Ntarinkon credit union on spotlight again.

This was during the maiden award night of Cameroon English Language Newspaper Publishers Association, CENPA. The award night took place Thursday July 25 at the Yaounde Hilton Hotel.

CENPA, it should be noted, is a grouping of 35 English language newspaper publishers in Cameroon. It was created with the main objectives being to promote national unity, peace reporting and responsible journalism.

The award night was held under the distinguished patronage of the Minister of Communication. It was attended by top government officials, members of the diplomatic corps, political, religious, civil society and traditional authorities, among others.

The award jury was led by Barrister Akere Muna (President), Senator Ekoko Mukete Ekoko IV (Secretary), Esther Omam (Member) and Kristian Ngah Christian (CENPA President).

Ntarinkon Cooperative Credit Union won the Best Microfinance Institution and Digitalised Services Award “For its sustained leadership in microfinance management through the use of modern technologies and consistency in paying the highest interest on savings of 6% and lowest on loans across the CEMAC Sub Region”. 

The microfinance institution was represented at the award night by a team of management staff and Board members led by the head of the Accounting Unit, Nyambod Celestine. 

According to Nyambod, the award was no surprise because NtaCCUL has remained at the top of all microfinance institutions in the CEMAC Sub Region.

He said with its digitalised services, NtaCCUL members can carry out transactions from the comforts of their homes 24/7 without necessarily going to any of their branches.

NtaCCUL’s last annual reported indicated that the microfinance institution’s online App went operational since 2023 and it can be downloaded on Play Store. 

The App enables users to do financial transactions with their mobile phones from any location and doesn’t warrant any physical presence in the office as it obtained in the past.

There has also been the introduction of a code, #237*007#, for users of non-android phones to use the USSD platform. These online platforms enable members to consult their account histories, balance, withdraw and deposit money via mobile money; do account to account transfers, among others.

“Award encourages more hard work”

Talking to the press after receiving the NtaCCUL award, Nyambod Celestine said the award means a lot for the microfinance institution.

“For the years past, we have been winning awards and it indicates that we have been at the top… to be at the top is challenging, but to remain there is more challenging. This award has come to encourage us to work extra hard so that we can maintain our leadership position,” Nyambod added. 

NtaCCUL innovating to better serve members 

Meanwhile, the microfinance institution is innovating to better serve its members.

“To better serve our members, we keep on innovating. Now we are talking about digitalisation of services; that is how the world is evolving. In line with the moves of the Head of State to digitalise the economy, we are equally embracing that objective. We have digitalised, which is a new form of delivery of our services to members,” Nyambod said. 

On why people should choose NtaCCUL from other microfinance institution, he said: “Ntarikon Credit Union has been the best and will remain the best. We are digital and have a mobile App and the USSD platform, which members can use to carry out transactions, get accounts statement, do transactions even at the comfort of their home. That comes to add to our prominence in the market of paying the highest interest on savings, 6%, and lowest interest on loans. So, every member has all the reasons to do business with us”. 

Nyambod called on members to remain confident in NtaCCUL and “continue to do business with us. We are the best and the recognition from outside is an indication that we are the best”. 

6% interest on savings highest in sector

Meanwhile, NtacCCUL has also been hailed for its 6% interest on savings, which is the highest in the sector, and its lowest interest on loans.

Nyambod said with the 6% in interest on savings that has remained the highest in the market, everybody has a reason to do business with NtaCCUL.

“We are telling our members to have confidence and continue to do business with us because we are the best and will stay on top,” Nyambod noted.

It should be noted that experts in the microfinance sector have indicated that more people save in NtaCCUL because of the juicy 6% interest on savings. 

The dynamic General Manager of NtaCCUL, Divine Ade Muma, had in previous explanations said interest on members’ savings is calculated every two weeks so that no member is cheated from when saving is done.

Outstanding customer services

The outstanding customer service of NtaCCUL is among the things that make the microfinance institution stand out as the best and largest credit union in Cameroon in terms of assets and membership.

NtaCCUL’s skyrocketing growth is attributed to the good customer service that identifies the needs of the members and serve with well. 

Moving from analogue to digital services, microfinance experts say, is also plausible reason for NtaCCUL standing tall within the microfinance sector. With the digital services, members can stay in the comforts of their homes to do transactions.

Increasing number of branches

Meanwhile NtaCCUL has been moving closer to members to better service them by creating new branches

The now biggest credit union in the CEMAC Sub Region has 15 branches; three in Bamenda, (Ntarinkon, Food Market, and Nkwen opposite PMI); three in

Douala, (Bonaberi, Akwa-Douche, Ndokoti and Cite des Palmiers); four in Yaounde, (Melen, Ekounou, Nlongkag and Mendong); one in Bafoussam, (opposite Marche B); one in Buea (Mile 17 roundabout and one in Bertoua (opposite the gendarmerie legion). 

The Ngaoundere branch went operational since February, 2024 and there are plans to also open the Limbe branch soon as work on the site is in progress.

About NtaCCUL 

Ntarinkon Cooperative Credit Union Limited was started in 1972 as a discussion group amongst farmers. The main activity of the group was weekly savings of 5, 10, and 100 FCFA respectively. 

It had as president, Pa Elias Nde Wara, with Pa Nchamsi Martin as book keeper, and Pa Nche Wilfred Abegly as treasurer. Other persons later joined, who were mostly farmers and traders.

They were later joined by their wives who were farmers and ‘buyam Sellams’. The group became very popular in Ntarinkon quarter and many neighbours started joining and soon lending developed. Small loans were granted for school fees and farm inputs like fertilisers and pesticides for the coffee farmers.

The growth of this savings and lending culture, which is the fore- runner of Ntarinkon Cooperative Credit Union permitted its members to send their children to school and some of them have become engineers, medical doctors, bankers, among others.

Today, Ntarikon Cooperative Credit Union has a total membership of over 95,000, spread over the national territory and beyond. 

This story was first published in The Guardian Post issue N0:3191 of Tuesday August 06, 2024