Skip to main content

NTACCUL SOARS WITH JUICY INTEREST RATE

By Mildred Ndum Wung Kum

Ntarikon cooperative credit union NTACCUL has taken the commitment to increase membership, reduce loan delinquency and step up the interest rates for the benefit of members. The commitment was taken during an annual general meeting which brought together thousands of members at the Bamenda Congress Hall. 


Members at NTACCUL 34th AGM

It was the 34th annual general meeting held Sunday February 7, 2021 bringing together members of the Ntarikon Cooperatrive Credit Union NTACCUL. Prominent in attendance were the union’s president Fru Isaac Taku and the General Manager Divine Ade Muma. The main agenda was to review the activities, performance and challenges of NTACCUL. 

The micro finance institution boasts of a 13 percent growth rate with a membership of 65914 in 2020 up from 58253 in 2019. It also boasts of an increase in shares from one billion to two billion and an increase in savings of 21 billion up from 16 billion. During the AGM, NTACCUL was also proud to have been rated as best Micro Finance in Cameroon even in the midst of COVID19 and the socio political crisis. 

“I am comfortable because the union budgeted and they had more than what they budgeted. There are no financial mismanagements, there are no deficits and all the like” a satisfied member told Cameroon Infotrend at the meeting.

The union has resolved to credit members saving account with a 5% interest for savings for the year 2020 and 6% interest for 2021.


           General Manager NTACCUL

“The issue of the 5% that we give on savings is real and this is poverty alleviation.  When somebody comes and at the end of the day it adds, it makes the man feels good so those who are not yet members should come, those who are members should put more money on their savings because they would receive more on it” the general manager of NTACCUL  said.

The micro finance also indicated that it is grappling with issues namely delinquency, closure of accounts by some members and the task to multiply branches. “Delinquency still stands on 20%. We are going to cut down on lending and master the people who are eligible for the loans that is for those with new loans and for the old loans we are going to reinforce recovery. We have a loan recovery task force and we have done restructuring of the recovery service so that in 2021 we would reduce the loan delinquency to an acceptable level” NTACCUL ‘s president revealed the strategy to be embarked on.

              President NTACCUL

It was said at the AGM that to keep the lane of success, NTACCUL shall implement digital and electronic banking with the use of ATM cards to enable clients connect directly with their accounts. 

Comments

Post a Comment

Editor's Picks

WHO BOOSTS COVID19 RESPONSE IN NW WITH COMPUTERS, TOYOTA CAR By Mildred Wung Equipment worth over twenty million francs CFA has been handed to the Northwest Regional Delegation of Public Health by Dr Phanuel Habimana, World Health Organisation's Country Representative . The gift composing of a four wheel Toyota car and twenty computers was handed  May 5, 2021 at the explanade of the Regional Delegation of Public Health Northwest Cameroon. It is ntended  to aid health officials in COVID19 response The equipment was received by Dr Kingsley Che Soh, Northwest Regional Delegate of Public Health  in the presence of Dr Dennis Nsame -Director of the Regional Hospital, Governor Adolph Lele Lafrique - Chair of the Regional Committee against COVID19 and a host of other health workers.  Handing the Equipment, Dr Phanuel explained that the donation falls within a scheme dubbed "Pandamic emergency facility fund" set aside by the world bank meant for social crisis stricken zones w...
Post a Comment
Read more
  Take vaccine to save life Day two Campaign against COVID-19  The 5th wave of COVID-19 is not devastating as the four wave thanks to the introduction of the  vaccine. A sixth wave might evolve if barrier measures are not respected. Take vaccine to save life #EndCovid22 #StopCovid23 
Post a Comment
Read more
  TRADITIONALISTS FROWN  DISREGARD OF CULTURE AFTER FON GOES  MISSING By Mildred Ndum Wung Kum Conservatives have expressed dismay that the traditional medium that was supposed to be used to announce the disappearance of the King of Mankon has been obliterated.                         HRM  Angwafo III SAN Multiple news sites reported the disappearance of the King of Mankon, His Royal Majesty Solomon Anyeghamotu Ndefru Angwafo III on May 22nd, 2022. No official statement of the traditional ruler's disappearance from the appropriate quarters was heard.  "It's rather unfortunate that the roots of Mankon Culture has been adulterated .   However, we still have to wait for the official message from the Kwifor of Mankon Kingdom" relieves a die heart traditionalist. In keeping with the customs and tradition of Mankon, the normal channel to disseminate information of the Fon's disappearance would ...
Post a Comment
Read more