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Members of The Chinde Solidarity Cooperative Credit Union (CHISCCUL) have been told to be ambassadors so as to attract more members to join the union.
Billa Lucas Ade, president General of CHISCCUL made the appeal to members during the second Annual General Meeting (AGM) held on Sunday March 24, 2024
CHISCCUL members should “remain Steadfast with the Credit Union so as to bring in New Members” he said.
In his management report, Mr. Billa acknowledged that CHISCCUL has taken strides towards a brighter future. ” We were creeping a few years back but today we are struggling to Stand and Walk as seen in the Management report” he added. CHISCCUL he continued has grown in terms of membership, share capital, deposit and loans progressively in 2022 and 2023. This sustained growth is thanks to CHISCCUL keeping true to the credit union slogan “borrowing wisely and paying promptly.
Abah Robert Achu chairman of the Supervisory Board further credited the growth thanks to RECCUCAM, the umbrella organisation that supervises CHISCCUL and the input from other financial bodies.
He appreciated the work of the board of directors and the Supervisory Board and the Credit/Risk Committee. He challenged the Women and Youth Committees to be active on the field.
Ngwa Ndonwi representing RECCUCAM, observed that CHISCCUL is doing great especially as it has done everything to be recognized by COBAC. He also appreciated the growth rate of 29% indicating an increase in Savings to 228.184F CFA in 2023, an increase in the deposit from 64.500 fcfa in 2022 to 185.600fcfa in 2023 representing a growth rate of 188% and a drop in Loan delinquency from 86.6% in 2022 to 44.8% in 2023.
CHISCCUL proposed budget for 2024 stood at 3.6 Million FCFA in Income and Expenditure with a Capital Budget of over 11.9 Million FCFA. CHISCCUL is presently working on opening a collection centre at the Bamenda Food Market. Muma Ade Cletus who was with the union since creation has been appointed Manager.
PA Tabufor Joseph, quarter head of Chinde quater promised to come help the young baby grow to its full potential.
Thé AGM saw the coming into the Board of Mme. KOKWA CAROLINE and Mme. AMBO PRUDENCIA into the Supervisory Board and TENNING BLAISE and TATA Charlotte into the Youth Committee.
The AGM ended with the Award of Prizes and Merry Making.
CHINDE Solidarity Cooperative Credit Union is located at CHINDE QUARTER in Mankon, Bamenda II Sub Division. It was created on 24th January 2021.
