MmoCCUL’s 10th branch goes operational in Kumba

The official launch of activities at the new MmoCCUL’s branch in Fiango, Kumba II Sub Division took place on Wednesday, March 20, 2024.

“MmoCCUL has expanded its attractive services to Kumba to play a key role in alleviating poverty,” says George Changeh board chair of the credit union.

Mr Changeh was among a host of dignitaries who attended the ceremony including the Mayor of Kumba II, Mbachu Jacob Kay.

The board chair enjoined Kumba denizens to “join and benefit from the credit union”.

Moved by its attractive services presented on the occasion, the Mayor opened his account and urged the population of his municipality to do same. “You shall have my support,” Mayor Mbachu told the management of MmoCCUL, most of whom have lived in Kumba town.

The decision to open a branch office in Kumba was taken during the recent Annual General Meeting (AGM) of the credit union last January.

“Our key performance indicators prompted us to come to Kumba because more than 100 accounts have been created by sons and daughters of Kumba in our other branches,” Ngezem Fortsomo Skyly, General Manager of MmoCCUL said.

Kumba, being the economic capital of the South West region, it was imperative for MmoCCUL to have a branch there, coupled with the fact that the union started in the region on March 16, 2016, precisely in Alou market, Alou Sub Division, Lebialem Division.

The credit union is going to Kumba at a time when it’s management have opted for innovations, like a newly acquired software that makes transactions possible, even in the absence of electricity supply.

“Members can now access their accounts in any branch of their choice and at the comfort of their homes,” the GM told News Upfront.

Speaking at the launch, the GM announced that the government of Cameroon has selected MmoCCUL in the community development project (FODEC) and “the Kumba branch has been chosen as the pilot branch of the project”.

According to the Kumba Branch Manager, Mumford Elizabeth, the branch is well equipped to manage the project. “It has a standby solar system to ensure service continuity in case of power failure”, she said. 

Created in 2016 with just 14 members, the credit union as at January 2024 had over 8,500 members. 2,178 of such accounts were created just last year. In 2023, MmoCCUL witnessed a 33% growth in members’ shares, thanks to the quality of services offered.

MmoCCUL is now represented in 5 of the 10 regions of the country with branches in Yaounde, Douala, Bafoussam, Dschang, Bonaberi, Bamenda, Buea and now Kumba.

Mmockmbie credit union has positioned itself across the county gaining attraction from members and winning awards from institutions. The recent awards was from The Guardian Post Newspaper which awarded MmoCCUL as the fastest growing digital friendly microfinance institution in Cameroon.