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
By
Ndi Tsembom Elvis
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