR, presented a lucky winner with his prize Corozal Branch staff celebrated August birthdays for Miriam and Teresita

Dangriga Branch staff celebrated Keva Kuylen’s birthday on September 28

Branches Celebrate Caribbean Wellness Week Market Square Branch

In keeping up with Caribbean Wellness week, the branch initiated a walk that left 6 am Saturday September 28 from Market Square, up Marine Parade to the first roundabout and back. Staff members were encouraged to invite family and friends to join in the walk in order to gain points for their respective sales teams (green, white, & blue). Light refreshments were available for staff and guests to enjoy after the walk.

Corozal Branch

Corozal Branch celebrated by preparing healthy snacks.

Welcome to the Family The Management and Staff extends a warm welcome to the following new employees:

Staff of Corp HQ celebrated September Birthdays for Martin Marshalleck and Jenisse Quan

Alene Grange - BBIL San Pedro Otto Noble - Free Zone Shajida Muschamp - Belmopan Vanessa Young - Internal Audit Adnan Wade - Special Project Steven Richards - BCSL Karen Diaz - Legal


October is Breast Cancer Awareness Month

About one third of breast cancer cases are related to being overweight and inactive. Eat a healthy well-balanced diet that is rich in fruit, vegetables and whole grain foods  Limit red meat, and other forms of animal fat  Limit sugary or fatty foods Limit alcohol - one glass per day Keep to a healthy weight all your life Take regular exercise - about 30 minutes every day

It is very important to look out for breast changes and get them checked as soon as possible.

What to look for: Breast

 Lump in the breast or armpit  Lumpy area or unusual thickening of breast tissue that stays after your period  Size or shape - e.g. one breast might become larger or lower than the other  Skin texture - such as puckers or dimples  Swelling, redness or a rash on the breast  Pain in a part of the breast or armpit that is unrelated to your period Nipple  Turned-in, pulled up or down  Blood-stained liquid from one or both nipples  Rash or crusting of the nipple or surrounding area

Get checked out

Most women who get checked out do not have breast cancer but it is very important: From your 20s, to be aware and if you notice any changes, go to your General Practitioner. He or she will reassure you or send you to a Specialist Breast Centre. From your 50s, accept your Breast Check invitations and keep looking for changes.

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Reduce your risk

Remember though that most women with breast complaints do not have breast cancer.

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Since a majority of our staff are women of all ages, below are some tips to consider to keep your chances of getting Breast Cancer at a minimum.

Notice any changes

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ctober is Breast Cancer Awareness month. This year to do our part to bring awareness to this disease that affects many Belizean households, the Bank has undertaken a few initiatives. These include:  Placing a pink bow on the Market Square Branch to show our solitary with the cause  Pink and white balloons will be placed in the banking halls on Friday for the entire month  Our website background will be pink for the entire month of October  Frequent business casual days will be held where you can wear pink by paying a small fee. Proceeds collected from all of the branches and units will be pooled to be donated to the Cancer Society of Belize.


Group xchange sept 2013 issue #14