By Fokum Emmanuel P. in Bali
Bali Central Credit Union, BACCCUL, has taken giant strides towards expansion and improving on the services provided to its members. This was revealed during the 57th Annual General Meeting (AGM) on Saturday, February 7, 2026, held at the Catholic Mission Hall Bali.
BACCCUL will pay out 6% interest on shares, pay out a total of 331.4 million FCFA as interest on members savings, reduced charges on services like the fee for withdrawing money without notice from 1.5% to 1%, strengthening the loan policy, setting up innovative and encouraging loan scheme with interest as from 0.5% ,
Other improvements include the expansion of services with the opening of the 8th branch in Kumba, Southwest Region, injection of fresh minds into the board and committees expected to accompany the changes approved by the AGM.
The AGM also approved a five-year development plan aimed at expanding the cooperative’s services and reaching out to more people. This plan is expected to contribute to the growth of the organization and its members.
Members were equally impressed with the Key performance indicators of the union, showing that the credit union was able to mobilize savings of 1.9 billion FCFA in 2025, taking its total balance sheet to 13.7 billion, up from 11.2 billion the financial year ending.
BACCCUL also registered a total of 1,138 new members in 2025, bringing the total membership to 16,714 members.
The members applauded Management for the innovations brought about, the strengthening of the loan policy and the expansion of the union over the last year.
The Board Chair, Aghem Christopher Feh, revealed that the union is waxing strong despite the crisis and some delays recorded during the post electoral violence in the country. He equally made mentioned that the eighth branch of the union that was recently opened in Kumba on the 24th January 2026.
The President further said promotional committees have been created across all the branches to canvass for new members.
The BOD chair however regretted that loan delinquency was still high, standing at 46.3% down from 51%. He further explained that with the coming of the crisis, several loans became delinquent. He went further to assured that the BOD has taken measures towards solving the delinquency. oThis include amongst others he added, the restructuring of some loans, rescheduling and re-financing others. In some rare cases, an amicable settlement has been done. To others who have deliberately refused to comply, the union has proceeded to court action and have retained their collateral which will be sold to members in the days ahead.
The General Manager, Gabila Abel Foncham, expressed delight at the improvement on services rendered, reasons why the mobilization of members has been smooth. He equally spoke about modifications of the union loan policy which is meant to encourage economic operators and the reduction of interest on loan for those using the salary code from the Ministry of Finance.
As mentioned last year during the 56th General Assembly of the Credit Union held in Bamenda the electronic banking system which will interconnect branches and facilitate the digital banking services of the union will go fully functional in 2026 to ease members transactions across all branches. It will be worthy of note that the loan policy of BACCCUL now carries the special savings facility and those who adhere to this scheme will pay an interest rate of just 0.5%. Their interest above savings has been reduced to 1% and 1.3% depending on the type of loan contracted.
A team has also been put in place to educate members on the type of loans to take how investments should be carried out, how returns should be paid to the union without destabilizing business.
Mr. Gabila Abel also Announced that Agricultural loans and business loans to economic operators, small and medium-sized enterprises, container-clearing loans and other loans facilities are offered at the credit union.
Bali Central Cooperative Credit Union Limited plans to intensify recovery in 2026, sell of the collaterals of bad loans, complete the centralized programme and renovate the head office.
The new blood injected into the Board and Committees were; Mr. Awah Henry Tibuh as Vice President, Mr. Ninpa Francis Nandoh as member of the Supervisory Board, Mme. Muga Gertrude Nyamndi and Florence Kahnah for the Women Committee and Elvis Pivadga and Desmond Ndipnu for the Youth Committee.
BACCCUL today stands tall with Branches in Bali, Bamenda, Douala Bessengue, Douala Bonaberi, Yaoundé, Limbe, Mutengene, and Kumba.