By Fokum Pivaga Emmanuel
The Bali Central Cooperative Credit Union Ltd (BACCUL) on Saturday February 8th 2025 at the Big Mankon Cathedral Hall held its 56th Annual General Meeting, bringing together members to discuss the Credit Union’s progress and Future Plans.
The AGM featured Reports from the various Committees highlighting the achievements and challenges faced by BACCUL within the year 2024. The Reports also highlighted the importance of members working together and in the decision making machinery.
Note worthy to members at the AGM was the announcement of an increase in the interest rate to 6%, a move aimed at providing better returns to members and the Reduction of withdrawal Charges without prior notification from 1.5% to 1%
The AGM saw the unveiling of a 5-year ambitious plan to further grow and strengthen the Credit Union by the General Manager Gabila Abel Foncham.
This shows that BACCUL remains committed to its Community-focused approach, prioritizing the needs of its members.”The Bali Central Cooperative Credit Union Ltd has come a long way since its inception. Today, it stands as a testament to the power of Community and Cooperation.” The Manager said.
We are bringing proximity banking, while expanding on our service outreach and investing in digitalization so that in future there will be no need coming to the bank but accessing your account and doing your transaction directly from home Mr. Gabila added.
He also said Bali Central Cooperative Credit Union Ltd will continue to work towards its goal of providing excellent services to its members.
The Presidents of the Board of Directors Aghem Christopher Feh on his part disclosed that the Credit Union in 2024 recorded some successes. To encourage more people to join the Credit Union, a referral program has been introduced so that members who bring in New members will go back home with a reward of 2.000Frs.
The President also unveil plans for the Credit Union to expand its services to New Areas. This of course will help to reach out to so many people, bring about growth in membership, thereby making the cooperative to contribute in the development of the region.
Some outgoing board Members were given certificates as a sign of their hard work and dedication to BACCUL.
BACCUL was created in 1968 with less than 10 members and operating under the slogan the “TREE OF KAP IS PLANTED BY THE SEED OF KAP”. Today BACCUL counts over 15 thousands members with head quarter in Bali and 7 branches in Bamenda, Yaoundé, Douala, Muntengene and Limbe with a Staff strength of 75.
