New Workbook Goes Operation within CamCCul, Credit Unions

The reorganization of Credit Unions within the CamCCUL Network kick-starts today Monday 21. 2013. Even though some anti-democratic leaders have been raising storm in the tea-cup, the harmonization process according to what we gathered is gathering steam nationwide. The harmonization process confidential sources hinted begins in Kumba Town Cooperative Credit Union and over 180 credit unions will do same in conformity with the new workbook recently adopted on December 29, 2012 by CamCCUL General Assembly.  Here below is the road-map adopted by the entire network.

(The Extraordinary General Meeting of CAMCCUL LTD. Holding At Pastoral Centre, Bamenda on 29^th Day of December 2012, And Having Discussed and Deliberated on Various Issues Featuring on the Agenda, Hereby Adopts the Following Resolutions)

1) The CamCCUL network hereby congratulates the Supervisory Authorities H.E the Minister of Finance, and other relevant Ministries like MINATD, MINADER and MINJUSTICE for their guidance so far in the harmonization process

2) The final count of options for the mandate and term of office for elected officials of Credit Unions in the CamCCUL network was officially done. One hundred and ninety-seven (197) out of 199 Credit Unions successfully conducted the vote and the following results obtained;

a) On the issue of mandate of elected officials 159 credit unions voted for three years renewable twice, which represents 80.7% total voters (197) and 38 credit unions voted for three years renewable once representing 19.3%.

b) On the conditions of eligibility of elected officials, that is, whether all existing mandates should come to zero and fresh elections organized for everybody or not, 171 credit unions voted for YES representing 86.8% of the voters while 26 credit unions voted for NO representing 13.2%.

The General Assembly not having registered any contest or protest of the results from any Authorities or Credit Union hereby unanimously validate the results as obtained in the field.

Hence the new mandate in the CamCCUL network is three years renewable twice and all are eligible for elections.

3) Consequently the Extraordinary General meeting ratifies the majority position that the duration of mandate for elected officials stands at 3 years renewable twice and that all existing mandates should come to zero. This decision takes effect from the 1^st day of January 2013 in a non retrospective manner.

These decisions are hereby inserted in the CamCCUL Articles of Association and Credit Union Model Byelaws which are hereby unanimously adopted.

4) Considering this final position adopted today in accordance to the directives of the Minister of Finance, the CamCCUL Management is hereby mandated to come up with clear modalities and a calendar for total harmonization of Credit Union byelaws in line with the adopted majority position, follow by elective Annual General Assemblies in the said Credit Unions.

5) CamCCUL management is hereby mandated to come up with practical modalities for the implementation of these byelaws of the Credit Unions especially as to its registration with the competent authorities and the modalities for the election of new Board and other elected officials of Credit.

6) Management should ensure that the implementation of election modalities should take into consideration continuity in management, that is, the fluid running of the Credit Unions.

7) CamCCUL shall conduct elections for various Credit Union officials. The elections of Board Members of CamCCUL shall be conducted during the next Annual General Meeting of CamCCUL under the supervision of the MINFI. This procedure at the level of CamCCUL Board is considered as a transitional measure. Subsequent elections into CamCCUL Board shall follow normal CamCCUL rules and regulations.

8) The Credit Unions of the CamCCUL network respect the solidarity that exist in the network and vehemently condemn any acts that will destabilize and fragment the network thus allowing infiltrators to destroy our solidarity and strength. Any further attempts by whosoever to destabilize the network shall be severely dealt with.

9) Due to the disruption of our network activities by issues of comprehension of the OHADA law on Cooperatives and mandate of elected officials of the CamCCUL network, issues which are of primordial importance to our survival, like the taxation problems, delinquency, the stability of our Bank (UBC PLC) have not been given the required attention by CamCCUL network. CamCCUL Management is therefore mandated to concentrate its efforts henceforth to resolving the pressing issues of the network and ensuring the stability of our bank.

10) The Board and Management of CamCCUL are hereby mandated to take all necessary measures for the smooth execution of these resolutions. It should in particular organize the continuation of the harmonization process in the entire network.

Sign:

Teku Collins  &   Rabe Gaston

Secretaries

Guietang Bernard & Nteuge Joseph

Scrutineers    

Chapter Representatives

Chapter	Name of Delegate	Signature	Chapter	Name of Delegate	Signature
Bamenda	Mbaku Henry K.		Douala	Mme Tchatath Lec-Pron
Fundong	Wulba Jacob Tim		Fako	Tansie Joseph
Kumbo	Jaff Sylvanus D		Kumba	Anyambod John Mboh
Nkambe	Ndi Nsanwe Anthony		Mamfe	Nkemnge Aloysius
Bafoussam	Tatinou Felix		Garoua	Chi Clement

Musa Shey Nfor

President of CamCCUL

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