Centre Region Governor inaugurates Melen-Yaounde Ntarinkon Credit Union Ultramodern Office Monday.

The crowd pulling and record-breaking event has been programmed to take place at the Melen neighbourhood in Yaounde where the breathtaking structure is located.

The Governor of the Centre Region, Naseri Paul Bea, is expected to represent the government at the event. Other high profile dignitaries, partners and thousands and members of NtaCCUL will attend the event.

According to officials of NtaCCUL, the four-storey building is part of the never-ceasing innovations of the credit union to give clients the best of services and keep staff performance topnotch.

The facility has spacious and well-designed office spaces.  It is properly secured and accessible. The number of counters have increased to further ensure clients gain time when the come to effect transactions at the credit union.

50^th anniversary milestone

The massive and modern Melen Branch office of NtaCCUL, sources within the institution say, is a milestone that coincides with the institution’s 50^th anniversary.

Fifty years since the credit union was founded, its leadership is counting the recent achievement to give NtaCCUL a golden face in Yaounde and the entire CEMAC subregion speaks of its new height in poverty alleviation and boosting growth.

Given its ever-increasing growth and rapid expansion across CEMAC and Cameroon in particular, NtaCCUL has remained the reference point for microfinance sector, with a reputation that has hit global status.

The level of modernisation its services have undergone in recent years, management has repeatedly insisted, speaks of a zeal to stay on top and keep membership and clientele happy.

When it comes to digital transformation, innovation and eliminating basic costs in transactions, NtaCCUL, has stayed true to its vision and mission of being a microfinance institution of the people and by the people.

NtaCCUL’s proximity to members

Meanwhile, with a membership of over 82,000 and deposits of over 60 billion FCFA, NtaCCUL is located in five Regions of Cameroon. With its Head Office in Ntarinkon, Bamenda, there is a branch in Ntarinkon, Food Market, Bamenda; Nkwen and Up Station, Bamenda. 

In Yaounde, there are branches in Melen, Ekounou, Nlonkak and Mendong. In Douala there are branches in Bonaberi, Douche, Cite de Palmier and Ndobo cash office. Buea has a branch at the Mile 17 Roundabout. 

In Kumba, there is a branch opposite CamCCUL, Buea Road; Bertoua, opposite Gendarmerie Legion and Bafoussam, Marche B. There are plans to extend to Limbe and Ngaoundere. 

NtaCCUL, master of digitalisation  

It should be noted that in 2021, NtaCCUL undertook digitalisation and included electronic banking into its system. Through the electronic banking, NtaCCUL is able to connect its banking to the CEMAC Network. 

It has the opening to having ATM cards. With these cards, members have the leeway to connect directly to their accounts. This facilitates the usage of the ATM cards in the entire CEMAC zone.

With the successful digitalisation, NtaCCUL members are now able to carry out transaction by ATM and prepaid Visa cards, Western Union, World Remit, RIA, MTN and Orange mobile money transactions. 

Unending awards for NtaCCUL

The most reliable & distinguished microfinance institution comes to add to several others that have been won by NtaCCUL over the years. These include The Guardian Post’s 2021 Best and Most Reliable Microfinance Institution Award; Most Digitalised Credit Union award by The Herald Tribune and Cameroon’s Best Credit Union award, presented by an association of journalists known as Confederation of Cameroon Anglophone Journalists for a United and Stable Cameroon. 

The journalists had said NtaCCUL was awarded because it pays interest rates of 6% on members' savings, its reliability, fastest-growing nature and offers laudable customer-friendly services that are not common with most credit unions in Cameroon.

Increase in interest rate swells NtaCCUL’s membership

It should also be noted that NtaCCUL’s decision to increase interest rates on savings from 3% to 6% has caused its membership to swell.

Following its annual and audited accounts for the year 2020, it emerged that membership in the microfinance institution rose from 58,253 in 2019 to 65,914 in 2020. In 2020 alone, the credit union registered 7,661 new members

NtaCCUL has also seen its financial performance skyrocket. The microfinance institution has not only witnessed a rise in membership but also a sharp increase in interest rate. 

Digital transformation

NtaCCUL has embarked on a digital transformation in order to make its services available to all members, irrespective of their geographical location.

The first step it took was to empower and build the capacity of its staff since there was need for manpower development and training and then introducing digital products. 

With NtaCCUL’s digital project, members do not necessarily have to visit any of their branches before carrying out any financial transactions.

Unlike what used to obtain in the past, members can save, withdraw and carry out any financial transaction with the credit union, simply by using their mobile phones from their comfort zones.

With this huge development, NtaCCUL is the first and only microfinance institution in Cameroon to have gone fully digital.

NtaCCUL, it should be recalled, is the first-ever microfinance institution in Cameroon to provide ATM machine services in its branches nationwide. Some of the digital services include Western Union, World Remit, Ria, MTN MoMo, Orange Money and Visa card operations.

Board Chair says satisfying members priority

The President of the Board of Directors of NtaCCUL, Fru Isaac, had told The Guardian Post in February 2022 that: “Though there has been a sharp increase in the use and output of these digital products, there is the need for a digital shift. The credit union has embarked on digital transformation in order to make this service available to all members, irrespective of their geographical location”.

He had added that this digital shift entails the broadening of the product base in order to provide a foundation on which modern financial services can be hinged.

“This foundation is nothing but a strong, performing and reliable core banking software that facilitates operations, secures data and can anchor not only current digital financial services, but future services,” Fru noted.

NtaCCUL changing lives for over 50 years

Operating in Cameroon since 1972, the credit union has satisfied millions of people and transformed lives. Many have become successful thanks to NtaCCUL.

According to a member, Ekom Ekili Martin, national president of Mission and Enterprise Cameroon, he is what he is today thanks to NtaCCUL.

"I must say that this credit union has been of great help to me as a person and the community in which I live," Ekom Ekili said.

"When I became a member, and started getting loans, I contacted the then mayor of Buea and we built shopping spaces at Mile 17 and a guest house, which is of great help to the people," Ekom Ekili added.

NtaCCUL is the most committed credit union with micro-credit schemes, outreach services, giving school fees loans, special operations for customs clearance, mortgage loans for civil servants, line of credit for civil servants, micro-credit for ‘buyam sellams’ ‘Njangi’ financing, agricultural loans, buy a house equipment loan and many others.