Banks and Credit Unions
Scotiabank officially closed its branch in Spanish Lookout several weeks ago, except for the ATM which still operates. In their 10 years of existing in Spanish Lookout, they had been the victims of 2 major armed robberies, losing hundreds of thousands of dollars in cash. There are no plans to return to business.
On the other hand, Spanish Lookout community is now following the steps of Blue Creek colony in Orange Walk in establishing its own official and formal credit union made up mostly of tax-paying members. Their office will be located in the same building as Farmer's Trading Center.
Heritage Bank is now in the community and is currently in the process of building their own ATM in a corner of the FTC building.
Previously, FTC operated as an unofficial credit union for the community, issuing its own cheque-like coupons valid only within Spanish Lookout. Reimer's Feed Mill is still doing that, acting as a private bank for employees and other people and printing its own coupons, whereas FTC was only for taxpaying members and their children.
Major changes are on the way for their financial system.
On the other hand, Spanish Lookout community is now following the steps of Blue Creek colony in Orange Walk in establishing its own official and formal credit union made up mostly of tax-paying members. Their office will be located in the same building as Farmer's Trading Center.
Heritage Bank is now in the community and is currently in the process of building their own ATM in a corner of the FTC building.
Previously, FTC operated as an unofficial credit union for the community, issuing its own cheque-like coupons valid only within Spanish Lookout. Reimer's Feed Mill is still doing that, acting as a private bank for employees and other people and printing its own coupons, whereas FTC was only for taxpaying members and their children.
Major changes are on the way for their financial system.
