FECECAM
FECECAM-BENIN, a decentralized cooperative and mutual financial system, was created on July 7, 1993, by its member CLCAMs (Local Credit Unions of Cameroon), which had existed since 1977. It was approved under number 1750/MEF/DC/CSSFD/SRE on December 31, 2008, and registered in the register of microfinance institutions of the Republic of Benin under number L.99.0002.A.
FECECAM has four statutory bodies:
- The General Assembly: the supreme body composed of all members of the affiliated credit unions;
- the Board of Directors;
- the Credit Committee;
- the Supervisory Board;
These bodies are respectively responsible for the overall direction and decisions, the strategic management of the umbrella organization and the network, refinancing for the CLCAMs, and oversight.
The operational management team comprises a general management team, eight (8) technical directorates, a deputy general directorate, legal counsel, two (2) business finance centers, and eight (8) regional technical delegations (DTRs).
The General Directorate (DG) oversees the overall management of all CLCAMs and CFEs through its technical directors and legal counsel. The Regional Technical Delegation Directors coordinate and supervise the CLCAMs in their respective regions. The Business Finance Centers support affiliated CLCAMs in processing and managing large-scale loans.
FECECAM-BENIN has national coverage and is structured at two levels: the umbrella organization, also known as the General Directorate, at the top, and at the base, the thirty-three (33) financially autonomous CLCAMs. It is present in all seventy-seven (77) municipalities of Benin, with one hundred and thirty-three (133) service points. The institution currently operates three (3) business units, including two business financial centers and a microinsurance company, CIF Assurance Vie Bénin. Its mission is to collect savings from its member clients and transform them into loans to finance various income-generating and non-income-generating activities. The services offered by FECECAM through its business centers (CLCAMs) and business units can be summarized as follows:
- Savings
- Loans
- Salary and pension direct deposit
- Life microinsurance
- Mobile services