CHAPTER ONE

INTRODUCTON

1.1 Background of internship

The modern workforce demands professionals with seamless blend of theoretical
knowledge and practical experience . Internship have become an essential bridge
between the academic education and professional careers providing valuable
hands-on experience and skill development. The concept of internship has its roots
in the ancient Greece and Rome ,where apprenticeship was common in various
trades. This hands-on training allowed individual to learn skills and gain practical
experience under the guidance of experienced professionals. Over time internship
has transformed to accommodate changing workforce need and technological
advancement

In the Middle Ages, apprenticeship continued to be the primary means of skill

training. As industrialisation took hold, vocational training took place in the late 9 th
and early 20th centuries, focusing on practical skills for specific industries.
Following the world war l1 internship began to emerge in professional fields like
medicine , law and business. The 1960s to 1980s saw a significant expansion of
internship into the various sectors, including non- profit and government sectors.
However, this period also saw the rise of unpaid internship, sparking debates on
fairness and accessibility. In recent decades they have been a shift towards paid
internships, with increased emphasis on diversity ,equity ,and inclusion

Today’s internships play a vital role in enhancing employability and career

prospects. They provide hands-on experience , skill development and opportunities
for networking and professional connections. Internship also serve as a trial period
for the employer to access potentials hires. The modern internship landscape spans
various industries from tech to arts, and adapted I the changing needs of the
workforce. The internship landscape continues to evolve , with the key trends
emerging. Remote and virtual internship have become increasingly common, while
diversity, equity and inclusion remain the top priorities. There is also a growing
focus on integrating internships with academic curricula, developing soft skills,
and expanding opportunities for students with disabilities.

Internship has become crucial for bridging the skill gap between education and
employment, enhancing career readiness, building professional networks, driving
innovation and shaping future workforce talent. As the workforce continues to
evolve , the importance of internships will only continue to grow

1.1.1 Types of internships

-Academic internship which are typically part of a student program and are
structure of complete their curse work

-Paid internship which involves compensation to the intern for work and
contribution she makes to the organisation

-Unpaid internship where the intern is not compensated but is often offered
valuable learning experiences. Professional exposure and skill development.

-Virtual or Remote internship where the intern gains professional experience and
contribute to the organisation from any location with the internet connection

-Summer internship which provide students to gain experience during their

summer break from academic studies

-Other types of internships include part time internship, full time internship,
international internship, government internship and corporate internship
1.1.2 Characteristics of internship
 It should be planned and controlled by the school and approved by the
institution or industry
 It should contribute to the student’s personal and professional development
 The intern most have good communication skills ,and also, he/she should be
determined
 It should include theoretical so as to carry out the practical part

1.1.3 Justification of the internship

Internship are more than just a temporal work experience. They offer a unique
blend of practical learning, professional development and career exploitation,
making them an essential step in my academic journey. Here is a compelling
justification for understanding the importance of internship

i. Bridging the gap between theory and practice

-Real world application of skills; internship allows you to apply the knowledge you
have gained from classroom to real-world scenarios. You will learn how the
theoretical understanding translate to practical tasks and projects
-Developing valuable skills; internship exposes you to various skills like problem-
solving, communication, teamwork, and time management, all crucial for the
future success
-Building your portfolio; internship projects and experience add tangible evidence
of your abilities and accomplishments, enhancing your cv and making you a more
attractive candidate
ii. Career exploration and networking
-Discovering your passions; you can test different careers paths and gain first-hand
experience in various industries, helping you refine your career goals
-Building your professional network; you will meet industries professionals,
mentors, and potential future colleagues, expanding your professional network and
opening doors for future opportunities

Gaining valuable industry insights; you will learn about industry trends,
challenges, and practices giving you a competitive edge in the job market

iii. Enhancing Employability and Future Success

-Boosting your confidence; internship build confidences in your skills and abilities,
preparing you to handle professional challenges with greater ease

-Increasing your job prospects; employers value internship as proof of real-world

experience and commitment, making you a more competitive candidates for the
future jobs

-Preparing you for future; internship provide the foundation for a successful career,
equipping you with the skills and knowledge necessary to excel in your chosen
field

In essence, internships are an investment in your future. They provide you with
practical experience, professional development, and valuable connections,
significantly increasing your employability and setting on a path of fulfilling career

1.2 Aims and objectives of internship

Different people carry out internship for different reasons. The objectives of this
internship are divided into two that is general and specific objectives
1.2.1 General Objectives
a) Gain practical skills
Internship provide an opportunity to apply theoretical knowledge into real-
world situations and developed practical skills relevant to the chosen field of
industry.
This can include skills such as problem-solving, decision-making,
communication, teamwork and time management
b.) Industry experience
Internship offers a chance to gain first-hand experience in a specific industry or
sector. This experience helps the intern to understand the dynamics, challenges
and opportunities within the industry, making them informed and prepared for
future career endeavours
c.) Networking
Internship provide an opportunity to build professional network and establish
connections with the professionals in the field. These connections can be
valuable for the future job prospects, mentorship, guidance , and obtaining
references or connections
d.) Professional development
Internship contribute to the personal and professional growth of an individual.
Interns learn to adopt to a professional work environment, enhance their self-
confidence, and improve their problem- solving abilities. They also develop a
sense of responsibility and work ethic value while gaining insights into their
strength and area of improvement.
e.) Career exploration and clarification
Internships allows individuals to explore different career options within their
field of interest. By working in different role o departments, interns can gain a
better understanding of their preference and area of their future career. This can
help in making informed decisions and their career trajectory.
f.) Resume building
Internship provide the opportunity to gain relevant work experience, which
enhance the attractiveness of an individual’s resume. This practical experience
demonstrates to potential employers that an individual has apply their
knowledge in a professional setting and can contribute effectively to their
organisation.
g.) Learning organisational culture
Interns get an insider view of the organisational culture and values, which
can be crucial in the aligning their career goals and values with the
organisational missions. understanding the work environment and the
organisation’s expectations can contribute to success within an organisation

1.2.2 Specific objectives

The objectives of this internship as an undergraduate student in partial fulfilment
of my BBA in Accounting are as follows;

 First, to be able to apply the knowledge acquired in school in real situation.

That is be able to practice what I have studied
 Also, to be able to gain skills and experience that is necessary to prepare me as
an Accounting student for a successful career in Accounting
 Another one is to be able to provide financial analysis and tax return of the
organisation
 More so, to be able to be able to identify the most important problem in the
organisation and bring out successful solution to such a problem. For example,
to be able to identify what drains a company resource and bring solution to
such a problem
 Moreover, to be able to examine analysis and prepare financial report and
statement for the individual clients or organisation. That is provide advice on
financial related to cost and expenses
 To be able to prepare invoices, ledger, trial balance, bank reconciliation
statement, cashflow statement, income statement and balance sheet using the
various accounting software like advance MICROSOFT EXCEL, LE SAGE
CV6, query languages and time keeping software
 To be able to developed expertise knowledge in financial analysis, budgeting
and financial reporting
 To be able to enhance my problem-solving and critical thinking skills

1.3 Definition of terms

Internship; A structured period hands-on work experience within an organisation,
allowing students to bridge the gap between theoretical knowledge and practical
skill development e.g., the Consultative Group to Assist the Poor (CGAP)reports
microfinance impacted138 million lives in 2020

Microfinance Institution(MFI); An organisation, either formal or informal,

dedicated to offering microfinance services and targeting underserved population.
(e.g. Kiva, a peer-to- peer (P2P) lending platform ,connects lenders with
micro-entrepreneurs globally) .

Credit Union; A member-owned cooperative offering services like saving

account, loans, and financial education to members. These cooperatives are
democratically controlled by their members, emphasizing a community-oriented
approach to finance. (e.g. The World Council of Credit Union reports over 850
million credit unions members worldwide).
Delinquency; The failure to make loan payment on time, exceeding a
predetermined grace period, and indicating potential credit risk of the lender (e.g.
The International Monetary Fund(IMF) estimated a global non-performing loan of
4.7% in 2022)

Passbook; A physical record of bank transactions , where updates are made

manually by the bank teller. Its usage has declined significantly with the
advancement of digital banking technologies (e.g., passbook usage declined by
85% in the US from 2000 to 2019)

Account; A record of financial transaction between two parties ,tracking debits

(money out)and credits (money in), used for various purpose like saving, or
investment. (e.g., Global account ownership reaches 69% in 2021,according to
World Bank data)

Accounting; The systematic recording, classifying , and analysing of financial

transactions to provide relevant information for informed decision-making by
various stakeholders.(e.g., Accounting Standards like International Financial
Reporting Standards (IFRS) ensures transparency and reliability in financial
reporting).

Bank Reconciliation; The process of comparing bank statement with accounting

records to identify and resolve discrepancies, ensuring data accuracy and financial
control , ultimately minimizing risk and potential errors. (e.g., Regular bank
reconciliation reduces fraud risk by 40%, to the BDO survey ).

Depreciation; The allocation of cost of an asset over its useful life, recognizing its
decreasing value and impacting income statement by reducing reported income or
profit. (e.g., Depreciating building minimizes overstating company assets and
skewing financial performance).
Njangi; A traditional West African rotating saving and credit system, promoting
financial support and social solidarity within a community. Members contribute to
a shared pool, and each takes turns receiving a lump sum from the collective
savings .(e.g., Research shows Njangi empower women financially and strengthens
networks).
CHAPTER TWO

PRESENTATION OF THE ORGANISATION

2.1 History of the Organization

According to the archives of T-CCUL (2008), T-CCUL emerged from a small
Njangi group called TAANIN Lamnso native in English meaning meeting. This
idea was conceived by thirty (30) members of the group as at the 14 th of July 2007.
During this same month on the 20th, the conceived idea was then brought into light
in a constituent meeting held in Bayelle.
This meeting led to the creation of a nine-man board of directors. T-CCUL was
then created as a category one microfinance institution affiliated to CAMCULL
referenced tax number 01/02/CEMAC/UMAC/COBAC.D.2017/308 OF
24/10/2017LICENSED no: 00305/MINEFI of 05/04/2018 MINADER Reg No:
NW/COOPCA/20/07/11353. Tax payer no: M100700038995Cfurthermore, on the
15th of April 2008, T-CCUL established its first office in ANCO BUILDING at
mile two Nkwen Bamenda of which two months after, on the 7 th June 2008, T-
CCUL was officially launched at the Cameroon Baptist convention center Nkwen.
During the year 2009, due to the road construction that was ongoing at that time,
T-CCUL was transferred to S-Bend mile three Nkwen in the month of February.
Two months after the relocation, T-CCUL held her first annual general assembly
(AGM)meeting on the 20th April 2009 at Bayelle with an overall total membership
as at that time being 345 members having a total sum of 33700000FCFA as share
savings. As years pass by, T-CCUL membership has been greatly increased with a
total membership of more than 5000 members as at present with over eight(8)
branches though out the national territory namely Head office at Foncha street
Bamenda, Fons street branch office at Ntarinkon Bamenda, Ndop branch office in
long street opposite the stadium, kumbo branch office in squares opposite total
petrol station(the doors of this branch in kumbo are not opened due to the intense
political crises but non the less, the branch is remotely controlled at the head
office), Foumbot branch office located at CAMOOCO petrol station. Douala
branch office at ancient route Bonaberi, Yaoundé branch in the outskirts at Ngoro.
T-CUUL has also won awards from media houses like the fastest growing
microfinance institution in 2022 and the best policy maker in 2023 from the scoop
newspaper and many more. T-CCUL Hopes for better days as they operate under
the psycho business motive of “save regularly, borrow wisely, repay promptly” as
its motto. (source: TICCUL archives)

2.2 Mission and vision of T-CCUL

2.3.1 Mission of T-CCUL

Tikar cooperative credit union limited has six missions which are;

-To promote thrift/loan habits and other affordable financial services.

-To provide quick and satisfactory services.

-To promote values of equality, equity and good governance

-Pay reasonable interest rate on members savings

-Provide competitive financial services and products.

-To alleviate poverty and enable members to live a sound and health lives.

2.3 Products/Services offered by the organization

T-CCUL offer a wide range of financial products and services designed to meet the
needs of their members. Below are the products and services offer by T-CCUL
2.3.1 Products of T-CCUL
a. Share.

The union issues 10 shares of 10000 per share which qualifies you as a member
and give you the right to participate in the decision making and benefits from the
union’s services. These shares generate interest when the due and are withdrawn
when a member decides to leave the union.

b. Saving Account.

This account constitutes a members investment account and guarantees the

granting of loans to members, it also determines your ability and amount of loan
and it’s further covered by a life assurance scheme. This account also generate
interest when due.

c. Deposit Account.

This account constitutes a members current account and provides money at short
notice. The deposit account does not yield any interest and therefore, no notice of
withdrawal is needed. This account is recommended for Njangi groups

d. Loan Account.

A member becomes an owner of this account when he or she obtains a loan. The
loan could be within savings or above savings, for loans above savings, an
immovable collateral security is needed or guarantors. In this case, minors cannot
be guarantor’s surety.

e. Minors Account.

This account is established by parents for children under the age of 18years. It aids
to salvage children’s future conditions like education , health care etc. withdrawal
from this account is free and without prior of at least five days before the
withdrawal of large amounts.

f. Group Account.

This account is legalized for groups like meetings, Njangi, association, NGOs,
churches etc. It allows the safe keeping of group’s fund and wards off the
possibility of misappropriation of group funds by an individual. This account
generates interest and withdrawal is free of charge but however requires a prior
notice of at least five days before the withdrawal of large amounts.

g. Daily Collections.

This assures members saving at his or her work place without necessarily going to
the credit union, these transactions are only carried out through registered T-CCUL
agents. The members can however visit the office mostly to clarify his or her
transactions with the agents. The agents also assist potential members to open
account.

h. Njangi Financing.

This is to aid boost the activities of Njangi group with the special withdrawal
through cheques. The withdrawal from group account is duly signed by the group’s
executives(signatories).

i. Other Products

The cooperative also carries out payment of pension, gives out pension, give out
productive loans, school fees/anniversary loans, micro loans scheme, agricultural
financing, “buyam-sellam loans”.
2.3.2 Services offered
Beside the products, T-CCUL also sees to it that the following services are offered
to its members and potential members as the case may be.

 Payment of Salaries

T-CCUL pay salaries to civil servants and private enterprises. Members could
place standing orders on their salaries for loans repayment.

 MOMO Services

T-CCUL also offer mobile money services(Momo) to both their members and none
members. These services include both mobile telephone network and orange
money(OM) services.

 Others

T-CCUL also offers services such as western union, MoneyGram, Ria money
transfer, World Remit the withdrawal of money from any of these transfer agents
requires the receiver to present the sender’s name, sender’s country, reference
number, receiver’s name, receiver’s phone number, and a photocopy of the
national identity card. Senders are required to present the same information.

2.4 Organizational Structure

2.4.1 Organigram
The organigram here also known as the organizational chart of T-CCUL shows the
flow of power and authority, relationship and reporting lines amongst the different
teams, individual and departments in T-CCUL. The organigram is adopted by the
general assembly of shareholders. This organigram is as follows:
2.4.2 functions of the various departments
i. General Assembly

The General Assembly is the highest decision-making body of the cooperative,

composed of all members who meet periodically to discuss and make important
decisions about the cooperative's operations.

Functions of the general assembly

 Setting Policies: The General Assembly establishes the policies that guide
the cooperative's operations and governance.
 Electing Board Members: Members elect representatives to the Board of
Directors during the General Assembly meetings, ensuring democratic
leadership.
 Approving Budgets: The assembly reviews and approves the annual budget
proposed by the Board, ensuring that resources are allocated effectively.
 Reviewing Performance: Members evaluate the performance of the Board
and management, holding them accountable for the cooperative's success.
 Making Key Decisions: The General Assembly discusses and makes
decisions on significant issues, such as changes to the bylaws or major
initiatives.
ii. Board of Director

The Board of Directors is an elected group responsible for overseeing the

cooperative's overall strategy and direction, ensuring that it operates in the best
interests of its members.

Functions of the Board of directors of T-CCUL

 Setting Strategic Goals: The Board establishes long-term goals and
objectives to guide the cooperative’s growth and development.
 Overseeing Management: They supervise the General Manager and ensure
that the cooperative's operations align with established policies and
strategies.
 Financial Oversight: The Board reviews financial statements and ensures
proper financial management and accountability within the cooperative.
 Policy Development: They develop and implement policies that govern the
cooperative's operations, including lending and member services.
 Evaluating Performance: The Board assesses the performance of the
cooperative and its management, ensuring that goals are met and making
adjustments as needed.
iii. Supervisory Committee (S.C)

The Supervisory Committee is responsible for monitoring the activities of the

cooperative to ensure compliance with regulations and internal policies.

Functions of the S.C of T-CCUL

 Conducting Audits: The committee performs regular audits of financial

records and operations to ensure accuracy and compliance.
 Monitoring Compliance: They ensure that the cooperative adheres to legal
requirements and internal regulations.
 Reviewing Financial Reports: The committee evaluates financial
statements to identify discrepancies or issues that need addressing.
 Providing Recommendations: Based on their findings, they offer
recommendations for improving internal controls and processes.
 Reporting to the General Assembly: The Supervisory Committee reports
its findings and recommendations to the General Assembly, keeping
members informed.

iv. Women Committee

The Women Committee focuses on promoting the interests and empowerment of

female members within the cooperative.

Functions of the Women’s Committee in T-CCUL.

 Organizing Workshops: The committee organizes training sessions and

workshops to enhance financial literacy and entrepreneurship among women
members.
 Advocating for Women’s Rights: They advocate for policies and programs
that support the rights and interests of women in the cooperative.
 Building Networks: The committee fosters networking opportunities for
women members to share experiences and support each other.
 Supporting Women Entrepreneurs: They develop initiatives to support
women-owned businesses, providing access to resources and financing.
 Promoting Leadership: The Women Committee encourages women to take
on leadership roles within the cooperative and participate actively in
decision-making processes.
v. Youth Committee

The Youth Committee is dedicated to engaging and empowering younger members

of the cooperative.

Functions of the Youth Committee of T-CCUL

 Providing Financial Education: The committee organizes financial literacy
programs tailored for youth to help them understand personal finance and
cooperative principles.
 Promoting Youth Leadership: They encourage young members to take
leadership roles within the cooperative, fostering a sense of ownership and
responsibility.
 Organizing Community Service: The Youth Committee initiates
community service projects, encouraging young members to give back to
their communities.
 Supporting Entrepreneurship: They provide resources and mentorship for
young entrepreneurs, promoting business development among youth.
 Engaging Youth in Decision-Making: The committee ensures that young
members have a voice in cooperative decisions that affect them, promoting
their involvement in governance.
vi. Credit Committee

The Credit Committee evaluates loan applications and manages the cooperative's
lending activities.

Functions of the credit committee in T-CCUL

a. Evaluating Loan Applications: The committee reviews and assesses loan

applications to determine borrowers' creditworthiness and repayment
capacity.
b. Establishing Lending Policies: They develop policies governing loan
terms, interest rates, and approval criteria to ensure fair lending practices.
c. Monitoring Loan Portfolio: The committee tracks the performance of the
loan portfolio, identifying any potential risks or issues with repayments.
d. Implementing Risk Management: They develop strategies to mitigate risks
associated with lending, ensuring the cooperative's financial stability.
e. Reporting on Lending Activities: The Credit Committee prepares reports
on lending trends and performance, providing insights to the Board and
management.
vii. General Manager

The General Manager oversees the daily operations of the cooperative, ensuring
that it operates efficiently and effectively.

Functions of T-CCUL’S General manager

Implementing Policies: The General Manager puts into action the policies
established by the Board of Directors and ensures they are followed throughout the
cooperative.

 Managing Staff: They oversee staff recruitment, training, and performance

evaluation to ensure a competent workforce.
 Coordinating Operations: The General Manager coordinates the various
departments and ensures they work together towards common goals.
 Financial Management: They manage the cooperative's finances, ensuring
that budgets are adhered to and financial objectives are met.
 Reporting to the Board: The General Manager regularly updates the Board
of Directors on operational performance, challenges, and opportunities for
improvement.
viii. Branch Manager

The Branch Manager oversees the operations of a specific branch, ensuring that it
meets its goals and serves its members effectively.

Functions of the Branch Manager in T-CCUL

 Supervising Staff: The Branch Manager is responsible for managing branch
staff, including training, scheduling, and performance evaluations.
 Ensuring Customer Service: They ensure that members receive high-
quality service and support, addressing any issues or concerns that arise.
 Implementing Local Strategies: The Branch Manager develops and
implements strategies tailored to the local market to attract and retain
members.
 Managing Daily Operations: They oversee daily branch operations,
including cash management, member transactions, and compliance with
policies.
 Reporting Branch Performance: The Branch Manager reports the branch's
performance to the General Manager, highlighting successes and areas for
improvement.
ix. Accountant

The accountant is responsible for maintaining accurate financial records and

ensuring the cooperative's financial integrity.

Functions of T-CCUL’s Accountant

 Maintaining Financial Records: The Accountant ensures that all financial

transactions are recorded accurately and timely in the cooperative's
accounting system.
 Preparing Financial Statements: They prepare monthly and annual
financial statements, providing insights into the cooperative's financial
position.
 Managing Accounts Payable and Receivable: The Accountant oversees
incoming and outgoing payments, ensuring that obligations are met and
revenues are collected.
 Conducting Reconciliations: They perform bank reconciliations to ensure
that the cooperative’s records match bank statements.
x. Loan Officer

The Loan Officer processes and evaluates loan applications, providing guidance to
members seeking loans.

Functions of the loan officer in T-CCUL

 Assessing Loan Applications: The Loan Officer reviews applications,

ensuring all necessary documentation is provided and verifying applicants'
financial information.
 Advising Borrowers: They provide guidance to members on suitable loan
products, explaining terms and conditions and helping them understand their
obligations.
 Facilitating Loan Disbursement: Once approved, the Loan Officer
coordinates the disbursement of loans, ensuring that all procedures are
followed.
 Monitoring Loan Repayments: They track repayment schedules,
contacting borrowers who fall behind to offer support and develop
repayment plans.
 Reporting on Loan Activity: The Loan Officer prepares reports on loan
disbursements, delinquencies, and overall loan portfolio performance.
xi. Cashier

The Cashier handles daily financial transactions, ensuring accurate processing and
record-keeping.

Functions of the Cashier in T-CCUL

 Processing Transactions: The Cashier processes deposits, withdrawals, and
loan repayments, ensuring accuracy and efficiency in all transactions.
 Issuing Receipts: For every transaction, the Cashier generates receipts,
providing customers with proof of their transactions.
 Balancing Cash Register: At the end of each day, the Cashier balances the
cash register, reconciling cash on hand with recorded transactions to identify
discrepancies.
 Managing Cash Flow: They monitor the cash flow to ensure adequate cash
is available for daily operations and coordinate bank deposits as needed.
 Providing Customer Service: The Cashier interacts with members,
answering questions, and resolving issues related to transactions and
accounts.
xii. Member Service

The Member Service department focuses on providing assistance and support to

cooperative members.

Functions of the member service Department in T-CCUL

a) Opening Accounts: Member Service representatives assist new members in

opening accounts, explaining products and services available.
b) Addressing Inquiries: They handle member inquiries related to accounts,
transactions, and services, ensuring timely and accurate responses
c) Assisting with Account Management: The department helps members
update their personal information, such as contact details and account
preferences.
CHAPTER THREE

ACTIVITIES CARRIED OUT BY THE INTERN

3.1 Activities Accounting Department

During my time in the accounting department, I gained hands-on experience in
managing the cooperative's financial records and ensuring that all transactions
were accurately recorded. This role provided me with a comprehensive
understanding of the financial aspects of T-CCUL and how they align with the
broader goals of the organization. The activities that I carried in this departments
include

a. Transaction Recording:

I was responsible for entering daily transactions, such as deposits, withdrawals,

and loan payments, into the accounting system. I learned the importance of
ensuring that all entries were accurate and categorized correctly to maintain
reliable financial records.

b. Preparing Financial Statements:

I assisted in preparing financial statements, including the balance sheet, income

statement, and cash flow statement. This activity deepened my understanding of
how financial data is compiled and presented to reflect the cooperative’s financial
health.

c. Bank Reconciliation:

I worked on reconciling the credit union’s bank accounts with internal records.
This involved comparing bank statements to the cooperative’s ledgers to ensure
that all transactions were accounted for and any discrepancies were resolved.

5. Expense Management:
I helped track and manage expenses by categorizing them into operating,
administrative, and miscellaneous costs. This activity enhanced my ability to
analyze spending patterns and identify areas where the credit union could reduce
costs.

6. Assisting with Audits:

I supported internal audits by organizing and reviewing financial documents to

ensure they complied with accounting standards and internal policies. This
experience taught me the importance of compliance in preventing fraud and
ensuring transparency.

Working in the Accounting department gave me a deep understanding of the

importance of accurate financial record-keeping and reporting. It also strengthened
my ability to analyze financial data and contribute to T-CCUL financial planning
and decision-making processes.

3.2. Activities Carried out in the Loan Department

The Loan Department is a vital part of the credit union’s operations, as it generates
a significant portion of the organization’s income. Loans provide members with
financial support for various purposes, such as business expansion, agriculture,
education, and personal needs. During my internship at Tikar Cooperative Credit
Union Limited (T-CCUL), I was actively involved in the activities of the Loan
Department, where I learned about loan processing, assessment, and management.
Below are the key tasks I performed during my time in the Loan Department

1. Loan Application Processing:

Processing loan applications was one of the most significant activities I carried out.
I assisted the loan officer in reviewing loan forms to ensure they were correctly
filled out and that all necessary documents, such as ID copies, guarantor forms,
and collateral information, were attached. I was also involved in assessing whether
applicants met the basic loan requirements. This included verifying the purpose of
the loan (productive or provident purposes) and ensuring that the applicant had a
stable income source and a good credit history. This process required thoroughness
to ensure that the credit union’s loan policies were followed.

2.Assessment of the 5Cs of Credit

I was trained to assess loan applicants using the 5Cs of Credit, which are Capacity,
Character, Condition, Capital, and Collateral. These five factors are critical in
determining a member's ability to repay a loan. I reviewed applicants’ financial
capacity by examining their income and savings records. For character, I checked
their creditworthiness and past loan repayment history. The conditions of the loan,
such as the interest rate and loan amount, were also considered in relation to the
applicant’s needs and current financial situation. Finally, I ensured that appropriate
collateral was provided, such as property or savings, as a security measure for the

3. Loan Disbursement:

Once a loan was approved, I helped facilitate the disbursement process by ensuring
that all documentation was complete and that the funds were transferred to the
borrower’s account in a timely manner.

4.Filing Loan and Overdraft Forms

Another key activity I undertook was filing loan and overdraft forms. I
systematically filed these forms in the loan register according to the date and
month of approval. This record-keeping process was important because it allowed
the credit union to track all loans in case of a system failure or for audit purposes. I
was taught the importance of chronological filing, which ensures that loan
documents can be easily retrieved when needed.

5 Loan Repayment Tracking:

I was responsible for monitoring loan repayment schedules and following up on
overdue payments. This activity taught me the importance of maintaining an up-to-
date loan ledger and keeping track of outstanding balances.

6. Loan Restructuring:

In cases where borrowers were struggling to make payments, I assisted in

restructuring loan terms to accommodate their financial situations. This involved
adjusting repayment schedules or interest rates to prevent default and maintain a
positive relationship with the member.

7. Debt Collection:

I learned how to handle debt collection for loans that were in default, which
involved contacting borrowers, negotiating repayment plans, and taking necessary
legal action when required. This experience taught me how to balance the
cooperative’s financial interests with maintaining positive member relations.

My experience in the Loan department taught me the importance of thorough risk

assessment and the various factors involved in loan approval and repayment
management. I also gained a deeper understanding of how the T-CCUL supports
its members’ financial needs while managing its own financial risks.

3.3. Activities Carried out in the Member Service Department

The Member Service department is the cooperative’s frontline, interacting directly
with members to provide support and information about products and services.
During my internship, I had the opportunity to develop strong customer service
skills and gain a deeper understanding of how to manage member accounts and
address their concerns. Here are the activities carried out in this department;

1. Opening New Accounts:

Creating new accounts for members was another key task I performed. This
process involved collecting the necessary documents, including the member’s ID
card and two passport-sized photos. I guided members through the account-
opening process, explaining the required payments, such as the 64,000 FCFA for
shares, registration fees, building contributions, and solidarity fees. After verifying
the documents, I filled out the membership form and entered the member’s
information into the system. Finally, I completed the process by issuing a passbook
to the member, which contained their account details .

2. Handling Member Inquiries:

I responded to member inquiries, providing information on account balances,

transaction history, and available services. This required a thorough knowledge of
the cooperative’s products and services and excellent communication skills

3.Assisting Members with Filling Pay-In and Withdrawal Slips

I frequently helped members fill out pay-in and withdrawal slips, especially those
who were unfamiliar with the process. For withdrawal slips, I checked the
members’ account balances in the system to ensure they had sufficient funds
before they proceeded to the teller. In cases where members were using cheques to
make withdrawals, I verified that the cheque was properly filled out, with the
correct date, bearer’s name, account number, and signatures. This task helped me
improve my knowledge of banking procedures and member interaction

I helped update member information in the cooperative’s database, ensuring that

personal details were accurate and up-to-date. This was crucial for maintaining
reliable records and ensuring compliance with regulatory requirements.

4. Assisting with Account Closures:

I learned how to assist members who wanted to close their accounts, ensuring that
all outstanding balances were settled and providing a smooth and efficient closure
process.

6. Promoting Products and Services:

I actively promoted the T-CCUL’s products and services to new and existing
members, such as savings plans, loan offers, and investment opportunities. This
helped me develop marketing and communication skills.

Working in the Member Service department enhanced my ability to communicate

effectively with members, handle various account-related issues, and promote the
cooperative’s products. It also reinforced the importance of providing excellent
customer service to maintain member satisfaction and loyalty.

3.3 Activities Carried out in the cashier Department

The Cashier department is responsible for handling daily cash transactions,
ensuring that all deposits, withdrawals, and payments are processed efficiently.
During my internship, I gained practical experience in cash management, security,
and financial transaction processes. The activities carried out in this department as
follows;

1. Processing Deposits and Withdrawals:

I handled deposits and withdrawals for members, ensuring that all cash
transactions were accurately recorded and that the correct amounts were processed.
This activity required a strong attention to detail and accuracy.

2. Managing the Cash Drawer:

I learned to manage the cash drawer, ensuring that it was balanced at the end of
each day. This involved counting the cash, comparing it to transaction records, and
resolving any discrepancies.

3. Issuing Receipts:

I issued receipts to members for their transactions, ensuring that each receipt was
accurate and reflected the correct amount. This reinforced the importance of proper
documentation in maintaining trust between the credit union and its members.

4. Fraud Prevention:
I learned how to detect counterfeit bills and identify suspicious transactions to
prevent fraud. This experience taught me the importance of security measures in
safeguarding the cooperative’s assets.

My time in the Cashier department helped me develop strong cash management

and transaction processing skills. It also reinforced the importance of accuracy,
security, and professionalism when handling members’ funds.

5. Internal Control Department

I The Internal Control department plays a crucial role in maintaining the integrity
of the cooperative’s operations by ensuring that all processes are compliant with
regulations and policies. During my internship, I learned about the importance of
risk management and the need for internal checks to prevent fraud and
inefficiencies. Activities carried out are;

1. Internal Auditing:

I assisted with internal audits by reviewing financial records, and documentation to

ensure compliance with internal policies and external regulations. This helped me
understand the importance of regular audits in maintaining financial transparency.

2. Compliance Monitoring:

I monitored departmental activities to ensure they adhered to the cooperative’s

policies and procedures. This activity taught me how to identify potential risks and
report any non-compliance issues for corrective action.

3. Testing Internal Controls:

I conducted tests on internal control procedures, such as reviewing approvals for

large transactions and ensuring that all necessary documentation was in place. This
helped me understand how effective internal controls can prevent errors and frau

4. Documenting Control Procedures:

I helped document the cooperative’s internal control procedures, ensuring that all
processes were clearly outlined and that employees were aware of their
responsibilities. This reinforced the importance of transparency and accountability.

5.Verification of Receipts
As part of the reconciliation process, I was responsible for verifying that each
financial transaction had a corresponding receipt. This included confirming that the
details on the receipt matched the details on the pay-in or pay-out slips, such as the
amount and account information. I paid particular attention to transactions
involving cash withdrawals, ensuring that each withdrawal was supported by a
valid receipt. This task was crucial in ensuring the legitimacy and transparency of
the credit union’s operations.

6.validation of Cheque Transactions

Another key responsibility I had was verifying cheque transactions. This involved
checking that all cheques had the required signatures, ensuring that there were two
authorized signatories for each cheque where necessary. I also made sure that the
photocopies of the ID cards of the individuals withdrawing funds were attached to
the transaction documents. This task was important in preventing fraudulent
activities and ensuring that the proper procedures were followed for cheque-based
transactions.

7.Documentation and Filing

Another important task I performed was maintaining accurate and organized
records. I was responsible for filing transaction documents, such as receipts and
pay slips, in a systematic manner. I used the chronological filing method to ensure
that all documents were easy to locate when needed. Proper documentation is
essential for any auditing process, as it allows for easy retrieval and review of
records in the event of an audit or financial review.
Working in the Auditing/Internal Control Department allowed me to gain valuable
insights into the importance of financial accountability and internal control in a
financial institution. The tasks I carried out, including transaction reconciliation,
receipt verification, and monitoring of cashier activities, were crucial in ensuring
that T-CCUL’s operations were transparent, compliant with regulations, and
safeguarded against potential risks. These activities have equipped me with a
strong understanding of auditing processes and their role in maintaining the
financial health of an organization.
CHAPTER FOUR

EVALUATION OF THE ORGANISATION AND EXPERIENCE

4.1 Problem discovered by the intern

The problem discover by the intern in T-CCUL is that of limited office where by
department like accounting do not an office of their own making it difficult for

4.2 SWOT analysis of the organization

SWOT analysis helps T-CCUL to identifies its strength, weakness, opportunity and
threats

4.2.1 Strengths of the organisation

This refers to those positive internal factors that enables the union to achieve its
goals. These factors are:

Skilled Workers: At T-CCUL, skilled workers are an asset because they possess
the necessary expertise and knowledge to handle complex financial transactions,
member inquiries, and loan assessments. Their proficiency ensures that members
receive high-quality services, boosting the Union's reputation and operational
efficiency.

2. Location: The location of T-CCUL, whether in an urban or semi-urban setting,

plays a vital role in its accessibility to members and potential clients. A
strategically placed branch can attract more members, particularly in regions where
banking services are limited or difficult to access.

3. Security: Security at T-CCUL encompasses both physical security for the

protection of assets, such as cash reserves and member information, and
cybersecurity measures for safeguarding data. A secure environment builds trust
among members and reassures them that their financial assets are well-protected.
4. Competent Staff: Competent staff at T-CCUL are individuals with not only the
requisite educational background in finance and accounting but also practical
experience in cooperative management. Their professionalism ensures that loans
are processed efficiently, records are accurately maintained, and member services
are of high quality.

5. Good Relationship Amongst Co-Workers: A good relationship amongst co-

workers at T-CCUL creates a positive work environment where communication
flows smoothly, teamwork is encouraged, and conflict is minimized. This unity
among staff leads to more productive operations and better service delivery to
members.

6. Diverse Services: T-CCUL offers a variety of financial services, including

savings accounts, loan facilities, and financial consultation. The diversity of these
services allows T-CCUL to cater to different member needs, from personal loans to
business financing, thus enhancing member satisfaction and loyalty.

7. Practices of Democracy: As a cooperative, T-CCUL is built on democratic

principles where each member has a say in how the Union is run. Members vote on
key issues and decisions, including electing the board of directors. This inclusive
approach strengthens member engagement and makes them feel valued.

8. Availability of Mobile Money Services: The availability of mobile money

services allows T-CCUL members to perform financial transactions without
needing to visit a physical branch. Members can deposit or withdraw funds, make
loan repayments, and transfer money easily, promoting convenience and
accessibility.
4.2.1Weaknesses of the organization

These are those negative internal forces that hinders the organization from
achieving its goals or objectives. Those forces are;

1. Inaccessible Websites: If T-CCUL's website is not easily accessible or user-

friendly, it can deter members from using online services, which may limit
engagement and member growth. A poor online presence can make it difficult for
potential members to find information about services or access digital platforms for
financial transactions.

2. Limited Machines: Limited machines, such as insufficient computers, ATMs, or

transaction-processing systems, can slow down operations at T-CCUL. This can
result in long wait times for members, delayed transactions, and a decrease in
overall service quality.

3. Insufficient Officials: T-CCUL may face challenges due to an inadequate

number of qualified officials or staff to manage the cooperative’s growing needs.
Insufficient staffing can lead to overworked employees, delays in processing
member requests, and a lack of proper oversight in financial matters.

4. Availability of Loan Delinquency: Loan delinquency, or the failure of members

to repay loans on time, can weaken T-CCUL's financial stability. High levels of
delinquency increase the Union’s risk, reduce liquidity, and can affect its ability to
offer new loans, ultimately limiting its growth potential.

5. Not adding value to their programs to products to differentiate it from that of

other credit unions: Those who win the market are those considered to be doing
beyond expectations. T-CCUL does not exert to add value to its programs. They
only tries to do what the other credit unions are doing. Hence nothing new to draw
new members and foster its chance of attaining its objectives.
4.2.3 Opportunities of the organization

This can be seen as positive external factors that facilitates the union’s plan
towards achieving its short and long term objectives but are uncontrolled by the
union. These opportunities include;

1. Technological Advancement: The adoption of modern technology offers T-

CCUL the chance to improve its operational efficiency, reduce manual errors, and
enhance member services. Technology such as digital banking platforms, mobile
apps, and advanced accounting software can streamline processes and attract tech-
savvy members.

2. Diversification of Products: By expanding its range of financial products, such

as offering insurance, investment options, or specialized business loans, T-CCUL
can attract a broader member base. Diversification allows the Union to meet a
variety of member needs, reducing dependency on a limited product offering and
increasing revenue streams.

3. Rapid increase in membership: With the increase in population especially in

Bamenda where the head office is located and due to the rural exodus caused by
crises in the crises, T-CCUL has recorded a significant increase in it membership.

4.2.4 Threats of the organization

This refers to those negative external factors the hinders the cooperation from
achieving her objectives. These factors are;

1. Market Competition: The rise of other financial institutions, such as banks,

microfinance institutions, and other credit unions, poses a threat to T-CCUL.
Competitors may offer better interest rates, more attractive loan terms, or superior
technology platforms, which could entice members to leave T-CCUL.

2. Political Crisis: T-CCUL, operating in Cameroon, may be affected by the

political crisis in the Northwest and Southwest regions. This crisis can disrupt
operations, limit access to certain areas, and create insecurity for both members
and staff. It can also lead to economic instability, which can increase the risk of
loan defaults and reduce member contributions.

3. Changes in technology: Due to the rapid changes in technology, T-CCUL is

finding it difficult to have technological equipment that can stand the test of time

4.3.1 positive experience of the intern

It gives me an opportunity to have a taste on work experience. Having this
experience therefore makes me to be confidence

Calculated skills: the intern acquired calculated skill during the attachment most
especially at the cash office where I was assigned to calculate cash brought by the
customers.

I also benefited how to carryout transactions, .registering new members into the
system using the computerized ALPHA system method.