EXECUTIVE SUMMARY

This report indicates and brings out the exercise I performed at MmeCCUL. This internship gave me the opportunity to put into practice the theoretical knowledge acquired during my two years of studies in the University of Buea. However, the purpose of this report is to put in writing, the practical working experiences performed and the lessons learnt from performing these specific tasks in a professional working environment.

Chapter one of this report describes the background to the study, that is, the definition of internship, it is followed by the features of an internship. We are also made to understand the objectives of an internship and finally how important it is to the intern, the employer and the school.

The next chapter gives an insight of the organization in which the internship program was carried out. It explains detailly, the history of the organization, its objectives or goals and finally the structure of the union.

The next chapter can be considered as the core of the internship report and it is divided into 2 parts namely: the detailed description of the various operations performed by the departments in the union and the detailed description of the task/project performed by the intern.

Furthermore, the next chapter critically analysis the strengths, weaknesses, threats and opportunities of the union. It also explains the relationship which exist between the theory and practice.

Finally, the last chapter talks on the conclusion (description of the organization according to the intern’s evaluation or assessment in light of critical and SWOT analysis. It also suggests solutions for all problems or discrepancies pointed out in the critical and SWOT analysis found in the organization.

CHAPTER ONE

INTRODUCTION

1.1       What is Internship?

Internship is a program whereby, students of Universities and other Professional Institutions are allowed to take training in a company or any institution related to their area of study, for a specified period of time, so that they can become familiar with the working structure of the institution. Internship involves three parties; the student, the host organization and the university. The student gains practical experience, the host organization cheap labor and the university evaluates the student based on the host supervisor’s evaluation and the student’s report.

The student’s performance during this training is assessed and considered as a partial fulfillment of the requirements for an award in the degree in the field of study. The training lasted for one month, that is, from 4th of July to 4th of August 2023.

1.2. Objectives of Internship.

1.2.1 Main Objectives;

The main objective of this internship is to gain practical experience in the field of study. This is to say that we are given the opportunity to better understand what was taught in the various courses related to functions of the Institution.

1.2.2 Specific objectives

• Specifically, it helps us to know how Micro Finance Institution functions, helps us to compare what was taught in class with that of the field and also compare oneself to future job market. To improve skills that will help people in the future to find jobs.
• To enhance students’ skills and knowledge of a field of study. To expose students to professional role model or mentors who will provide the student with knowledge and behaviors that are expected in a work place.

1.3.  Importance or significance of an Internship.

An internship is a very important exercise as it enables the intern to;

• Gain relevant working experience and gain marketability. Having an internship gives you experience over other candidates when applying for jobs, it also prepares them for what to expect in the field and increase confidence in their work.
• Get active coaching from a designed mentor. Since in the field you required to work with various staff. Some of them to coach you and stand as mentors to you who you will always want to be like.
• Have regular performance evaluation. It is important in that it can help a student obtain positive recommendation that can be use for future employers, collage admission and scholarship application.
• Improve his/her prospect’s full time.
• Develop new talent. It helps you learn all about work place culture, employee relationship, and leadership structure which should help them on board in their first professional experience.

THE EMPLOYER/ORGANISATION.

• Frees up professional staffs to pursue more creative projects.
• Brings new and innovative ideas to an employer.
• Presents an excellent way to find new, energetic, and skilled employees who brings latest industry knowledge fresh from lectures and other campus resources.
• Saves money since an intern receives little or no benefits than a full employee.
• Allows the employer the opportunity to have an impact on molding the lives of students.

TO THE UNIVERSITY.

• It provides learning experiences that are more valuable than case studies and lecture notes.
• It validates the university’s curriculum in a working environment.
• Improves post-graduation statistics for the university.
• Develops more competitive and employable graduates.

CHAPTER TWO

BACKROUND INFORMATION.

2.1 BRIEF HISTORY OF THE ORGANIZATION.

MmeCCUL with board members (Coop-BOD) is a saving and lending credit union that started in 1969 with 10 members and registered in 1971 code 19659 of 11/01/2001. Minefi No 00395 NW/10 28/03/078. Opening time 8:00 am – 3:30 pm from Monday to Friday, Saturday, the union opens at 8:00 am and closes at 12:00pm. Head office is located at Bafmeng new town in Menchum division.

Some of its branches are located at Kumba, Douala, Bamenda, Yaoundé etc. The mission statement of the union is: Helping members to Help themselves. Its Motto is Save regularly, borrow wisely and Repay promptly. The following are services and products offered in MmeCCUL: Overdraft Facilitating, Njangi financing, Agricultural loan, School fee loan, Project financing, Long term loans, MTN and Orange mobile money, Local money transfer and Benskin scheme.

Requirements for one to become a member at MmeCCUL.

Just like any financial institution, being a member expects some conditions to be followed. The following are requirements for one to become a member at MmeCCUL:

• Must be a shareholder by paying a fee of 25000frs. This amount is apportioned as follows: 40% goes to CAMCCUL (Cameroon Cooperative Credit Union League) solidarity fund, Building fee of 5000frs, Company T-Shirts – 3500frs, cheque booklet (25 pages – 3000frs, 50 pages – 5000frs).
• Photocopy of ID card.
• Two passport size photographs.
• Birth certificate.

2.2. GOALS/OBJECTIVES OF THE ORGANIZATION.

The credit union shall not be for profit making. In addition to statutory provisions, its objectives shall be:

• To encourage its members to make regular savings by providing them with the possibilities of investing their money.
• To provide members with loans for purposes of providence or production or both.
• To foster the economic and social interest of its members.
• To ensure the progress of its members by educating them continuously on the proper use of money
• To offer to the members, complementary savings, such as risk management, checking system, education and training, money transfer, salary payments and any other services that do not conflict with the objectives of this credit union.
• To provide other credit union services, such as risk management, checking system, education and training, money transfer, salary payments and any other services that do not conflict with the objectives of this credit union.

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