Our Members are Free from Financial Stress - Mitanyen Credit Union Board President, Muluh Stanley declares at 2023 AGM

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By Martial Gnoukapasi

MitacCul Board president, Muluh Stanley facing the press


"Anywhere you see a Mitanyen member, you would always know because they are free from financial stress", these were the words of Barrister Muluh Stanley, Board President of Mitanyen Cooperative Credit Union (MitaCCUL) at the 2023 annual general assembly meeting of the union that took place the union's hall on Saturday February 3rd.

Members of the Union also expressed satisfaction at the annual assembly meeting when the board president announced that the 4% interest rate on their investments have been abandoned for a new rate of 6% on their investments.


"the first thing I will like to talk about is the devidends that we paid at 6%. It's extraordinary given the context we are operating in," Muluh Stanley said. 

He added that paying a 6% interest rate on members' investment is thanks to hardwork, and that more will be realize if members continue to work in tandem with the vision of the union. 

The board president also indicated that another motivating factor that attracted and continues to pull in new Cooperators to engage in financial dealings with MitaCCUL is the putting in place of a digital application that permits members to carry out business transactions using their mobile phones within the comforts of their homes, without necessarily moving to the credit union.

Still on the digitalization process, the General Manager, khan Justice Fon said that


Mitaccul's GM Fon Khan

"when you embrace digitalization in it's fullness, it means you are also reducing the number of points that are to be created because clients would carry out transactions even while in their bedrooms. They must not visit the institution before they access their accounts."

The Board of directors assured the cooperators that issues surrounding delinquency which is now facing many credit credit unions will be tackled and brought to a minimum with all energy  

Created 16th of January 2000 with about 500 potential members at the launching ceremony, 137 joined and got registered. 

About 7.5 million francs was raised as initial shares/savings of the credit union.

Today, MitaCCUL's membership has morphed to over 13000 with more trooping in, thanks to constant innovations, new products and quality services in customer care

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