Tadkon Credit Union Adopts Zero Tolerance for Delinquent members in 2021

General Assembly of Tadkon Credit union

Tadkon cooperative credit union, one of the affiliates of CAMCCUL have taken a strong stand against delinquent members of the union

During rigorous loan recovery in 2020, the board of directors discovered some members do not repay their loans out of bad faith

Mrs Mbah Comfort, acting President of the union warned that "the credit union has decided to embark on an aggressive foreclosure of collaterals while some loans have been rescheduled, others restructured and others refinanced"

Members of the Board of Directors

Despite efforts to reduce the loan delinquency of the union, the overall loan still stands at 64.51% down from 72.58%. A percentage management says is to high and must be reduced to the required 5%

Despite the lackluster nature of some members, the credit union recorded immense success in 2020

Mrs Mbah Comfort, Union President

The union was able to secure the salary code from the Ministry of Finance. Civil servants, pensioners are now paid through the code.
The union equally runs Western union services that can permit members to do international transactions

Tadkon made a profit of 218,858, 719 Frs in 2020 with 28,650,406 Frs to be shared as dividends to members of the union

Representatives of CamCCUL

Despite the security challenges in the North West and South West regions, the union was able to mobilize 328 new members bringing the total membership to 7708

These positive strides has not come without huddles. The union has closed its branch at Etoko while the Tombel branch has seen many members leave due to the anglophone crisis. The union however plans to have a branch in Mamfe when the security situation improves

The 2020 annual General meeting comes at a time when the union lost its president, Bangu Thaddeus in 2020


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