AziCCUL Commends Members For Standing Firm Despite Attacks From Detractors

AziCCUL Board Of Director President, Bar. Divine Momuluh 

By Raymond Dingana 

The President of the Board of Directors of the Azire Cooperative Credit Union LTD AziCCUL, has appreciated members of the financial institution for their continues trust in the credit union notwithstanding social media campaigns to break its back.

Bar. Divine Nde Momuluh was speaking Saturday January 27 during 55th Annual General Meeting AGM of AziCCUL that held in Bamenda.

He said members have continued to do business with the union thanks to the trust they have for AziCCUL, trust he said, can't be broken by social media attacks by those who are only out to destroy.

He said:

"the last quarter of the year saw the circulation of Fake News from social media bloggers indicating that FCFA 2 billion of the Union's money by a loan which is delinquent was used to finance the Senatorial and Regional Council Elections, and that the Union was in liquidity problem."

He furthered that 

"AziCCUL is growing from strength to strength contrary to information that we have liquidity issues. We have actually gone above the normal 100% to 136% as provided by COBAC. We want to assure members that AziCCUL has it's liquidity strong  and we still beat the record as the leading micro finance in the whole Republic. Our interest rate is 4.5 as compared to 4.2 last year."

He added that though the conspiracy slackened businesses especially as some members were not aware of the bad intentions of the detractors, or by members who had no clue of the remote causes of the crisis the union was facing.

AziCCUL Board Of Director President, Bar. Divine Momuluh 

In defiance of the challenges, AziCCUL was able to register a total of four thousand, two hundred and sixteen new members in 2023 compared to fifty five thousand, five hundred and ninety eight in 2022. 

The union is also strategizing to admit four thousand, three hundred and fifty seven new members in 2024.

Shares also increased from FCFA 2 billion, 88 million from 2022 to FCFA 2 billion, 989 million in 2023.

Savings witnessed a record from FCFA 36 billion,706 million in 2022 to 39 billion, 824 million in 2023.

Cross Section Of AziCCUL Members At The AGM 

He has nonetheless cautioned members to be more vigilant because the distractors are still active.

In order that people's money remains intact,Bar.Momuluh explained that security will be fortified.

"We have provided and shall continue to put security measures when and wherever possible. This shall include and not limited to electronic gadgets, infrastructural cloud dispositions and physical security, all these for our collective protection and welfare."

The credit union is also making it possible for members to carryout transactions using their mobile phones thanks to digitalization.

To further generate income for AziCCUL, Bar. Momuluh indicated that they are erecting a structure at the Obili neighborhood in Yaounde that would host the backing sector of the credit union, and the rest would be a hotel and a conference center.

On loan delinquency which is also a problem for AziCCUL, the board president said they have adopted a zero tolerance policy to be sure that those who take their money must pay back.

With everyone talking about peaceful resolution of conflict, board members of AziCCUL have resolved to put in place a commission of reconciliation to handle issues peacefully, rather than wasting resources on court cases.

AziCCUL now boosts of 13 branches Northwest, Southwest, West, Litoral, and Center Regions of Cameroon.

For any inquiries, +237 676238865 for calls and WhatsApp 


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