Being one of the best and finest Cooperative Credit Unions in Cameroon that has stood the test of time since 1968, the President of Azire Cooperative Credit Union Continues to persuade members to promote its services in order to get new members benefit from their services.
The President told press about the quality services the Union offers with an envisaged increase in interest rates for members in the months ahead, given that members promote the services of the union, despite the armed conflict and health crisis, Covid19.
"Our Interest rates are really favourable, we can pay 5 or 6 percent to our members, as from next year, we are in a crisis and let's manage it and see how it goes. Its all about us and members, promoting the services of AZICCUL in order to get these interest, which are very attractive. Members own the buisness and should promote it" President of AZICCUL.
This request came from the management team to its members on February 6th 2021 during the Unions Annual General Meeting, which held despite the health challenges faced, in the era of the armed conflict rocking the NorthWest region.
The Manager continues to assure the public about the safety of members finances, adding that this is one of the reasons why members increasingly have confidence in AZICCUL's services.
"Being a member of AZICCUL means you have numerous advantages, you have a safe place where your money is kept and you are sure you are able to get the money at any given"
"As for innovations given the Covid 19 pandemic and the crisis we are currently facing, strategies will be laid to manage and sustain our members within this period, giving micro loans to members without necessarily borrowing them with high Interest rates."
The credit union generates its income from loans and will have need to educate its members on how to get loans. They trust that their money is safe and forget that they will have to borrow someday.
The President of AZICCUL is focused in building confidence with its members and to have a growing number of new members, yet he mentioned some of the challenges faced.
"We have problems of loan deliquency something we are working on. The kind of income we were making 5years back is not thesame today, though the crisis has played its on tone on us then the Covid 19 pandemic. But we have done our best to build confidence in our members"
"Both crisis is causing the union to delve into another phase of backdrop in credit unionism.we will develop new and more strategies in order to continue in buisness, we will not stay behind, encouraging members to serve,borrow wisely and pay promptly so we grow to great heights" President of Union.
At the end of the financial year, AZICCUL plans to embark on new innovations. Making sure good management is key, suggesting tough strategies in order to scrutinize everything and protect the money belonging to members and to pay back members'savings at anytime.
"We will go digital. Gone are those days members will cue up just to get their money. We want to put more ATM even at petrol points, making it more locrative for deposits or withdrawal."
The union is above 50 years old, about 53years, despite the armed conflict and the health crisis, it still stands firm as compared to other institutions that have closed. Being an award winner, the President tells Press that it is on the basis of competence, building confidence, customer services being the best and they plan to expand.
"We will move to Limbe, Buea and Douala; expending more in Douala, to have members that have moved away from the region to continue having a feel of their services, offering the best".
By Ndefru Melanie
ndefrumelany@gmail.com