Ntarikon Cooperative Credit Union Solidifies Position as Largest within CEMAC

Members of Ntarikon Cooperative Credit Union have saluted the management for its outstanding governance making the Union the biggest within the CEMAC Zone.

In 2024, NtaCCUL was able to mobilize 11 894 new members taking total membership of the union to 104, 107.

This remarkable increase in membership according to the General Manager, Ade Muma Divine is due to the digitalization of NtaCCUL services.

The online App and the USSD platform have greatly improved access to the Union's services to members and hence a lot of new people and groups are adhering.

Also, Ntarikon Cooperative Credit Union pays the highest interest on savings standing at 6%.

In 2024, a total of 3.67 billion will be shared to the members as interest. The announcement from the outgoing President, Fru Isaac Taku was greeted with thunderous applause from the members.

"We are the leading microfinance institution in the CEMAC zone, in our category and we are determined to continue to be the best." The President said.

Ntarikon Cooperative Credit Union Limited was able to successfully celebrate its 50th anniversary in 2024 as well as inaugurate a three storey building for the Yaounde- Melen branch. The Ngaoundere and Limbe branches went operational.

In terms of business, a total of 52 224 loans were granted to members in 2024 to the tune of 44.58 billion Francs. This permitted members to do business successfully. The loan delinquency of the union increased to 25%.

According to Fru Isaac Taku, this is" as a result of very low recovery rate in the regions affected by the crisis. "We shall continue with the recovery drive in all the regions including the affected areas in the Anglophone regions." The President said.

The credit Union has grown in all aspects. Shares increased from 3.08 billion to 3.44 billion in 2024, witnessing an increase of 354.57 million Francs. For savings, it increased by 12.49 billion meanwhile Deposits dropped by 365.36 million. The union explains that members are taking advantage of the high interest rate by saving more in their savings accounts.

In 2025, the union envisages to continue the creation of agencies and collection centers, renovate the Buea Branch building to include aluminum panels meanwhile three agencies and collection centers shall be created in 2025.

By

Ndi Tsembom Elvis