Ntarikon Credit Union Scores high in 2021, pays incredible interest on shares/savings

Members of Ntarikon Credit Union 

Members of Ntarikon cooperative credit union Limited have rejoiced to the incredible performance of the microfinance institution in 2021.

With headquarters in Bamenda, plagued by a socio-political crisis, the NtaCCUL has been able to spread its tentacles to other parts of Cameroon. Doing business left the credit union with a positive turnover of 4.2 Billion CFA Francs.

Ade Muma, GM NtaCCUL

Quizzed about the secret of the microfinance institution, the General Manager, Ade Muma told The Observer that their work is centered around members.

"Our work is centered around customer care. Note that it is not the staff that bring the members. It is the members that go and bring the other ones. We give good services. We carter for them."

Fru Isaac Taku, Union President 

With 8153 new members who joined the credit union in 2021, NtaCCUL President, Fru Isaac Taku says it because of hard work, unity, collaboration and a listening ear that helped the credit union attained this feat in 2021.

"There is a lot of competition. We listen to the members and ameliorate our services." 

The Board of Directors of Ntarikon Cooperative credit union Limited is therefore paying an interest rate of 6% amount to 1.668 billion Frs CFA.

The credit union has also launched a serious attack on loan delinquency. Dropping its ratio from 20.9% in 2020 to 20.5% in 2021.

The credit union seeks to diversify its products that will enable members to quickly save and withdraw using their mobile phones.

As the members celebrated this new development, the supervisory authority of NtaCCUL, Rainbow Cameroon, advised the union to recruit more accountants that can be at the service of the members. This as a means of ensuring fluidity in transactions.

The Ntarikon cooperative credit union Limited will be 50 years in 2022. According to the GM, Ade Muma, members are expected to come up with so many projects that will be Financed by the credit union. The union also plans to reflect on the long road that they have taken to be where they're today.

NTACCUL granted a total of 28, 587 loans in 2021 and has a membership of 74, 068 as at the 31st December 2021.


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