*By Gerald Ngeh.*
In a recent ceremony, Fako Senior Divisional Officer, Viang Mekala, hailed Ntarinkon Credit Union through their GM Divine Ade Muma as a national pride in the microfinance sector. This accolade is a testament to the institution’s commitment to providing excellent services to its members and the general public.
With over 92,000 members spread across Cameroon, Ntarinkon Credit Union has established itself as a leader in the microfinance sector. The institution offers a wide range of services, including savings accounts, loans, micro-credits, money transfer services, and plot financing.
One of the standout features of Ntarinkon Credit Union is its commitment to paying a 6% interest rate on savings, a rate that is unmatched in the microfinance sector. This, coupled with its low-interest loans and flexible repayment terms, makes it an attractive option for individuals and businesses looking to access financial services.
Ntarinkon Credit Union has also been at the forefront of digital transformation, introducing ATM machines, prepaid Visa Cards, and an online banking APP. This allows members to access their accounts and conduct transactions from the comfort of their own homes.
The institution’s commitment to community development is also evident in its loan schemes, which cater to a wide range of individuals, including businessmen, farmers, and civil servants. With over FCFA 35.8 billion in outstanding loans, Ntarinkon Credit Union is playing a significant role in supporting the economic development of Cameroon.
As the Fako SDO emphasized, Ntarinkon Credit Union is a veritable partner with the state, contributing significantly to poverty alleviation and financing the economy of Cameroon. The institution’s ability to pay salaries of over 5,000 civil servants after receiving a salary code from the ministry of finance is a testament to its commitment to supporting the state’s efforts.
The Board Chair, Barrister Akuma Miranda Bih, traced the history of the 52-year-old credit union, which started as a saving scheme (Njangi) where pioneer members contributed from FCFA 5, 10, and 100. Today, Ntarinkon Cooperative Credit Union has a total of 92,210 members spread over the national territory and managed from a network of 14 branches ¹.
The institution’s commitment to innovation and digital transformation is evident in its introduction of ATM machines, prepaid Visa Cards, and an online banking App. The Board Chair highlighted that the institution’s project to open its digital and card payment to interbank transactions via GIMAC is near completion, and in the days ahead, holders of GIMAC cards issued in any CEMAC country will be able to access their services from Ntarinkon Credit Union’s ATM machines.
The colorful ceremony to launch the new branch in Mile one Limbe was attended by a cream of the Fako Divisional Administration, traditional and religious leaders. Ten workers of the Union were awarded by the state through the SDO of Fako Viang Mekala to various medals of honor, including three gold medals and seven Vermeil.
As Ntarinkon Credit Union continues to grow and expand its services, it is clear that the institution will remain a major player in the microfinance sector in Cameroon. With its commitment to innovation, community development, and excellent customer service, Ntarinkon Credit Union is indeed a shining example of excellence in the microfinance sector.
