Thursday, December 26, 2013

CamCCUL Pledges Enhanced Liquidity and Security of Investment

(NewsWatch Cameroon)-In a recent three-day meeting, staff of some 43 credit unions that make up the Bamenda chapter of the Cameroon Cooperative Credit Union League, CamCCUL were told to uphold the virtues of the association by ensuring liquidity sufficiency to members at all times especially during this period of the year through the application of proper management skills.
The participants at the seminar were mostly managers, loan officers, accountants and internal controllers who constitute the main persons in management that can bring change. According to the supervisor of the Bamenda chapter Mr. Fombon Raphael, the forum was an opportunity for board members to meet with the management staff and so get abreast with the day to day technical operations at credit unions, given that the management personnel are employed technicians and the Board of Directors (BOD) is the policy holder which must get acquainted with the technicalities before taking decisions.
In the opening speech, the chapter President, Musa Shey Nfor drew attention to two key components of proper operations: liquidity management and security of investment. He elaborated on the fact that the management staff and the BOD must be able to know when members have huge deposits and huge cash loans. Credit Unions must be able to strike a balance between the needs of businessmen for massive, project-financing loans and the demands by members for cash from their savings to celebrate Christmas and other end-of-year events. For Musa Shey, in the final analysis, cash flow liquidity must be ensured for members’ operations.
As regards security, credit unions were advised to work hand in glove with the administration in other to ensure the intervention of law enforcement when attacked.  Staff must steer clear of behaviour that could attract armed robbers, especially when in possession of huge amounts money.
The Divisional Officer of Bamenda II, Mr. Etoi Peter who presided over the opening ceremony observed that the CamCCUL network is doing a marvellous job especially as regards the training of staff. He went on to remark that the many innovative seminars on how to improve management and put in place security measures on members’ investment was evidence of good management which should undoubtedly have a positive impact on the livelihood of members of credit unions. For the chief executive, CamCCUL is undeniably the biggest microcredit network in the country that is fighting poverty and ensuring growth in communities through her activities.
By Ndi Eugene Ndi

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