Bayelle Cooperative Credit Union gives hope to an economically weakened population at 39th AGM

The Bayelle Cooperative Credit Union Ltd (BaCCUL) has reassured its members of financial stability and growth opportunities despite the economic challenges facing the population. This message of hope was at the centre of discussions during the Annual General Meeting (AGM) on Saturday 1 February 2025 in Bamenda, where members gathered to assess the union’s progress and chart a path forward.

Back view of members at the AGM

In his presentation, Fongu Julius, the President of BACCUL, highlighted the credit union’s commitment to its members. He acknowledged the difficult economic climate but stressed that the cooperative remains a pillar of financial support for both individuals and businesses. 

Fongu Julius Atanga addressing AGM

"We will love to remind you that the vision of BaCCUL is to improve on the living standards of her members through cheap, affordable and fast services.  Therefore, our main objective in the coming years is to invest members' savings in the best way possible to see that members who are the shareholders of this business get better rewards. " he stated.

Speaking to the press, the General Manager, Jaja Emilienne echoed similar sentiments, stressing BaCCUL’s commitment to improving members’ livelihoods. 

Jaja Emilienne addressing the AGM

“We hold on to the vision of upgrading living standards through quality services. The increase in interest on savings and the growth in membership are proof of our collective efforts,” she said. 

Emilienne maintained the union’s dynamic and inclusive approach, dismissing claims of tribalism. “We are not tribalistic. Our mission is to serve all members equally.”  

The Internal Controller Wainachi Lawrence praised BaCCUL’s innovative systems, including real-time transactions and a centralised platform, which have made financial services more accessible. 

“With the current difficulties, everyone has a place in BaCCUL,” he said, encouraging more people to join.  

Speaking during the AGM, the Board President Fongu Julius Atanga shared a message of gratitude and resilience. 

“Despite the high rate of competition in the microfinance sector and the insecurity we have witnessed since 2016, your faith and trust in this institution have kept us growing from strength to strength,” he said. 

President of BoD presenting report 

Fongu Julius  highlighted BaCCUL’s vision to improve living standards through affordable, accessible, and efficient services, emphasising that the union’s decisions are tailored to support crisis-affected members.  

The figures presented were an indicator to BaCCUL’s resilience. Membership grew by 1,345 in 2024, bringing the total to 17,866. Savings and deposits increased by 11.26%, while the loan portfolio expanded to 5.8 billion CFA francs. Notably, loan delinquency rates dropped from 42.12% to 37.9%, a result Atanga attributed to the union’s compassionate recovery approach. 

“For members willing to redress their situation, we work amicably to find solutions,” he explained.  

"Personally I am happy with the explanations given us today. With the crisis we are facing, some times you fear that you can come one day and hear that your cooperative has closed and your small thing is gone. They gave transport more than they have been doing and there is no reason to be angry." A member who wanted to be named Mary tells Hilltopvoices 

Members arriving for AGM

The AGM also permitted the Cooperative to update the list of Board members who received a unanimous endorsement of the members present 

Bamenda III Council Mayor addressing AGM ahead of installing new Board members 

The AGM served as a platform for members to express their concerns and share their experiences, reinforcing the cooperative spirit that has kept BaCCUL thriving. The credit union reaffirmed its mission to stand by its members, offering them a reliable financial partner in challenging times.

By Bakah Derick 

Email: hilltopvoicesnewspaper@gmail.com 

Tel: 6 94 71 85 77