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Brief History of KIPCCUL

The Kimbo Police Co-operative Credit Union Limited (KIPCCUL) MFI –Co-op BOD Micro Finance Institution was founded in 1969 thanks to the moral and spiritual encouragement of the then Commissioner of Public Security for Bui Division - SanyiNgong. He inspired some 16 elements of the Bui National Security to come up with a thrift and loans scheme (njangi). These inspired men included Forbah Joseph, Ndifor Matthias, SheyNgoran Bernard, Ngalla Samuel, Nji Anthony, Wirsa Benedict, Chop Phillip, Ndeni Moses, Chakak Lucas, LukongEvaristus, Ndob Matthew, Chinje Paul, Muanze Francis, Mofor John, Mange Vincent and Kuvinyo Alphonse.

The take-off was very informal and characterized by a compulsory monthly savings "njangi" holding regularly at what was fondly called the "Nso Rank and File Mess" situated at the site of the present BB-91 Snack Bar at the Kumbo Squares. Membership was limited to the Police personnel of the Nso and Nkambe National Security; and borrowing above savings was permitted with no formal policy. Management started in the hands of an elected executive with no defined base until on the eve of the first ever Annual General Meeting (AGM), which took place at Nkambe on the 4th day of February 1970, that the first formal Board of Directors of 7 persons was formed. Membership of this BOD included the following:

⊕  President: Dinga Vincent
⊕  Treasurer: Nji Anthony
⊕  Vice Treasurer: Ndob Mathew
⊕  Vice President: Wirsa Benedict
⊕  Secretary: Ndifor Anthony
⊕  Member: Shey Ngoran Bernard
⊕  Member: Ndzerem Michael

This became the Board that oversaw the aforementioned A.G.M which applied for Affiliation to the Cameroon Co-operative Credit Union League Limited (CAMCCUL). After the said Affiliation Application, the records were audited for CAMCCUL by Gerald Wortel on the 20th of July 1971 when the financial year was hitherto fixed for 30th April of each year and monthly meetings fixed for the 10th day of each month or the 11th if the 10th day ever fell on a Sunday.

The Union finally became affiliated to CAMCCUL on the 30th of May 1973. Mr. Gerald Wortel and Mr. Tangka Joseph became the first CAMCCUL Inspectors to supervise and to advise on such issues like Cash Books, Minutes' Books, Credit Committee, Supervisory Committee, Payment of League and Chapter Dues, Creation of Reserves, and so on. The first League Dues of 2,500 Francs CFA were paid in 1972 while the first League Deposit of 1,000,000 Francs CFA was paid on the 3rd July 1972. Thereafter, attendance at League Meetings became a regular event.

Business however continued on the upward trend under regular supervision by CAMCCUL through different Inspectors. Annual General Meetings (AGM) became an annual event with varying accommodations according to the taste of time and availability.

As membership increased and became spread beyond the Division, the liability of transport expenses to attend Annual General Meetings (AGM) became a problem, which graduated from the total liability of the Credit Union to equal liability between Members and the Credit Union and to Members' total liability. The payments of Dividends during Annual General Meetings equally evolved from on-the-spot Cash Payment to Payment through Deposit Accounts and to Payment through Savings Account.