Ntarinkon Credit Union fetes 50th anniversary in grand style.

The positive appraisals were made Saturday March 23. This was during a crowd pulling ceremony to feast the milestones of NtaCCUL in the last 50 years.

The celebrations took place in Bamenda, North West Region. 

The Governor of the North West Region, Adolphe Lele L'afrique, among other top officials, attended the event.

The President of the Board of Directors of NtaCCUL, Taku Isaac; NtaCCUL General Manager, Ade Muma Divine and hundreds of members of the credit union also lived the historic ceremony.

During the 50th anniversary celebration, Board members and authorities of NtaCCUL examined the union’s 50 years of existence. 

They also talked of ground works already afoot for the next fifty years of NtaCCUL. This, they said, is to ensure NtaCCUL remains the microfinance institution of reference in Cameroon and the entire Central African Economic and Monetary Community, CEMAC, Subregion.

Stakeholders laud NtaCCUL

With a membership of 92,210 as at December 31, 2023, assets of 62.4 billion and 171 employees, speakers at the event lauded the marvelous work of the institution’s management.

Speaking at the event, Governor Adolphe Lele, hailed NtaCCUL’s contribution in several sectors, especially in poverty alleviation. 

NtaCCUL, he said, has "contributed a lot in the microfinance sector of the country and is also contributing in the peace process and alleviating poverty in the remote areas of the North West Region in particular”.

He congratulated the credit union’s management, its membership, expressing confidence that NtaCCUL has has a bright future.

The General Manager of the North West Development Authority, MIDENO, Cletus Anye Matoya, also a former President of the Board of Directors of NtaCCUL, said it is delightful to see the microfinance institution growing from strength to strength.

"I feel so happy that NtaCCUL is continuously breaking new grounds and impacting lives. I am glad that the efforts I and my team put in place to better up NtaCCUL are yielding fruits and the trickle-down effects are being felt by the members," Matoya said.

Board of Director’s President on merits of unity 

The President of the Board of Directors of NtaCCUL, Taku Isaac, said the growth and unrivaled expansion of the microfinance sector leader is unity and cooperation.

"Because of the spirit of co-operation in NtaCCUL, low-income salary earners with income below 100.000 FCFA, have acquired pieces of land and constructed homes for their families,” Taku said.

Millions of others, he said, have, thanks to NtaCCUL, raised children under the best of circumstances, owing to the attractive services of the microfinance institution. 

He submitted that “the spirit of co-operation is necessary for the advancement of human development".

Renewed dedication to better serve members

The General Manager of NtaCCUL, Ade Muma Divine, for his part, said at 50, NtaCCUL has taken the fresh commitment to better serve its ever-growing membership.

While lauding the vision of the Founding Fathers of NtaCCUL, Ade Muma said: “We dedicate this anniversary to serving members better, growing the business and grow the benefits for members”. 

He said services will be made more simplified to ease the transactions of members.

Strategic 10-year growth plan 

In the next 10 years, the management already has a strategic growth plan. One of the targets is to hit a membership of 100,000 this year.

With the goal to promote financial inclusion and boost growth, Ade Muma said everyone has a place in making real the vision. He urged members to bring in new members to also benefit from the services they enjoy at the credit union.

“I invite every member to strive in the next five years to get at least 10 new persons to register with NtaCCUL," he said. 

The GM was clear that in its quality transformative growth program, with focus on all social strata, NtaCCUL has its eye on national and Sub-regional development in Africa. 

In the next 10 years, he said, NtaCCUL is targeting 500.000 members and opening 40 branches nationwide.

Reinforcing recovery, internal control

Ade Muma talked of the need to reinforce recovery operations and internal control for the effective functioning of NtaCCUL.

NtaCCUL, he said, has embarked on reinforcing internal control, risk mitigation and safety measures. 

By doing so, Ade Muma said, the microfinance institution aims to minimise losses from fraud, cyber-attacks, inter-branch operations as well as theft and disasters. 

He said within the development plan for the next decade, quality investments will be made to upgrade infrastructure, software and office equipment.

The history of NtaCCUL

To recall that Ntarinkon Cooperative Credit Union started as a discussion group with about 15 members in the early 1970s. 

The brain behind the union was the late Ellias Nde Warah. Warah hosted the meeting in his house at the time in Ntarinkon-Mankon.

It first started with a weekly njangi of 500 FCA. Members started savings, ranging from 5 FCFA to 100 FCFA. 

It later grew as many members joined with an executive elected in 1972, with Ellias Nde Warah as the first president.

After several struggles, the group was transformed and registered as a credit union in 1985, with the accreditation of Ntarinkon Cooperative Credit Union, to function fully as an affiliate of the Cameroon Cooperative Credit Union league, CamCCUL.

NtaCCUL’s unending spread

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.