EXERCUTIVE SUMMARY

This report entitles in details all the activities carried out at the internship training period of 1month 2weeks from 10th July to 24th August 2022 at the Bafut cooperative credit union.

The following are the various activities done.

Chapter 1 contains the background of the study, definition of internship, characteristics and limitations of internship.

Chapter 2 contains the brief history of BafCCUL, the achievement of the organization, the various functions performed by the various departments.

Chapter 3 gives detail description of the various activities performed by the different departments of TTCCUL which are the accounting department which covers daily bank activities, the cash department talking of end of day cash control, the loan department which embodies loan monitory, loan application and requirements.

Chapter 4 covers the SWOT analysis of BafCCUL.

Chapter 5 talks of conclusion and recommendation.

CHAPTER ONE

INTRODUCTION

1.1 Background of the study

The field of microfinance has been of growing importance for the past decades. The reason may account to the fact that MFI’s greatly contribute to poverty alleviation, through the provision of financial and non-financial services to those at and below the poverty line, as well as to SME. As such, in order to fulfill the requirements of my 3 years Bachelor program, I’ve conducted a one-month internship program at the BafCCUL, which is a category two microfinance institution. I suppose the findings of this report, will provide invaluable input for further improvement in the performance of the BafCCUL.

 1.2 What then is an Internship program?

An internship is a period of work experience offered by an employer to give students and graduates exposure to the working environment, often within a specific industry, which relates to their field of study. Internships can be as short as one week or as long as 12 months.

1.3 Characteristics of internship

For an internship program to be considered successful, there should be support for the program throughout the organization and a consistent, positive message throughout the intern’s experience. Following are details about the characteristics of internship:

» It contributes to the student’s personal and professional development through challenging and work assignments.

» It must be completed before the student graduates from the university.

» It has to be planned and controlled through consultation with the department or

university so as to fit in undergraduate experience.

» It involves a supervision component that is mentoring and educational.

» It includes carrier related experiences that complements what is learnt in the

classroom.

» A student should have a reflection and evaluation process at the conclusion of the internship.

» It builds upon the relationship the university/department has with the employers.

» Internship is most successful when the student, university and employer all share the responsibility of making it a valuable experience.

1.4 Objectives of Internship

The objectives of an internship can be classified into Primary and Secondary objectives.

» The primary objective of an internship is to get familiar with the working environment of the institution and also fulfil the requirement of the school degree Program in a specific field.

» The secondary objectives were as follows;

⁃ To analyze and understand the entire activities of the institution.

⁃ To evaluate the existing activities and techniques of the institution.

⁃ To study the operational efficiency of the organization.

⁃ To suggest ways and means for improvement in policy and techniques.

⁃ To relate the theoretical learning with the real-life situation.

1.5 Significance of internship

Internship programs are very useful both to the student, the employer and the University as well.

1.5.1 Significance to the student

⁃ Internships gives the opportunity to “test drive” a career that is to identify a particular

area of specialization which the intern thinks will be appropriate for him.

⁃ It also helps in establishing a long a lasting relationship with mentors, which can be

useful in the futures while seeking for a job.

⁃ It introduces the student to the field cultures and etiquette (for example, are clients

addressed by their first names? are jeans appropriate for casual Fridays?).

⁃ It helps in getting a “real world” perspective of an occupation.

⁃ It helps in accumulating new skills.

1.5.2 Significance to the employer

Employers do not create internships just to be nice with certain students and others interested in a certain career. While an interview or a company test can add to what an employer knows about a person, an internship helps an employer evaluate how an individual would fare in the actual workplace. Companies that devote time and

resources to finding, selecting and training interns are looking for a return on their

investment. The benefits might be in the present or in the future.

1.5.3 Significance to the university

The university constitute a pool for potential labour force in an economy, through its undergraduate students. However, the degree of competitiveness in the labour market greatly depends on the experience gained by each job seeker.

By providing internship programs, the university ensures that the students once they have graduated are efficient and competitive in the labour market. This polishes the image of the school and strengthens the relationship between the university and the

employers.

1.6 Limitations of internship

» Pecuniary Aspect: Most internship programs offered by the university are unpaid. This becomes a real issue especially when considering the role played by financial motivation in the performance of workers.

» Placement: It is often difficult for an intern to get along with the activities taking place in specific departments. This may principally be due to the difference inherent between the theoretical and the practical part of a given task. As such, it is not obvious for the employer to place the student at a particular department, only because of his area of specialization at school.

» Confidentiality: This aspect is of utmost importance. This issue may arise when due to the internal policy of the organization, the mentors and others employers are not allowed to disclose certain information to interns. This may be considered a hindrance since one the objectives of an internship is to understand the functioning and different processes of the institution, and this cannot be fully achieved without a clear disclosure to interns, since they are considered during the internship period, to be employees.

» Ignorance: This aspect is not only due to the inaccessibility of information by the intern as in the confidentiality aspect above, but the issue may come from the intern himself. This is because the corporate environment is a complete different place from the school environment and as such, there may certainly be more than a point on which the intern will be completely ignorant.

CHAPTER TWO

OVERVIEW OF THE ORGANISATION

2.1 Brief history of the organization

The Bafut Cooperative credit union started in 1964, by a Catholic missionary. The late Rev. Father John Colkman with his Christians. This took the form of Christian family discussion group on doctrine days, with the view of improving living conditions of unmarried girls who had no jobs or any income generating activity. This group founded by the Rev. Father was called St. Christopher Credit Union.

Almost simultaneously, one late Mr. Nforbekoh pius, a catholic teacher also read about credit unionism from an American magazine and the success it was registering in that part of the world. Inspired by this, he also gathered his neighbors and shared the view with them. This was welcomed and so, put to test and another group known as the Bawum Credit Union was formed.

This group of Mr Nforbekoh was dominated by men while the group founded by the Rev. Was dominated by women. In 1965, this two bodies wrote separate applications to the registrar of Cooperatives in Buea.

In 1966, this two bodies linked up to form the Bafut Cooperative credit union. By 1973, construction started in the mission premises. By 1975, the structure was finally put in place and the mission of the cooperation was outlined. This union was registered in 1973 and since then, it has been witnessing a steady growth. As at 31/12/1998 the situation of the union stood as follows:

Membership: 1497

Share/savings: 152,119,416

Outstanding loan: 65,077,395

Presently, Bafuccul has grown in lips and bound. It now has branches in Bafut, Bamenda, Buea, Yaoundé, Douala, Njimuyah, Mbakong, Kumba, Nosh, and Ndop.

Total membership now stands at 8000. Presently, BafCCUL is affiliated to RAINBOW.CAM. Registered COBAC decision no/2001/2005. BafCCUL Has the following objectives:

• To render quality financial services to its members
• To develop the Bafut community and the people of Bafut
• To solve financial difficulties faced by its members
• To manage the organization so that it grows financially

Check Out: Internship Project Topics with Materials