The Alatening Cooperative Credit Union Limited (ALCCUL) -

Introduction to ALCCUL

Alatening Cooperative Credit Union Limited (ALCCUL) is a owned by its members. It mobilizes savings and grants loans to its members at low interest rates. It was created in May 2017 in Alatening. ALCCUL held her first meeting in Alatening with over 150 members registered on that same day. As at the end of the 2020 financial year, ALCCUL had mobilized a total of over 350 members and over 120 million FCFA as members’ shares and savings.

Alatening Cooperative Credit Union Limited (ALCCUL) is affiliated to the Cameroon Cooperative Credit Union League (CamCCUL) which is a a network of 208 credit unions that also offers microfinance services. CamCCUL re-registered under the cooperative law in 1994 and has been registered by the Banking Commission of Central Africa (COBAC).

Mission Vision and Values

ALCCUL was set up in 2017 in Alatening, premised on the following vision and values:

Alleviate poverty in our community as it will provide access to financial services, boost our standards of living in a sustainable manner as well as assist us in attaining most of the Millennium Development Goals(MDGs) and Sustainable Development Goals (SDGs)
Give members economic power and financial autonomy
Bring finance and access to finance nearer to the people of Alatening in order to catalyze local empowerment and development in Alatening and beyond.

ALCCUL Products and Services

ALCCUL offers a wide range of financial services including:

Accounts management services i.e. Share Accounts, Savings Accounts, Group Accounts, Minor Accounts and Deposit Accounts.
Loan Services
Facilities for payment of salaries
Money transfer (inter branch) services
Risk Management Schemes and services

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Types of ALCCUL Accounts

Share Accounts	This is the account that makes you a member of ALCCUL with a minimum of 30 shares to be held with a nominal value of 1000FCFA (paid in two or three installments). Shares can only be withdrawn at closure of account
Deposit Accounts	This serves as a current account which is intended to facilitate members’ day to day transactions. Withdrawals are done at will. Deposits attract small charges known as deposit fees at the time of depositing. No interest is paid on money kept in this account since it can’t be invested.
Savings Accounts	This is the backbone of the union. This money represents your permanent capital which yields interest monthly but paid to you yearly. Members are required to give a notice at least a month before withdrawals and are also required to save at least twelve (12) times a year.
Group Accounts	Groups such as families, ‘njangi groups’, village meetings, village councils, churches, schools, development associations, clubs etc. are encouraged to open an account with ALCCUL for the safety of their groups’ money.
Minor Accounts	At ALCCUL, you can open a savings account for your child from day of birth but operated by an adult on behalf of the minor until s/he attains the age of contractual capacity. You can withdraw from this account for education or medicals without any prior notification. Interest is also paid on this savings.

ALCCUL Loan Services

There two main categories of loans.

Loans within savings. These are loans guaranteed by member’s savings
Loans above savings. These loans are guaranteed by member’s savings and other securities such as real estate (land and building), standing order, sureties etc.

ALCCUL however encourages members to obtain loans especially for productive and additional income generating purposes ventures. ALCCUL’s experts are always on hand to provide technical support and guidance when development business plans and proposals which could be used for a loan application at ALCCUL.

The loan types offered by ALCCUL to its members includes the following: i) Consumption/social loans; (ii) Agricultural loans; (iii) School fees loans; (iv) Business loans; (v) Real estate loans;. (vi) Contract financing; (vii) Njangi financing; (vii) Golden loan s; and (ix)Special loans.

How to become a member of ALCCUL

The registration process for becoming a member of ALCCUL is relatively simple and consist of the following steps:

Visit an ALCCUL office or collection offices as indicated.
Fill out a standard membership application form with the assistance of a staff.
Submit 2 passport sized photographs
Submit a photocopy of national identity card(NIC)
Pay a registration of 10,000FCFA.
Buy minimum number of shares which is presently 30 at 1,000FCFA each.
Save at least 1,000FCFA on a monthly basis.

Membership Benefits

At ALCCUL, we believe that access to finance at the cheapest markets rates should be available to everybody. Belonging to the ALCCUL family, affiliated to CAMCCUL, proffers several benefits including the following:

Fast and accurate services
Guaranteed security of members’ financial resources with all personal transactions handled with strict confidentially
Members have a democratic right to take part in the decision making process on the smooth functioning of ALCCUL
Interest rates on ALCCUL loans are affordable
Interest is paid out on members’ savings yearly
No restrictions on deposits and withdrawals
Security of savings through an existing insurance scheme.
Ability to attend Annual General Assemblies (AGMs) and participate in the decision making of the organization
Free financial counselling and mentorship
Access to risk management schemes and services.

Branches /Collection Centres

ALCCUL has an expanding network of branches and collection centers in Cameroon. Innovative tools are currently being developed to increase access to the services offered by ALCCUL to the Alatening diaspora and others outside Cameroon.

Head Office	Alatening West Wing Alatening Multipurpose Community Centre Alatening, Santa Sub Division Cameroon Tel: +237680738753 Email: [email protected]
Operational Offices	Bamenda Activa Building Commercial Avenue Cameroon Tel: +237 677 630 574/677771693 Email: [email protected]	Yaoundé Mini Ferme Ets COMEC Building Cameroon Tel: +237 677783796 Email: [email protected]	Douala Adjacent Boulangerie Coaf Feu Rouge Bessengue Cameroon Tel: +237 699998455 Email: [email protected]

Members of the ALCCUL Board of Directors (BOD)

President	:	Ing Augustine Che Ngongban
Vice President	:	Justine Tantoh
Secretary	:	Ban John Beghabe Blaise
Treasurer	:	Attia Fru Judith
Members	:	John Atanga Taniform Nde Lucas Ngunang