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St. Francis Xavier Credit Union Ltd. was founded in 1947 by Rev. Henry Suttie S.J. It functioned for some years, but it was financially weak and stagnant. In December of 1979 it was re-organized by Fr. James Walsh S.J., and under new management, it has been growing and thriving since.

St. Francis Xavier Credit Union Ltd. is a cooperative financial institution, having a Cooperative Structure. However, Credit Unions are different from other financial institutions in several unique ways. They are organized for the purpose of providing financial services to a certain group of people, the members. All surplus earnings are returned to its members in the form of dividends and rebates annually. It is a democratically controlled organization; each member has one vote. "People Helping People" is the basic philosophy of the Credit Union.

With over 22,000 active members, St. Francis Xavier Credit Union is the 2nd largest credit union in Belize. It is well known that this institution will always work with its members and for its members.

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