15 000 Celebrate Credit Union Day in Bamenda

The celebration attracted over 15 000 members

The celebration attracted over 15 000 members

They came from Mezam, Momo and Ngoketunjia divisions that make up the Bamenda Chapter of the Cameroon Cooperative Credit Union League (CamCCUL), to converge on the Bamenda Congress Hall last October 17, to observe the International Credit Union Day and also to prove the numerical strength of the League that has stood at the forefront of poverty alleviation and development in the country since 1963.

The theme retained for this year’s celebration is “people helping People”. The Over 15,000 members marched through some major streets of Bamenda to converge on the Bamenda Congress Hall where they listened to speeches and received prizes for best practices and performance.

League President, Musa Shey Nfor told them that the day offered a unique opportunity for members and credit unions to reflect on the origin, evolution and achievements as well as challenges that are facing the movement and to plot a better path for the future.  He however refute allegations that the credit unions have become more for the rich than the poor in society that it profess to stand for.

 “The first principle of the Credit Union is that a cooperative credit union is a voluntary and open membership, which must not be discriminated based on religion, based on politics, based on poor, average or rich, there is none of the principle which talks about poor or rich, but talks about open voluntary, and everybody has to come together that means the poor, the average, the Muslim, the rural woman ….” he said.

Musa Shey Nfor-President CamCCUL

Musa Shey Nfor-President CamCCUL

The credit unions he added has not deviated from its laid down principle and will continue to bring together the rich and poor to collectively better their lives in alleviating poverty.

Representing the governor at the event, the Inspector General of the region, Ivo Charles Mekoge encouraged the credit unions to continue in their unrelenting efforts to combat poverty in the country and promised government support for such efforts.

Ivo Charles Begoge- Adviser No 1 Governor's office

Ivo Charles Mekoge- Inspector General

Traditional Dances graced the occasion

Traditional Dances graced the occasion

Meanwhile the League has called on government through the ministry of finance to accelerate the process of special tax regime category one credit unions and to assist the league through the pitting in place of an accelerated recovery procedure to check some unscrupulous members who borrow big from small credit unions and use big means to fight them.

CamCCUL ‘s network currently span the 10 regions of the country and boast of 228 credit unions with a share and saving capital of over 167 billion FCFA and employs some 1800 Cameroonians.

Loan delinquency still remains CamCCUL’s main preoccupation today with the body having introduced measures to improve on this.  These include the creation of a recovery task force and new loan forms and the continuous in-service training and capacity building of its workers.

By Ndi Tsembom Elvis Junior

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