CHAPTER ONE

INTRODUCTION

1.1 Presentation of the Company

Community Credit Company  (CCC) is a Micro Finance Institution by the  Banking Commission of the Central African States  (COBAC) decision number  D-2001/111 of 10th January 2001 and decision of the Ministry of Economy and Finance No 000334/MINEFI of 27th July 2001.

Community Credit Company  started operations in November 1998 as a Co-operative Society  and was later transferred into a Public Limited Company (PLC). Community Credit Company is rapidly growing with eighteen branches located in the business centers of  most towns in Cameroon.

It has customers based of over seventy five thousands clients composed of current and saving account holders. Community Credit Company handles salaries for both workers of the Public Service (civil servants) and the Private Sectors.

Community Credit Company (PLC) has as vision to provide Savings and  Credit Facilities as well sas well as other financial values to improve the  economic and  social wellbeing of customers. To provide quality financial  services and products, encourage regular savings, wise lending and prompt  payment.

To educate customers to enable the organisation to compete  favourably with other financial institutions. To provide quick and quality  products and services to customers competent staffs. To assist customers in  need of finance, in the form of loan for education, business and health,  household consumption at favourable interest rates.

Products and Services of Community Credit Company (CCC)

Saving Account

Customers are able to save money into their account at any time and there  is no stated amount to be saved. Money put into the savings account earn  interest at the end of the year and withdrawal is done at any time.

Current Account

This account goes operational for business men and salary earners.  Through this account, CCC PLC provides a forum for salary earners both  private and government to open account and receive salaries. Cheque booklets  is given to holders of the account

Term Deposit Account

This is when the  customers‟  money is kept in block for duration of time  and interest can be paid at maturity date.

Product Loans

Community Credit Company also offers product loans.  These loans are bas on customer‟s salary, type of business, current account and collateral  security (which must be landed) to the customers

Payment of Pension

It is the monthly payment made by the government or private companies  to their retired workers

Salary Account

It is operated solely by employers who create an account (usually a  deposit account) in which it is being debited monthly by the employer worth the sum of the employee’s salary. When the account is debited, it is then charge

with the responsibility of paying the beneficiaries, employees upon presentation

of a cheque receipt signed by the employer.

Organigram structure of Community Credit Company (PLC)

Organisational structure or organigram of an organisation shows the various departments of the organisation.

As far as an establishment like Community Credit Company is concern, it shows the various levels of autonomy that exist within the organization.

Explanation of the Organigram of Community Credit Company (PLC)

Community Credit Company (CCC) as a Micro Finance Institution by the Banking Commission of the Central African States (COBAC) decision number  D 2001/111 of 10th January 2001 and decision of the Ministry of Economy and Finance No 000334/MINEFI  of 27th July 2001, has various departments as seen below.

The Management Department

This is the highest department on its own. He or she is the highest  authority at the level of the branch. The general manager is represented by the  branch manager to achieve the goals of the institution. He or she has the  following functions.

• -He does short, medium and long term planning. In addition, he also controls, directs, organize and leads other staffs in the bank.
• -He manages the workers, ensuring that they all perform their task in conformity with what is required of them.
• -He equally verifies all requisitions for expenses and ensures that it is in line with the budget for the period. He comments and forwards it to the head office  for approval.
• -He attends annual general meetings and also controls branch office work.

The Operation Department (Chief Teller)

The operation also called the Front Office Manager, because he is responsible for all front office  activities and  transactions in the organisation of Community Credit Company (CCC PLC), Kumba. He performs the following functions.

• -Cheque clearing
• -Managing daily treasuring
• -Cash transferred
• -Posting of standing orders
• -Posting term and time deposit
• -Approved Loans
• Accountant Department

The accountant represents the internal control in each branch of  Community Credit Company, PLC. The accountant ensures strict follow up of bank-transactions. He ensures correction and control reports are made daily, monthly and yearly as well. The accountant also sees into it that CCC (PLC) procedures are well respected at any level.

Teller Department

This department is in charge with cash transfers and receives cash from borrowers who have come to pay their loans. They issue receipts for all cash transactions to the customer‟s pass book.

Customer Service Department

The Customer Service department is  a  center were all  customers‟ problems are being treated. It is also considered as one of the most important department in Community Credit Company CCC, PLC. This is because this department is the main part of the front office and therefore act as the mirror of the micro finance.

1.2 Description of the Department of Focus Area

Customer Service Department

The customer Service Department is one of the most active  departments in Community Credit Company because it is the main part of the Front  Office and  therefore  acts  as the mirror of the micro finance.

Welcoming customers, entertaining and enquiring customers  thereby finding  and giving out relevant information to customers. The customer service  always ensures that all customers‟  complaints are well treated  in order  to  maintain a cordial relationship with all the customers and retain them at the bank.

In this department, before a customer wants to withdraw, transfer cash, deposit, he must pass through this department. The customer service department also performs the function of opening an account to the customer.

That is the customer is  enlightened  on the type of account being practise in Community Credit Company (CCC) Kumba. This includes current deposit, savings, salary account and the document include photocopy of National Identity card, pass port size photograph and other documents depending on the type of account.

When all these requirements has been brought by the customer, the customer service makes sure that they are rightly filled before opening an account for  any customer. For customers who wish to close their accounts, the customer service will ask them to bring a hand written application for account closure and debit the customer’s account with the balance after deducting charges from the customer’s account.

Account Modification is  done in this department. That is the customer  service receives a request for modification of account from the customer and forwards  it to the manager for approval and check if the modification has been properly done.

This department prints customer account history. That is if the customer needs all the information from his account, the customer service will print the account statement and give to the customer. Moreover, responsible for incoming and outgoing  mails.

Incoming mails (documents) are mails coming into the organization while outgoing mails are mails going out from the organization Blocking of Account  is all done by the customer service. Here, a request is receive from the account blockage and forwarded to the branch manager  for verification and authorization.

1.3 Objective of Internship

Objectives are tools put in place to see that an organisation attains it set  aims and goals. These objectives comprise main and specific objectives. The main objective of my internship was to  match Theoretical knowledge with professional knowledge or field knowledge. Upon arrival, the intern established certain specific objectives as seen below:

• -To identify various challenges encountered in the Customer Service Department at Community Credit Company (PLC), Kumba branch
• -To provide appropriate solutions to the identified challenges witness at Community Credit Company (PLC), Kumba branch
• -To acquaint oneself with the working environment