The Renaissance Cooperative Credit Union of Cameroon (RECCU-CAM) has reaffirmed its commitment to good governance, institutional growth, and financial innovation with the opening of a Training Workshop and Capacity Building Seminar for Elected Officials, Managers, Accountants, and Loan Officers of its affiliate institutions.
Held at the Pastoral Center in Bamenda I Subdivision on Saturday November 8, 2025, under the theme “Strengthening Governance and Building Sustainable Growth within the RECCU-CAM Network,” the event brought together cooperative leaders and practitioners from across the country to deepen their understanding of governance, compliance, financial management, and ethical leadership.
“A Crucial Step Toward Sustainability and Excellence”
In his keynote address, Derick Ndonwi Shu, President of RECCU-CAM, described the training as “a crucial step toward strengthening the foundation of our network and preparing it for a future of excellence, sustainability, and shared prosperity.”
He emphasized that the capacity-building initiative was designed to empower affiliate institutions through six key areas: governance and leadership, financial accountability, regulatory compliance, risk management, institutional growth, and ethical conduct.
“Properly trained leaders make informed decisions, strengthen transparency, and build trust,” President Shu remarked. “These sessions will help reduce mismanagement and foster a culture of integrity that ensures the sustainability of our institutions.”
He further underscored the role of accountants and loan officers in maintaining financial health, highlighting the need for compliance with national and international regulations such as COBAC standards, anti-money laundering, and data protection requirements.
Upholding RECCU-CAM’s Core Values
President Shu reminded participants that RECCU-CAM’s growth rests on six core values: Integrity, Accountability, Respect, Commitment, Cohesion, and Transparency.
“These are not just words written in our statutes,” he said. “They are principles that must guide our governance, our accounting systems, and the way we interact with our members and partners.”
He called on participants to embody these values in their day-to-day operations to reinforce the credibility and unity of the network.
Two Groundbreaking Projects Announced
The event also marked a historic moment for RECCU-CAM as President Shu unveiled two major projects poised to redefine the cooperative landscape in Cameroon.
1. The Vocational Training Institute for Microfinance and Entrepreneurship (VTIME)
Set to become operational in 2026, the institute aims to be a center of excellence for training professionals in microfinance management and entrepreneurship.
“This is the visionary RIFA project we have been working toward for many years,” President Shu said. “It will empower our affiliates, young entrepreneurs, and community leaders with the knowledge and skills to drive sustainable development.”
He credited Dr. Achu Kenneth as the key architect behind the project, acknowledging his tireless efforts in making the dream a reality.
2. The RECCU-CAM Affiliates Banking Platform
The second major announcement was the launch of the RECCU-CAM Affiliates Banking Platform, an innovative financial service designed to strengthen liquidity and collaboration among member institutions.
“This platform symbolizes our continued drive toward modernization and financial inclusion,” the president explained. “It will create a shared financial ecosystem where affiliates can access services, strengthen their financial base, and better serve their members.”
Affiliate Banking: A Lifeline for Credit Unions
Expanding on the new initiative, Sanyi Louis Yefe, General Manager of RECCU-CAM, described affiliate banking as the cooperative sector’s version of a Central Finance Facility, a model widely adopted by cooperative movements globally.
“Our affiliates often rush to commercial banks for loans under tough conditions,” Yefe noted. “But why seek financing elsewhere when your own network can offer support at more favorable terms?”
He announced that RECCU-CAM will be offering loans to affiliates at 0.6% per month (7.2% annually) — a rate far below market averages.
“We are the mother and father of our affiliates,” he said. “This initiative is about helping them grow, ensuring liquidity, and enabling them to better serve their members. We have managed funds responsibly for over 12 years, and this next step will only strengthen our network.”
Voices from the Field: Affiliates Welcome the Initiative
The enthusiasm among participants reflected widespread optimism about the future of RECCU-CAM’s network.
Nkweti Miranda Fianwa, General Manager of Mmuock Leteh Cooperative Credit Union Ltd (MuleCCUL), praised the training’s relevance and impact:
“This workshop will help us train our boards, supervisors, and loan officers. It equips us to better assist our members, particularly small-scale business operators. The new Affiliate Banking system will allow us to save, withdraw, and obtain loans more easily especially for smaller credit unions that struggle with liquidity.”
Similarly, Fola Yvonne Tamambang, Network Accountant at Bambili Cooperative Credit Union Ltd, highlighted the value of learning about governance, COBAC principles, and the Affiliate Banking Platform.
“Affiliate banking is like having RECCU-CAM as our primary bank,” she explained. “It strengthens our liquidity and provides emergency support when needed. It’s comforting to know that our umbrella institution understands our operations and can respond swiftly.”
A Call to Collective Action
Concluding his address, President Shu urged all participants to approach the training with “openness, curiosity, and a spirit of collaboration.”
“The future of RECCU-CAM depends on your leadership, your integrity, and your ability to uphold the values that define us,” he said. “Together, through good governance and shared commitment, we will build a stronger, more resilient, and more impactful network, one that continues to serve as a beacon of trust and development in our communities.”
About RECCU-CAM
Founded over a decade ago, RECCU-CAM serves as the Apex institution for cooperative credit unions in Cameroon, providing leadership, oversight, and financial services to its network of affiliates. Through continuous training, innovation, and a firm adherence to cooperative principles, the organization has positioned itself as a driving force for financial inclusion and community empowerment.
Comments
Post a Comment