NewsEchoes: With Growth In Sight, Bafut Cooperative Credit Union Aims At Expanding

The ambition and intensions of each and every credit union is to ensure growth at every levels and also ensure that all her members grow as well lips and bounds.

BOD's at BafCCUL AGM.

This, goes in line with what the Bafut Cooperative Credit Union has achieved for their years in existence in the financial domain in the North West region and beyond. The union which had gained growth in members as at 2021 and going further this 2022, has laid down great ambitions to expand it's tentacles to other regions where they equally have a good number of members in those areas. For the year 2021, the union succeeded to register 1029 new members representing a 7.5% making a total of 14,656 members as compared to 13,631 members in 2020 who are part and parcel of the credit union. With such number of members, the union currently operates 10 branches based in Ndop, Yaounde, Douala, Kumba amongst others which are well situated for the benefit of doing business with their customers. Thanks to various innovations implemented like the introduction of the RIA, Visa card, inter branch transactions, internal money transfers, the clearing of containers for members and other mobile money services, the union plans on tightening the security at the various locations of the union such that members' trust in doing business is enhanced.

Meeting at their 57th AGM at the Congress hall, the president Chenwi Samuel noted that the Union had a growth of 9.5% in shares, 33.5% income/expenses, 15.3% savings and 27.3% loan increases and loan delinquency of the union standing at 40.7% dropping from 48.7% in 2020. "We intend this year 2022 to enforce more stringent measures in fighting loan delinquency, complete the implantation of new products and services, continue sourcing for more income generating avenues, complete the interconnectivity of branches and the follow up of recovery funds due BafCCUL with CamCCUL and Reccucam amongst many other innovations." Chenwi Samuel, president of BafCCUL highlighted while encouraging members to explore the services at their disposal.

Partial view of BafCCUL members at AGM.

With the main aim of always making the customers satisfied, the general manager of BafCCUL Neba loius Atahsi said their target for this year running will "be to increase the amount in dividents and to bring in more products like the World Remit which the members have been requesting."

Neba Loius Atahsi, GM of BafCCUL speaking to the media.

"The year 2021 was not all that the best due to the health and Socioeconomic crisis. We are struggling to see that this year and further, members can log into their accounts from all the branches and we will keep striving to empower all our members." General Manager, Neba Loius Atahsi intimated.