The president of the Limbe Urban Council Cooperative Credit Union Limited, LUCCCUL, Esombe Lingate Samuel, has cautioned members of the credit union to watch out for dubious members, who come to the credit union only to take loans and disappear.

The president said this during the 20th Annual General Assembly AGM meeting, which took place in Limbe, on Friday, January 30.

Lingate Samuel reminded the co-operators that the union is some sort of investment for all of them, and so, if they know individuals with doubtful characters, they should not hesitate to inform the union.

“Some members have conceived dubious ideas to rob the union. Some present fictitious loan files and when the loan is granted, they take the money and “vanish” ”, he said. He continued saying, “Any member who attempts to dupe the union shall be dismissed by the board of directors immediately”.

He thus called on members to be serious and remain vigilant on this issue, “Don’t keep any information about a friend who wants to do so, tell us, we are not going to disclose your name”.

The burglary that took place in the head office of the credit union on May 16 last year was a main issue during the assembly, as the union lost close to three million FCFA in the incident, and some computers and laptops, resulting to the loss of data.

However, the president announced that the matter is being thrashed at the necessary quarters, and better measures have been put in place to prevent such incident in the future.

Also, another major focus of discussion was the acquisition of the meeting regalia, which Lingate Samuel expressed disappointment in the way some members are reacting to it.

However, this was met with some stiff opposition, as some members insisted that the quality of the cloth was not the best. Nonetheless, it was concluded that every member has to go for it, as a matter of obligation.

Other highlights included the presentation of reports, accounts, audit report and the 2015 budget. Also, there was the election of a third member into the supervisory committee, Susan Nanyongo.

Members were also enlightened on innovations in the law, especially on the two classes of shares.

LUCCCUL president maintained that members must complete their ordinary shares of FCFA 50,000 to be eligible to participate in elections, and advised that they should renew their membership forms and avoid leaving their passbooks at the credit union office.

The story for LUCCCUL, it was observed, is good so far, as their membership increased from 985 to 1102, indicating a 12% increase.