NTARINKON COOPERATIVE CREDIT UNION LTD (NTACCUL)-MFI

by Tangwing Pius Monji
(Buea-Cameroon)

NTARINKON COOPERATIVE CREDIT UNION LTD
(NTACCUL)-MFI
LOCATION: AFTER NTARINKON MAIN MARKET TOWARDS SACRED HEART COLLEGE BAMENDA
TELEPHONE: +237 677 27 95 70, 333 36 36 00, 675 22 33 05

MOTTO: To improve the economy and social well being of its members.

At NTACCUL beggars can save, take loan and graduate from beginning.

Ntarinkon Cooperative Credit Union is a saving lending credit union that started in 1972 with 15 members. Today, it numbers about 27000 members from all works of life and from all the regionS in the country. It has the status of a micro-finance institution and it is registered under the ministry of finance with registration No MINEFIN No 00395.

HOW TO BECOME A MEMBER
Visit any of their branch offices in any town in the country, inform the person at the counter about your interest to become a member, a membership application form will be given to you to fill. Pay a registration fee of 7500FCFA to make up your file, buy your required number of shares for 100FCFA each (minimum number of shares to buy is 5 and maximum is 35), submit 3 passport size photographs, declare your next of kin and submit a photocopy of your ID card. This makes you a full member. The share will be refunded to you upon closure of your account.

BENEFITS TO MEMBERS
- There is security on members savings and loans through risk management scheme at no extra cost.

- There is free financial counseling, advice and business planning to members.

- Members attend and participate in decision making at the annual general meetings of the credit union.

- At the credit union there exist security and confidentiality.

- There is very low interest placed upon their loans.

- Benefit for pre-financing of contracts.

- Payment of salaries to members who are civil servants with the government or private sector.

- Interest is paid on savings and dividends on shares.

- Benefit from their new housing schemes at special rates. ETC.

THEIR PRODUCTS AND SERVICES
1. Shares
2. Deposit account
3. Minors account
4. Group account
5. Savings account
6. Payment of salaries
7. Standing order
8. Overdraft facilities
9. Contract financing
10. Njangi financing
11. Money transfer services
12. Plot financing
13. Micro credits scheme

CONDITIONS TO BENEFIT FROM THEIR SERVICES
- Joint daily savings scheme and save regularly for 1 month.

- The credit union will open you an account and a loan of 5 times more than your monthly savings shall be granted to you.

- The interest rate shall be 1.5%.
- Repayment term is daily.
- Security shall be your business site and stock.
- Maximum amount to loan shall be 500.000FCFA.

BRANCH OFFICES
- DOUALA
- BUEA
- YAOUNDE
- BERTOUA
SAVE REGULARLY, BORROW WISELY, REPAY PROMPTLY