Akwaya Credit Union raises stakes

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August 26, 2026 1:19 pm

At pioneer AGM:

Calls for bigger member investment

Board Chairman Dr. Etta Agbor Hans says stronger share capital will unlock greater financial opportunities for members

By Ikome Christie-Noella Eposi in Buea

The Akwaya Credit Union Cooperative Society is seeking a stronger financial commitment from its members as it moves to consolidate its capital base, expand its operations and create greater opportunities for shareholders.

The call for increased member investment was made during the cooperative’s first-ever Annual General Assembly for the 2025 financial year, held on Saturday, August 22, 2026 at the Eco-Tourism Hall in Buea. The gathering brought together members from Buea, Limbe, Mamfe, Douala, Eseka and other parts of the country to review the institution’s performance, deliberate on its future and take decisions aimed at strengthening the cooperative.

At the heart of the assembly was a major decision to increase the minimum ordinary shareholding requirement from 10 to 50 shares. With each share valued at 1,000 FCFA, members are now expected to hold shares worth at least 50,000 FCFA.

Members who have not yet attained the new threshold have been given one year to complete their contributions. The cooperative has also made provision for members to meet the requirement through instalment payments, easing the immediate financial burden while ensuring that the new policy is progressively implemented.

Board Chairman Dr. Etta Agbor Hans said the decision was motivated by the fundamental principle that a credit union derives its capital largely from the shares held by its members.

According to him, members reflected on the need to increase their ownership stake in order to provide the institution with the financial strength required to grow. “The members reflected on the fact that the capital of the credit union is based on the shares held by members. They therefore suggested increasing the minimum number of ordinary shares from 10 to 50,” Dr. Hans explained.

He stressed that the objective is not simply to impose a higher financial obligation on members, but to build a stronger institution capable of serving them better. “The objective is to increase the share capital of the credit union so that more funds can be made available to support its business activities and operations,” he said.

For members, one of the most immediate potential benefits of a stronger capital base is improved access to financial services, particularly loans. Dr. Hans noted that additional capital would create room for more people to join the institution and access loans to address their financial needs. “When there is more money as capital for the credit union, it gives a great opportunity for many more persons to come in as members to get loans,” he said.

Beyond lending opportunities, the Board Chairman believes increased shareholding can also deepen members’ sense of ownership and responsibility towards the institution. Members with a substantial financial stake, he argued, are more likely to take a keen interest in the management and performance of the credit union. “The people who have paid more shares have a very serious stake as far as the credit union is concerned, and they want to follow up the activities of the credit union closely to make sure that where they have put their money, it is judiciously managed,” Dr. Hans stated.

The Registrar of Cooperatives for the South West Region, Mr. Fred, equally endorsed the move, reminding members that they are not merely customers of a credit union but its owners. “A credit union is a bank owned by you, the members. Therefore, ensure that you invest substantially so that you become a bona fide shareholder,” he told the assembly.

The Registrar further urged members to change their perception of participation in the cooperative by looking beyond savings. While acknowledging the importance of savings, he emphasised that shareholding is central to the ownership and financial strength of a cooperative. “Focus not only on savings but also on shares, because having more shares can strengthen your position as a member and make it easier to access loans when you need them to address your financial needs,” he said.

He maintained that the sustainability of every cooperative is closely tied to the capital provided by its members, urging Akwaya Credit Union members not to stop at the minimum requirement but to continue increasing their shares. “Membership in a credit union is based on shares, not simply on savings. So, don't just stop at owning one share. Increase your shares and strengthen your stake in the credit union,” he added.

Meanwhile, the management of Akwaya Credit Union expressed optimism about the institution’s prospects, describing the performance figures presented during the assembly as encouraging.

Manager Ebechem Peter said the figures reflected the progress made by the cooperative and gave management confidence about the year ahead. “If you followed the deliberations during the Annual General Assembly, you would have noticed that the figures presented were commendable. The figures speak for themselves,” Ebechem said.

He added that management was confident of building on the achievements already recorded. “We are confident that next year, based on where we are today, we are going to make even more progress,” he stated.

Ebechem also pointed to the need for Akwaya Credit Union to preserve the founding principles of the credit union movement while adapting to developments in the modern financial sector. “What we are trying to do is go back to the principles of credit unionism while blending them with contemporary developments in the banking and financial sector,” he explained.

With more than 200 members and a presence in communities across the country, the cooperative is now counting on stronger participation from its membership to consolidate its growth. The new 50,000 FCFA minimum shareholding requirement represents a significant shift in the relationship between members and the institution, placing greater emphasis on ownership rather than simply saving.

As members are given a year to meet the new threshold, including through instalment payments, the leadership of Akwaya Credit Union is projecting a future built around increased capital, stronger member participation and expanded financial opportunities.

The message emerging from the historic assembly is clear: Akwaya Credit Union’s members are not simply users of its services; they are its owners. And the strength, growth and capacity of the institution will depend significantly on the extent to which those owners are prepared to invest in it.