CAMCCUL: June 30, 2012 AGM Resolutions

The annual general meeting of CAMCCUL Ltd Holding At Bamenda On 30^th June 2012 and Having Discussed and Deliberated on Various Issues Featuring on the Agenda, Hereby Adopts The Following Resolutions

1. The Board should meet with the other shareholders of UBC to discuss the fate of our investments in the Bank and seek ways to safeguard this investment in the light of the exit of OCEANIC BANK OF NIGERIA PLC from the capital of the Bank in favour of ECOBANK TRANSACTIONAL INTERNATIONAL

2. That the network shall abide by the “Redressement Plan/Project de Reponse” presented to COBAC by CAMCCUL following the latter’s report of its last control of CAMCCUL covering the period up to December 2010. The CAMCCUL Board/Management is therefore delegated to follow up with the implementation of these corrective measures.

3. That in the process of amending the Articles of Association of CAMCCUL, Model Bye-Laws of the Credit Unions and the Alternate Dispute Resolution policy was concluded on the 3^rd December 2011 in Buea during the Extraordinary Meeting of CAMCCUL, and the Credit Unions have already started applying these internal laws. The delegates therefore unanimously reiterate that the decisions of the AGM of the 03/12/11 remain binding and enforceable to the entire CAMCCUL network in a non retrospective manner.

4. The law is not retrospective, hence in carrying out new elections within the CAMCCUL network, the new reference shall be the decisions of the 03/12/11 in Buea adopting the Model Bye-Laws and Articles of Association of CAMCCUL; and to this end individual Credit Unions Shall freely carry out new elections using their Bye-Laws drawn up from the Model Bye-Laws adopted by the CAMCCUL general assembly on the 03/12/11 in Buea.

5. The General Assembly vehemently condemns acts of blackmail, sabotage and the divulging to the public of network sensitive information by some Credit Union officials. Due to the disruption of our network activities by certain detractors of the system in Bamenda, certain issues which are of primordial importance to our survival, like the taxation problems, delinquency, the stability of our Bank (UBC PLC) have been neglected by CAMCCUL management, whose attention is now diverted to resolving these problems, thus leading to serious setbacks in our operations. Promoters of such unscrupulous acts shall be severely sanctioned.

6. That the CAMCCUL network shall this year celebrate the International Credit Union Day concurrently with the World Co-operative Day. The Board and Management is delegated to make ample preparations towards these events and communicate to the Credit Unions.

7. That Board and Management shall continue to liaise with other stakeholders of the Microfinance sector to lobby government for a special tax dispensation for the sector.

8. That management should compile the ADR policy and transmit to the Credit Unions for implementation

9. That Management should implement the ATM project after its pilot stages, in certain Credit Unions taking into consideration certain technical and logistical considerations.

10. That the Risk Management premium be reduced by 20% with effect from July 1^st 2012 and the number of beneficiaries be increased to 10.

11. That League dues be reduced by 30% over a period of three years taking as a basis the 2011 end of year results, on a 10% annual reduction between 2012 and 2014 for new modalities thereafter.

12. That CAMCCUL field inspectors should always present a report of their interventions to the Board of Directors of any Credit Union in which they have carried out an audit exercise instead of just filing their comments in the Visitor’s Book.

13. That Credit Unions should as a measure of solidarity assist in reviving Njinikom Cooperative Credit Union, the pioneer Credit Union of the CAMCCUL network, which is under serious difficulties that threaten its very survival.

14. That the Board/Management should put in place a common security system for the network.

15. That CAMCCUL hereby create a think tank committee answerable to the Board of Directors to cater for the reorganization and restructuring of CamCCUL as well as reviewing issues of governance, compliance, operations, supervision, discipline, etc and proposals made to the CAMCCUL Board/Management for consideration.

16. That CamCCUL should deducts from the fixed deposits of credit unions which are still to pay up their shares and or still owing league dues, the sums still remaining unpaid by the later.

17. That Management takes measures to institute a process whereby part contributions from the Credit Unions are injected directly into equity.

18. That the reports as presented and discussed, including the appropriation of the financial results for the year ended December 2011 are adopted.

19. That the operational as well as the investment budget with emphasis being the continuation of Bamenda Commercial Avenue building project are adopted. Specifically, the Board should ensure the installation of a lift and water storage facilities on the premises.

Teku Collins Oben     Rabe Gaston

Secretariat

Kadjio Victor              Nzegge Joseph

Scrutineers

Tientchou Jonas         Musa Shey Nfor

General Manager         President