CCC Bank Cameroon, History and Services
CCC Bank Cameroon, History and Services
History of CCC bank
The community credit company (CCC) plc. is a financial institution in category one (1) of a micro–financial institution status in Central Africa, particularly in Cameroon.
This is a microfinance institution accredited by the Banking Commission of the Central African States (COBAC) decision No D-2001/11 of 10th June 2001 and a decision of the Ministry of Economy and Finances No 00334/MINFI of the 27th July 2001.
CCC Plc opened its first branch in November 1998 in Batibo with about 40 members. Their operations started as a cooperative society and were later transformed into a public limited company (Plc).
It gradually grew to have two branches in the same year and now has a growing network consisting of fifteen (15) branches in five Regions in Cameroon including the Centre, North West, South West, Littoral, and west
Today CCC PLC has a customer base of over 75000 account holders composed of current and saving accounts. In addition, they handle salary transfers for workers of the public sector (civil servants) and the private sector.
Ambitious Community Credit Company (CCC) PLC, as per the agreement in the last assembly and ascertained in the board meeting; plans to move from microfinance to a full flesh bank.
The firm has a dynamic set of shareholders and an ever-expansion policy. This is evident in its continuous increase in status and financial, geographical as well as operational capacity. This has resulted in the strategic level at which the firm finds itself.
The funds derived from shareholders in this process have been pivotal to the massive growth and sustainability of the company even through a financial crisis.
Such is the most recent increase of capital by 200 million FCFA, for which the first quarter (1/4) of 50 million was successfully realized in 2013
Read More: Full List Of International Banks In Cameroon
Products and Services of CCC PLC
Their products are tailored to respond to the ever-increasing and diverse needs of customers. Thanks to their heavy investments in up-to-date modern technologies
A) CURRENT ACCOUNTS
This account is meant for individuals, companies, businessmen, enterprises, organizations, and NGOs.
It is very convenient for all sorts of business transactions as it facilitates invoice discounting and overdrafts and other leading facilities at very encouraging interest rates.
Thus these accounts include:
- Civil servant salary account
- Company worker’s salary accounts
- Business accounts
- NGOs and associations
Requirements for current account opening (individual/salary)
- Two (2) color passport-size photographs
- Photocopy of national identity card
- Recent pay slip
- Letter of non-indebtedness (individual from other financial institutions)
- Attestation of effective service (civil servants)
- Attestation of accounts (company workers)
Requirements for account opening (Business/NGOs /Associations)
- Two (2) passport-size photographs for each of the account signatories
- Photocopy of ID card for each of the signatories
- Business License
- Article of association
- Minutes of the meeting that designated signatories to the accounts
- Site plan for the head office.
- A minimum initial deposit of 30.000FCFA
- Certificate of incorporation
B) SAVINGS ACCOUNTS
This account serves as a reserve for rainy days and secures your finances for future projects. Deposits and withdrawals can be affected by this account at your convenience. Interest on this account is calculated twice a year at a very encouraging rate.
- Four (4) passport-size photographs
- Photocopy of national ID card
- A minimum initial deposit of 25.000FCFA
C) TERM/FIXED DEPOSITS
This is a fixed deposit scheme where interest is calculated based on the amount deposited. A certificate is issued upon subscription.
Interest is either paid at the subscription or the end of the contract duration. The minimum amount is 2000000 FCFA, Minimum period is one (1)
Benefits Of This Account
- Exceptionally high-interest rates
- No savings required
- Serves as security for obtaining a loan, overdraft, or a line of credit
- Can be converted into shares or debentures upon request.
- Security of money is guaranteed
D) CREDIT FACILITIES
- Salary advances
- School fees loans
- Business loans
- Building loans
- Agricultural loans
- Financing of public contracts
- Discounting bills/cheques etc
E) OTHER SERVICES OF CCC PLC
- local transfers (within and without accounts)
- International transfers via Western Union, Money Gram, E- express.
- Purchase and sale of foreign currencies
- SMS alert(update of transactions on your phone)
- Debit and Credit card facilities
- Financial assistance to small and medium-scale enterprises