By Ignatius Nji
President and Manager hand over Prizes to One of the beneficiaries
Having recorded an 18% delinquency rate, members of CCAST Agric Cooperative Credit Union limited, CCACCUL, in its 46th general assembly meeting that held on Saturday 4 February 2017, adopted to embarrass delinquent members at their residence, as a measure to curb the high rate of delinquency that is plaguing the Credit union.
Members willing to volunteer in the task force were called upon to register their names and be on standby. Going by this method which highly applauded, the task force shall play drums and dance at the delinquent’s residence calling on them to repay their loan.
In this light the President of CCACCUL, Mbantapa Aaron Tasha, called on members to protect and preserve the image and finances of the Credit Union. In order to improve on livelihood of members and foster development which are prime objective of credit union, members were called upon to continue to saving often, borrow wisely and repay promptly. The President intimated that, members should always strive to honour engagements with the Union which in turn enable better interest on members’ savings and shares. Members whose performances in 2016 in terms of saving at least FCFA 4000 monthly were given prizes to encourage them and spur others to emulate. Membership has moved up the scale by 11% from 2015 and now records 1850 active members as at 31 December 2016 with a share capital of FCFA 41.026.800 while savings stood at FCFA 487.190.340. CCACCUL was able to give out loans to members at the tune of FCFA 462.710.341 witnessing an increase of 26%.
In order to stay competitive, CCACCUL has introduced services such as Orange money, Western Union, Money Express and Internal Money Transfer and new service is also being introduced for money transfer thus Express Cash. This service the President described as very attractive. Members were reminded that in case death of member who had an unpaid loan, the family must repay back the loan else the collateral would be confiscated. CCACCUL envisaged constructing a befitting structure and members building fee would move up to FCFA 10.000 to facilitate the project. Two members were reelected in to the supervisory board and women’s committee. The Manager Wanki Barnabas Ndimuh has the arduous task of laying ground works for a new branch for Bamendankwe members at the motor park. Members ended session by deliberating and adopted a budget of FCFA 89.129.463 with an investment budget of FCFA 31.545.000.