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

THE ROLE CATHOLIC CLERGY AND LAITY PLAYED IN ANNOUNCED NATIONAL DIALOGUE

Priests and Bishops pose for pictures at 67th BAPEC session Cameroon’s president Paul Biya announced a major national dialogue to commence as from the end of this month.  The announcement came in a speech which he addressed to the nation hinged on the throes of the socio political crisis that has gripped the North West and South West region. It is barely a week since the national dialogue was announced and the topic is animating public debates. It is however time to give credit to the clerics and the laity of the Holy Mother Church the for role played in paving the path of dialogue Since the outbreak of the Anglophone crisis, the priests, the bishops, the religious and other leaders of the church have often echoed and re-echoed that only profound and meaningful dialogue can bring solution to the problems plaguing the North West and South West regions of Cameroon. In fact memories of 29-Dec-2016 are still fresh, the date when bishops of the Bamenda Provincial Episcopal Conf...
5 comments
Read more
PHILANTHROPIC SON DONATES EQUIPMENT, PLEDGES FCFA 80 MILLION FOR HOSPITAL CONSTRUCTION By: Mildred Ndum Wung Kum Spurred by sheer benevolence and love for humankind, Joseph Mubang who is reputed as a philanthropist has donated a forty feet container of medical equipment to the Saint Blaise Catholic Hospital in Bamenda. Container of medical supplies  The son of Mankon soil also gave his word saying that he shall single handedly fund the construction of the first floor of an envisaged six storey building of the Hospital project, a commitment which shall require him the sum of eighty million francs, meanwhile his family shall together finance the construction of the second floor. It was on the 12th of April 2022 at the Piazza of the Saint Joseph’s Cathedral Mankon during Chrism Mass and Cathedraticum that His Grace Andrew Nkea, Archbishop of Bamenda presented Mr Mubang Joseph to the public rendering thanks to him for donating medical supplies to the Hospital. During the same occasion,...
Post a Comment
Read more
Three Neighborhoods Receive Cleanliness Award in Wum By Mildred Ndum Wung Kum   Wum Municipal Council awarded three neighbourhoods for good hygiene and sanitation.  The award was handed on December 15, 2022 during a budgetary session chaired by Dighambong Anthony Mvo, Mayor of Wum Council. Three neighbourhoods which were evaluated for cleanliness received prizes: the first prize to Kesu 100,000frs, second to Waindo 50,000frs and third to Zonghofu, 25, 000frs. Graphic by Fang Fuuh Edwin
Post a Comment
Read more