Members of the Azire Co-operative Credit Union Limited, AZICCUL, have renewed their trust in the Board of Directors led by its president Barrister Divine Nde Momuluh.
Meeting Saturday, February 26, 2022, in their 53rd Annual General Meeting at the esplanade of the Ayaba Hotel in Bamenda, it was disclosed that the union witnessed an upward business trend during the year 2021 with a 6% increase in membership.
In the elections of the Board of Directors, out of the eleven applicants, six were chosen to replace those who had come to the end of their mandates. The RECCUCAM well-conducted elections led to the voting of Barrister Divine Nde Momuluh, Nji Sylvanus, Fortu Nixen, Mumbari Joseph, Tumasang Solomon, Che Mirabel and Ngum Maurine with Barrister Divine Nde Momuluh voted and maintained president of the Board of Directors while Che Mirabel grabbed the post of Vice president.
Barrister Divine Nde Momuluh, President Board of Directors of AZICCUL
While speaking to the media, Barrister Divine Nde Momuluh president of the Board of Directors with a three years mandate, promised to do better from where he started and promised the co-operators an increase in the interest rate under his leadership of the Credit Union.
"It is not strange given that the results are clear but one thing which stands out clear is that I think about the future for them, we want to build AZICCUL to stand the test of time. The secret I have been using is hard work the commitment to carry on. The interest rate is not just gotten by accident, it is hard work for we had to strategize, move staff and put them where they are performant and ensure that people sit up and work, and as a result of that, the outcome is clear. I aim to take AZICCUL to become digital and so meet with the rest of the world", Barrister Divine Nde Momuluh said while insisting that the Credit Union by March and April will be moving into the E-banking system.
According to the three years business plan as laid forward by the president of the Board of Directors, it includes the continuous need to develop new marketing strategies, continue to improve on the loan portfolio and security management, attain an active membership of 53,335, open new branches in urban and rural areas, comply with COBAC norms amongst others.
To note that AZICCUL currently counts twelve branch offices with Buea, Douala-Marche central, and Limbe branches upcoming.
About membership, the Union registered 3,210 new members in 2021 as compared to the 49,215 total members in 2020 with a projection of 3,491 members this 2022.
The business year 2021 which had so far been realistic thanks to the leadership qualities imposed by Barrister Divine Nde Momuluh, had the Union's shares, savings, and deposits all increasing by 4,10, and 9 percent respectively despite challenges faced due to the coronavirus pandemic.
The growth in the activities of the Union's branches especially in less-affected regions has continued to be impressive given that the sustainability of the Union is thanks to its branches out of affected crisis regions. As the growth rate increases, the Union plans on opening other branch offices to accommodate members to conveniently do business with the union.
With the new age of technology on the rise, AZICCUL has gone digital with the introduction of the CUMAS 5 software from TEKSOL company which has so far improved the quality of services rendered to customers coupled with the computerization of the union.
The difficulties in the business environment did not however perturb AZICCUL from increasing the payment of interest on savings from 2% last year to 4% while applauding members who during the year did not only borrow but repaid promptly.
Vacancies that existed in the union being the Board of Directors, Supervisory Board, and Women's Committee were all filled thanks to elections conducted by the RECCUCAM network which is the umbrella organ of the Union who so far counts close to 30 Credit Union under its network.
By Nji Nelson Chefor
0 Comments