Ntarinkon Cooperative Credit Union Goes Digital, X-ray New Enticing Services.

By Etienne Nfor Liboh

The 36th annual general assembly meeting of Ntarinkon Cooperative Credit Union Limited (NtaCCUL) held on January 29 2023 at Congress hall has brought a lot of joy and satisfaction to it's members following the announcement of an online app that will ease accessibility to it's members. Mr Isaac Fru Taku board president made this announcement and encouraged members to save and widraw from their account, consult their account balance and history from the app. He equally noted that the app is available on play store and members should contact their branch managers for directives. 

General manager Mr Divine Ade Muma addressing the members 

The AGM also witnessed some supprisises to it's members. The digital service that the union offers include Automated Teller Machine and pre- paid Visa Cards, Western Union, World Remit, RIA, MTN MOMO and Orange money. The union has equally scraped savings withdrawal charges and no notification is needed for saving withdrawals irrespective of the amount. 

The board president equally made the announcement that the board of directors has agreed to free some minimum service for a better financial inclusion of the members which includes; passbooks to members, Bank attestation, account opening, saving withdrawal, deposit, salary transfer, cheque booklets and SMS to members.

NtaCCUL members at the AGM.

It should be noted that NTACCUL turned 50 years of existence in 2022 since it's creation in 1972. Speaking to the post newspaper, the General Manager Mr Divine Ade Muma says "we are going to celebrate the Golden Jubilee this year with the lunching of our newly constructed Yaounde Melen building. We equally signed a contract with GIMAC for the the production and distribution of GIMAC Cards and the cards are expected to go into circulation by March 2023. We will also do the rehabilitation of the Ntarinkon and food market branches, purchase of land for Bertua branch, creation of limbe branch as well as installation of CCTV cameras in all the branches of NtaCCUL".

As indicated by the Union's president, security remains a challenge the has reduced the saving ability of NtaCCUL members. The covid-19 health crisis and global value chain problems aggraveted the war in Ukraine which has led to inflation, has made it difficult for some members to meet up with their engagement with the union.

However, the Union's membership has witnessed a growth rate of 11% with membership as of 31st December at 82, 839 and a balance sheet total of 52 bilion as at 31st December. Members savings was maintained at a 6% interest rate and Interest on Contract loans have been reduced from 2% - 1.5% while interest on loans from 100million that meets certain requirements have been dropped from 1.5% - 1%.

Ntarinkon Cooperative Credit Union Limited has equally expanded it's branches at Mendong - Yaounde, collection centers at updation Bamenda and Ndobo Bonaberi Douala. The objective is not only to increase membership, but also to reduce queues and delays in the treatment of transactions.