Mitanyen Cooperative Credit Union Limitted has toiled to ensure that members continue to trust their services despite the difficult living conditions the crisis is inflicting in every sector of the society.
The massive presence of members at the Annual General meeting that held on Saturday January 14th 2023, was proof of the concern members have in the growth in the union. In the hope to make amends and ensure that more members join the MitaCCUL familly.
Members of MitaCCUL
The credit union has recorded thousands of members, with many more joining the fold as the day goes by. The President of MitaCCUL, Muluh Stanley confirmed this and added that, despite the challenges that members faced, they continue to save money daily.
"New members will join the fold, given the interest rates we have paid within the crisis. This is a big achievement, a big boaster to us. Our interest rate stands at 4%", MitaCCUL's President.
President speaking at AGM 2023
Adressing the situation of deliquency was a major concern at MitaCCUL's AGM. A situation that some members take loans and are not unwilling to pay back. The President explained that the crisis has been a push factor behind such acts and promised the general assembly that there will be no relent in efforts to do follow up.
"We have to improve on deliquency, which is a problem we are facing. Entangled with the current crisis we are witnessing. We've been able to do buisness amidst the crisis and we are finding solutions to live and survive within the crisis. There is need to find means that will enable us sustain our union, services amidst the crisis", Muluh Stanley, President.
In other to fill up vaccuum and ensure efficiency in management at MitaCCUL some persons were called up to duty at the level of some committees.
Youth Committee
Women committee
Board Members
On the part of different committees put in place by board members of MitaCCUL, the youth committee is making efforts to sensitize members who are loosing hope due to the hardship they are facing. Encouraging them not to close their accounts.
The women committee on their on part have worked with 16 groups to ensure the growth of the union, though they listed some of their challenges being; lock downs, ill health. This committee encourages deliquent members to pay their loans, as more than 200 women took loans to aid them breakthrough their challenges.
The supervisory board had over 9 working sessions in 2022, 1 control mission to other cash up points within the Northwest region and branches in other regions. To ensure that the budget is well excecuted and files of all members studied.
Laureates at MitaCCUL
MitaCCUL's management did not fail to greese the efforts of some members who stood out in executing their task over the years. One of the laurates Grace Ngwafor, a supervisory board member for over 9 years of service at MitaCCUL says it's been a long road of thorns and roses.
Grace Ngwafor, Supervisory Board member
-Laurate
"Serving as secretary of the supervisory board at MitaCCUL which is the watch dog of the union has provided me with many lessons. Working with the supervisory board is a daunting task. I had to go through the books of the credit union, the budget; to ensure it is well executed, if the budget headings were followed and if the partern to spend the budget was followed".
"I also had to look at the loan size; if loans were properly granted, see if the securities are there for the loans to be recovered. Go through the files of workers, board members. Because of my stay at the supervisory board, I have known much about the cooperatives and how it functions".
Mitanyen Cooperative Credit Union Limitted promises to remain a reliable financial partner at all times.