By Belize Live News Staff: The High Court of Belize has upheld the decision to terminate Rafael Dominguez as General Manager of Saint Francis Xavier Credit Union (SFXCU).
In a ruling delivered on February 19, 2026, the court dismissed a claim brought against the Registrar of Credit Unions challenging the termination. The court found that the Registrar acted lawfully and followed proper procedures.
The decision follows extensive examinations into the affairs of SFXCU, which identified serious administrative and operational deficiencies posing risks to the stability of the credit union.
An administrator, Marlowe Neal, had been appointed to manage the institution’s affairs, and Dominguez was suspended in March 2023. In May 2024, the Governor, acting as Registrar, directed that Dominguez be terminated.
Dominguez later challenged the decision, claiming it was unlawful and disproportionate, and sought severance and contractual benefits reportedly exceeding $800,000. The High Court rejected the majority of those claims.
However, the court ruled that Dominguez is entitled to severance under the SFXCU manual and ordered that the appropriate amount be calculated.
The Central Bank stated that it will continue to supervise credit unions to safeguard the interests of members and creditors.
