Becoming a CamCCUL affiliate.
Membership is limited to registered Microfinances Institutions (MFI) that are organized and doing business in Cameroon in accordance with the provisions of laws governing the sector.
The following procedure should be followed:
- Any group in Cameroon that intends to become an MFI can do so by depositing all requirements to CamCCUL for onward transmission to MINFI for approval.
- The aforesaid application is presented to the next meeting of the Board of Directors for a decision.
- Admission decision is by a simple majority vote of the Board of Directors, which shall be provisional, subject to the approval of the General Assembly. Any cooperative Credit Union which is refused membership in the League has the right to appeal to the next general meeting whose decision shall be final.
- An entrance fee plus the required share per member as fixed by the General Meeting is paid by every member on admission.
- The admitted affiliate is requested to open a League fixed deposit account into which a 20% deposited of the shares/savings of its members is lodged.
When an MFI or group has fulfilled these requirements its application is studied and may be given provisional admission by the BoD pending ratification by the AGM. It then becomes an affiliate of CamCCUL, and now enjoys the rights and obligations of a member.