At 36th AGM: Members Salute NtaCCUL Management for maintaining 6% Interest on Savings, reduces Interest on Loans

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By Martial Gnoukapasi
Union members at 36th AGM at the Bamenda Congress Hall

Members of the Ntarinkon Cooperative Credit Union have given a "tap on the back"  to management, for successfully piloting the affairs of the Union in their best interests in 2022.

The members who assembled at the Bamenda Congress Hall on Sunday January 29 for the 36th Annual General Assembly Meeting, greeted the innovations put in place by the board to secure financial inclusion of the members despite the health and security challenges which characterized the business climate, aggravated by the war in Ukraine which made it almost impossible for some members to meet up with their engagements in 2022.

The board president, Fru Isaac Taku, in his management report to the owners indicated that, the union experienced a growth rate of 21% on savings in 2022 as compared to 2021, which made it possible for them to maintain the payment of 6% interest on savings to members in 2022.

NtaCCUL's board president Fru Isaac addressing cooperators at 36th AGM

Thanks to the board of directors, members will henceforth benefit free of charge, the following services from the Union; Bank attestation, salary transfer, cheque booklets, Deposits, Saving withdrawal, passbook to members and SMS to members.

He also indicated that the prior notification for savings withdrawals by members have been cancelled, which makes it possible for members of Ntarinkon Cooperative Credit Union to withdraw from their accounts at anytime without any notification.

Interest on Contract loans have been reduced from 2% - 1.5% while interest on loans from 100million that meets certain requirements have been dropped from 1.5% - 1%.

NtaCCUL's General Manager - Ade Divine

A new branch was created in 2022 in Mendong-Yaounde and collection centers at Up-station Bamenda and Ndobo in Bonaberi Douala which accounts for the swollen membership, reduction of queues and delays in the treatment of transactions in these towns.

Ntarinkon Cooperative Credit Union (NtaCCUL) which turned 50 in 2022, is preparing to celebrate it's Golden Jubilee this year with the launching of their newly constructed Yaounde-Melen- building.

With a Membership of over 82,000 and a balance sheet amounting to 52billion as at December 31st 2022, NtaCCUL for 2023 plans to carry out the following projects:


- Rehabilitation of the Ntarinkon and Food market branches,

- Purchase of land for the Bertoua branch,

- Creation of Limbe branch and installation of CCTV cameras in all the branches, as well as purchase a car for it's Buea branch.

The following members were elected to fill-in vacancies in the Boards and youth committee:

• Board of directors
- Forba Placid Achiri
- Akuma Miranda

• Supervisory Board
- Boris Che

•Youth Committee
- Awasum Mirabel Lum

cross section of boad members

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