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Business News of Sunday, 19 April 2015

Source: The Median Newspaper

KIPCCUL extends tentacles to Bamenda

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As part of its nationwide extension plan, the Kimbo Police Co-operative Credit Union Limited, KIPCCUL, Micro Finance Establishment has opened a new branch in Bamenda. The branch situated at S Bend, Mile 3 in Nkwen comes to supplement the already existing full scale Branches in Yaounde and Douala.

Apart from the branches KIPCCUL has a main office at Kumbo in Mbveh along the Tobin Road and 2 Collection Centers at the Kumbo Squares, adjacent TEXACO Petrol Station; and at Tobin along the Tobin-Mbveh road.

Speaking to The Median on the future of KIPCCUL in Bamenda amidst stiff competition from other credit unions, KIPCCUL Bamenda branch manager, Ntani Paulinus Tangka said being the mother of most credit unions, they are capable of weathering the storm of competition.

“Just the mere fact that within barely a month of existence and we have a membership of over 100 is testimony that KIPCCUL is up to the task” he noted.

The Kimbo Police Co-operative Credit Union Limited (KIPCCUL) MFI - Micro Finance Establishment was founded in 1969 thanks to the moral and spiritual encouragement of the then Commissioner of Public Security for Bui Division - Sanyi Ngong. He inspired some 16 elements of the Bui National Security to come up with a thrift and loans scheme (njangi).

The take-off was very informal and membership was limited to the Police personnel of the Nso and Nkambe National Security with borrowing above savings permitted with no formal policy.

The Union became affiliated to CAMCCUL on the 30th of May 1973. However at the 42nd annual general meeting of the Credit Union that took place in Bui they resolved to disaffiliate from CAMCCUL and join RECCUCAM.

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