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TABLE OF CONTENT

CHAPTER ONE

GENERAL INTRODUCTION

1.1 Background of Internship.................................................................................2

1.2 Characteristics of Internship............................................................................2

1.3 Objectives of Internship …………….……………………………………4

1.4 Importance of Internship to the Organisation and the Interns....................4

1.5 Aim and objectives of internship......................................................................5

1.6 ORIENATION OF INTERNS AT BUEA P&T CORPORATIVE CREDIT

UNION......................................................................................................................7

1.7 Limitations of Internship..................................................................................9

1.8 DEFINITION OF TERMS USED BY THE COMPANY..............................9

CHAPTER TWO

PRESENTATION OF THE ORGANISATION

2.1 BACKGROUNG OF THE COMPANY........................................................13

2.2 PRODUCTS/SERVICES OFFERED BY THE COMPANY......................15

2.3 ORGANIZATIONAL STRUCTURE OF THE POST &

TELECOMMUNICATION COOPERATIVE CREDIT UNION LIMTED...17

CHAPTER THREE

ACTIVITIES CARRIED OUT BY THE INTERN

3.1 ACTIVITIES CARRIED OUT BY THE INTERN......................................21

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3.2.1 ACTIVITIES AT THE FINANCE DEPARTMENT................................22

3.3.1 ACTIVTIES IN THE ACCOUNTING DEPARTMENT.........................24

3.3 OTHER ACTIVITIES....................................................................................27

3.4 A REPORT OF TASK CARRIED OUT BY STUDENTS ASSIGNED BY

THE SCHOOL OF BUSINESS............................................................................29

3.5 COMPARING THEORY AND PRACTICAL.............................................30

CHAPTER FOUR

SWOT ANALYSIS, CONCLUSION AND RECOMMENDATIONS

4.1 SWOT ANALYSIS..........................................................................................33

4.2 RECOMMENDATIONS................................................................................37

4.3 CONCLUSION................................................................................................38

REFERENCES......................................................................................................39

CHAPTER ONE

GENERAL INTRODUCTION

1.1 Background of Internship

Most business colleges, universities and professional institutes warrant their

students to undergo a season in practical on what has been as theory is called
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internship. In so doing, they need to be committed in placement to attachment to

any established organization that is related to their pursued professional career.
Bearing in mind that it broadens the reasoning capacity of the intern socially or
otherwise, it serves as full-time or part-time services rendered which can be paid or
unpaid.

Internship is an opportunity to integrate career related experience in to

undergraduate education by participating in a planned and supervised work. It also
provides real world experience to those looking to explore or gain the relevant
knowledge and skills necessary entering a particular career field. I was privileged
to do my internship for a period of one months in Post and Telecommunication
Corporative Credit Union Limited, Molyko. It covered a period the month of 25th
February to the 22nd March 2023 and I had the opportunity to be guided by Mrs
koffi Edith who acted as my supervisor for this period.

1.2 Characteristics of Internship

A good and effective internship has certain characteristics which include things
like the period and the general organization as stated below:

An internship contributes to the student’s personal and professional development

through challenging work assignments and it is completed before the student
graduates from the university.

An internship should balance the work need of the organization and the learning
goals of the interns.

Internships promote academic, career and/or personal development.

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Internships are distinguished from a short –term job or volunteer experience in that
there is an intentional “learning agenda” structured according to the experience to
be gained.

The duration may be anywhere from eight weeks to two years, but typically last the
course of a semester.

Internships are planned and scheduled through consultation with the department or
university so as fit into the undergraduate experience.

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

supervision is carried out at the organization.

It includes career related experiences that complement what is learned in the

classroom. This simply means matching theory to practical.

The student will have a reflection and evaluation process at the conclusion of the
internship.

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

In summary, an internship program should provide the student with meaningful

work experience, and the employer with a qualified employee to carry out the
work. An internship should not be created solely to carry out clerical and/or less
desirable tasks, interns should be challenged by and learn from their internship in
ways that contribute to their educational and career goals.

1.3 Objectives of Internship

The main objective of my internship is simply to match theory to practical and this
will enable me to be ready for the job market.
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Internship is also meant to help strengthen my professional skills and interpersonal

relationships in a professional setting.

To allow me to get acquainted with business practices and procedures used in

various organizations.

To provide me with preliminary work experience that can prepare me for my future
career.

1.4 Importance of Internship to the Organisation and the Interns

This internship is important to the Organisation, the Interns and the University

1.3.1 Importance to the Organisation

1) The interns upgrade the organization with latest ideas of operating the business.

2) It is with internship that the organization will connect to the academic progress
of its field of operations.

3) It reduces the day to day work load and activities carried out in the organization.

1.3.2 Importance to the Interns

1) It exposes the intern to employers

2) It trains the interns to be acquainted with the working environment and the
activities carried out there.

3) Internship helps to improve upon the intern communication skills, manner of

approach through the Expenditure Service or Department and their manner of
dressing in the society.
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4) During the internships students are expected to match theory with practical.
1.3.3 Importance to the University

1) Strengthen the relationship between the student and the department if

the experience is facilitated by the university.
2) Department can benefit through feedback from the employer.
3) Help with the retention and graduation.

1.5 Aim and objectives of internship

1.5.1Aims of the Study

1) Internship aimed at integrating a career related experience into undergraduate

education by participating in a planned and supervised work.

2) Internship is aimed at providing working experience.

3) Internship is a relatively short term in nature with primary objective on getting

some job training and applying what were thought in the classroom.

1.5.2 Objectives of the study

Main Objectives

The main objective of internship is to equip the students with knowledge,

experiences and to prepare the students for the job market. Here the student tries to
link theory and practice.

Specific Objectives

I. Market students for employment thus curbing the risk of

employment.
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II. Enable students to be self-confident, productive intellectually and

otherwise.
III. It allows students to get acquainted with their field of specialty and
procedures used in their various departments.
IV. To provide students with preliminary work experience that can
prepare them for their future careers.
V. Internship builds up professional ethics in students and also adds to
the student’s knowledge. It also stands as a testing ground for the
knowledge acquired in school and to develop prospective skills on
how to manage common problems in one’s field of studies
( Banking and finance).
VI. It also helps the students to develop personal and interpersonal
relationship with other professionals in the field.
VII. It also helps one to become more time conscious and to have
knowledge on how office environment looks like and how to
interact with things related in one’s field of studies in a deeper
manner.
VIII. Moreover, it also helps trainees to acquire professional skills
relating to specific disciplines.

1.6 ORIENATION OF INTERNS AT BUEA P&T CORPORATIVE CREDIT

UNION

INFORMATION TECHNOLOGY

For information technology induction, we were told how to use company’s computers
and the wireless internet. For the computers, we were not allowed to put in USB keys or
what so ever. We were equally not allowed to bring our laptop to the company but we
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were allowed to work on the company’s computer but in case there was a need, the intern
has to take permission from his/her supervisor .We were also not allowed to use
company’s internet for personal use such as downloading videos, movies and other
entertainment things which aren’t meant for office purpose. If caught in this act, the
intern’s contract will be suspended for misuse of company property.

COVID-19 MEASURES

All workers and interns were given a talk how to protect ourselves from the covid 19 and
we were first ask to wear mask everyday especially when in direct contact with clients
and also buckets and water was made available both inside and outside of the company to
enable us wash our hands as many time as possible. Gel and disinfectant were equally
made available since most at times we had to be in contact with money and other things.
This talk was to sensitize us on the dangers of this disease in our community.

SAFETY INDUCTION

Here, all the interns were told the Do and Don’t of the company in respect to safety and
security of the organization. And were also told that security in the organization was
everybody’s business. We were trained how to use the safety gas in case of any danger.
And there was a room we were all called to gather in case of any risk.

WORKING AND CLOSING HOURS

Work was from Tuesday to Saturday every week and work was to start from 8:00 am in
the morning and end at 4:30pm daily. Saturday was consider as a half day so we were to
finish work as 1pm precisely. And we were to sign our name when we come to the office
that is the guard writes the time you come in the morning and you sign same thing when
everybody closes, this is to enable your superior check the time you came in and it was
always worthwhile to come 30 minutes earlier to avoid coming after your superior.

BREAK TIME
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Break time was very important and had to be respected effectively. Break time it’s one
hour from 12pm to 1pm precisely and everybody is to be back from the office at exactly
1pm but in case you are caught up with something, you have to make it known to your
supervisor.

RESPECT OF HIERACHY

Intern had to respect every employee no matter the position he/she is having in the
company. We were told to work as a team and the main reason for this was to provide
productive working relationship this was improve everyone chances of developing a
sense of belonging, so we can connect with peers and do the best at work. We were not to
talk back to your boss and in case we are it should be done with respect

COMPANY’S POLICIES

Interns were explain certain company’s policy like a code of conduct that we are to
follow maintain modesty. Firstly, we were told to be very respectful and tolerant to
clients because a member is always true so we had to have good working ethics that is no
matter the member is rude, we were told not to respond back or act impulsive. As an
intern you are not to work with your emotions instead you are to always wear a smile this
shows a positive attitude being at work and this greatly affects your job performance.
Another code of conduct of the organization is the dress code, we were told to dress like
professionals because we are representing the company. Behaviors like smoking,
chewing gum, eating and using phone during hours, wearing ear piece at work. This is to
avoid distraction in the work place and it’s consider unprofessional in the image of the
company. We were not to gossip or talk about co-workers boss or anybody in the
company.

1.7 Limitations of Internship

1. Sometimes it is costly since most students cater for their needs while
on internship with little or no support from the organization.
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2. Confidentiality. In all organizations, not every information is given

out to the non workers.
3. Time Limit. Considering the time stipulated for this undertaking, it is
sometimes short for all information about the organisation to be gotten
by the intern.

1.8 DEFINITION OF TERMS USED BY THE COMPANY

Buea Post and Telecommunication Corporative Credit Union has a common name they
use that is P & T credit union for their day to day activities;

BPTCCUL : Buea Post and Telecommunication Corporative Credit Union Limited . It is

a Cameroonian microfinance company located in the southwest region of the country,
more precisely in Buea. Its aim is to be a leader in the credit sector in this region and it
branches by offering opening accounts, sales of currencies, money transfers, internal
transfer and wagering provision of loans.

CAMCUUL : Cameroon Corporative Credit Union League is a network of 208 credit

union that also offers micro finances services . P & T is affiliated to CAMCUUL . This
means that Buea P & T credit union is connected with Cameroon Corporative Credit
Union League.

SOLIDARITY FUND: This is insurance for your money in case of any uncertainty like
flood, theft, and dead of a member and other.

SOCIAL FUND: This is like a trouble fund in meeting houses. In case of the death of a
member, the sum 100000frs is given to the family.

REQUISITION FORM: It is an internal document that employees use to purchase a

specific product or service. The employee describes the product and why it is needed.
The form is now sent and signed by the manager and accountant for review and approval.
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DAILY COLLECTION: It is a person employed to collect funds or money from people

daily most at times it is for saving.

DEFAULT LOAN: It is when a borrower fails to pay back a debt according to initial
arrangement.

DELINQUENCY: It simply means you are you are behind on payments that is payments
is not made by the due date as established in the loan.

OVERDRAFT: It is a short term loan borrowing operated only by current account

holders that is salary owners and through this they can be able to withdraw more than
what is in their current account by filling information on the overdraft form.

CONTROLLER: It is a management level position responsible for supervising the

quality of Accounting and financial reporting of an organization.

FINANCIAL CONTROLLER: It is a senior level executive who acts as the head of

Accounting and oversees the preparation of financial reports such as balance sheet and
income statement.

CASH RECONCILIATION: It is the process of verifying the amount of cash in a cash

register as of the close of the business. Its purpose is to ensure that the cash balance
recorded aligns with the entity’s actual cash balance in the company’s bank account.

PASSBOOK: It is a book giving to members by credit union in which all deposits,

withdrawal and earnings of a member saving account is recorded.

ACTIVE MEMBER: Member who fulfills condition of minimum number of

transactions per year with the credit union as stated from time to by the assembly.

COOPERATOR: It is member of a credit union.

BOD: Board of director. They are policy makers. They ensure the finances of the credit
union are handled properly, approves and monitors the annual budget.
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SP: Supervisory board. It is a group of individuals chosen to promote their interest

through the governance of the credit union.

PART TIME WORKERS: These are individuals or more precisely employees who
work less than a specified or full time worker. They work less than a specified number of
hours during standard work week. They mostly work in shifts and the shifts are mostly
rotational.

FULL TIME WORKER:It is full time job an employee works for a minimum number
of hours defined as such by the employer.

AFFILIATE: It is a financial or non-financial company that is related by either common

ownership or control example P&T affiliated to CAMCUUL.

ATM: Automatic Teller Machine. A machine activated by a magnetically encoded card

or other medium that can process a variety of banking transaction. Example of bank
transaction is withdrawal.

DEBIT: It is an account entry representing money you owe a lender or money that has
been taken from your deposit account.

INACTTIVE ACCOUNT: It is an account that has no activity, neither deposits nor

withdrawals posted to the account for a significant period of time.

JOINT ACCOUNT: It is an account owned by two or more persons. Either party can
conduct transactions separately or together as set forth in the deposit account.

LENDER: It is an individual, financial institution or other entity that lends money with
the expectation that the money will be returned with interest.
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CHAPTER TWO

PRESENTATION OF THE ORGANISATION

PRESENTATION OF BUEA POST AND TELECOMMUNICATION

CORPORATIVE CREDIT UNION LIMITED MOLYKO, BUEA.

2.1 BACKGROUNG OF THE COMPANY

The Buea P&T credit union started in 1963, when Rev.Fr. Jansen, a Dutch priest, serving
at Njinikom , Northwest Region , at the time , introduced credit unionism in West
Cameroon. The initial savings was 2100fcfa and there was eleven members. That is how
the idea moved out of the Northwest Region to the Southwest and ministerial
departments picked on it so as to make the idea popular and the people at that time
decided to attach the idea to services. That is how the ministry of Post and
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Telecommunication came in as a satellite organization to push forward the idea. The staff
of P&T credit in Buea, at the time, came up with the name P&T cooperative credit union.
At the beginning, it was decided that it should be open up to other interested people.
Today, you will not find P&T workers, all other individuals are invited to be part of the
union.

Aware of the fact that Buea P&T Cooperative Credit Union is established and managed
by individuals, corporate bodies and other groups who share in common the ambition to
improve on people’s living conditions, individually or collectively, through the
engineering and sharing of financial and related services.

The Buea P&T Cooperative Credit Union got registered on the 19/01/1994, with No
SW/CO/28/94/019, following the passing of law No 92/006 of 14 th August 1992 relating
to cooperative societies and common initiative groups in the Republic of Cameroon and
its decree of application, and that on the 27/06/2001, it obtained a license with No
00353/MINEFI as an affiliate of CamCCUL, to exercise microfinance activities in
conformity with laws and regulations governing microfinance activities in Cameroon,
and in particular CEMAC Regulations of 13 April 2002 laying down conditions for the
exercise and control of microfinance activities in the CEMAC Region.

Recognizing the need to comply with the provisions of all legislations regulating
cooperative societies, notably the OHADA Uniform Act of 15th December 2010
governing cooperative societies, as well as the Articles of Association of CamCCUL.
And equally recognizing the need to promote and preserve cooperative and governance
principles, while mobilizing and channeling indigenous financial resources in the form of
productive microcredits within the rural and urban sectors, with the overall goal of
improving livelihoods, alleviating poverty and enhancing economic development.

Article 2 of OHADA Uniform Act of 15th December 2010, to the effect that Cooperative
Societies whose object is to carry out financial activities shall be bound by community or
national laws in that area.
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As an affiliate of CamCCUL the credit union is obliged to work for the growth and
sustainability of the network as well as the micro finance industry in Cameroon.

The credit union is committed to respect the Articles of Association and policies of
CamCCUL and to be bound by the powers of this umbrella organ as provided by the laws
in force.

Articles 390 and 392 of the OHADA Uniform Act governing Cooperative Societies of
the 15th day of December 2010 which enjoins existing cooperative socities to conform to
the provision of the said law.

The head office of the P&T credit union is in Buea, Fako Division of the South West
region precisely opposite Buea Central Police Station. There are three other branches
which include the following;

IDENAUBRANCH which is located at Block 20 in Idenau. The target is fishermen.

MOLYKO BRANCH which is 200m from the University of Buea gate. Where we carry
out cash transfers for students, studying in universities in Buea like HIBMAT, ST
MONICA, BIAKA, and UNIVERSITY OF BUEA and even giving out part time and full
time salary for workers of these institution.

MUNYEGUE BRANCH at Munyenge central town. The target here is cocoa farmers
and operators.

2.2 PRODUCTS/SERVICES OFFERED BY THE COMPANY

2.2.1 PRODUCTS OFFERED BY BUEA P&T CREDIT UNION

CHEQUE BOOKLET: It is a small book of cheques which is giving by the credit union
to members so you can collect money from your account using your cheque.
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PASSBOOK : It is a book given to all members who are fully register under membership
in the credit union and it is made up of all transaction that have been credited and debited
in the account.

SHARE ACCOUNT: It is a saving or checking account at credit union. The account

establish your share of ownership and allow you to use the great features the credit union
has to offer as a member.

SAVINGS ACCOUNT: It is an interest bearing account held at the credit union and
when withdrawing more than one hundred thousand in the saving account, you need to
notify to the union and usually with a fee to pay depending on the amount.

DEPOSIT ACCOUNT: It is a bank account maintained by a financial institution in

which a customer can deposit and withdraw money.

MINOR ACCOUNT: It is children’s savings account, it is a saving account for a

member under age and it doesn’t allow the minor to make withdrawals and deposit.

GROUP ACCOUNT: It is a group of people that come into an agreement to open an

account most at times for savings.

LOAN REPAYMENT: It is bank account that is set up as a repayment method for a

member who has been given a loan.

2.2.2 SERVICES OFFERED AT BUEA P&T CREDIT UNION

SALARY PAYMENT: This is payment the credit union pays employees for the work
done and it is mostly paid monthly.

LOANS: This is money the credit union gives to a member in exchange of repayment of
the loan principal amount plus interest. Loans terms are agreed before any money is
advanced. There are many kinds of loans in Buea P&T credit union which will be
highlighted on;
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SCHOOL FEES LOAN: This is loan taking by a parent or guardian to help them cover
the cost of their children in university.

OVERDRAFT: This is a short term loan mostly taking by current account holders that is
salary earners.

LOAN INSURANCE: This is what the company cover and protect eligible members
with company loan.

FLEXIBLE LOAN: This is a pretty convenient loan for members because they are
allowed to borrow as much as possible because it permits you to increase or decrease the
amounts borrowed.

SAVINGS INSURANCE: It is provided by the credit union for all eligible members as
an additional incentive to save regularly and maintaining savings with the company.

CHEQUE CLEARING It is simply the process whereby funds move from one account
to another to settle a check payment.

SOLIDARITY FUND: This is a fund in case of any uncertainty like flood, theft and
dead of a member.

SOCIAL FUND: This is a fund giving in case of death of a member and usually given to
the family

2.3 ORGANIZATIONAL STRUCTURE OF THE POST &

TELECOMMUNICATION COOPERATIVE CREDIT UNION LIMTED
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DESCRIPTION OF SOME MAIN FUNCTIONS AND HOW THE UNITS ARE

RELATED

GENERAL ASSEMBLY

It is also known as general meeting and the general assembly grants a great deal of power
to the board. It is a meeting of all the members of an organization. It shall be the supreme
deliberating organ of the credit union. It is convened by the Board of Directors and it is
held at the registered head office of the credit union. Members shall be informed 15days
before the meeting and the meeting take place within six months following the end of the
financial year and in accordance with CamCCUL’s calendar for its network. Its function
is to confirm the minutes of the last Annual General Meeting, deliberate on the
management reports. Listen to and discuss the reports of the Supervisory Board and the
audits reports. Approve or adjust before approval, the appropriations of the net surplus.
Equally approve the operational and capital budget for the next financial year and also
elect the President, Vice-President and other members of the Board of Directors when
elections are due.

SOURCE:BUEA P&T’S ACCOUNTANT, September 22nd 2021.

BRIEF DESCRIPTION OF SOME MAIN FUNCTIONS AND HOW THE UNITS

ARE RELATED

THE GENERAL ASSEMBLY

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They are also called general meeting and it is a meeting of all members of an
organization. It is equally the supreme deliberating organ of the credit union. Voting is
done by secret balloting. The function of the general assembly to appoint external
auditors and this appointment it’s to be in conformity with guidelines from CamCCUL. It
is equally responsible to elect the President, Vice president, elect members of the
supervisory board and other members of the Board of Director when elections are due. It
also have to approve internal regulations and adjust, approve or reject accounts. Members
are to be informed of the general meeting at least 15 days before the meeting. In P&T
credit there is two types of general meeting that is the Education General Meeting (EGM)
which takes place within the year determined by the Board of Director and validated by
the General Assembly. It has three specific duties that is to educate members on various
aspects of the credit union. To update members with current information and legislations
concerning the credit union and to plan and prepare for certain events that come up
during the latter part of the year such as International Credit Union Day. The Extra
Ordinary General Meeting(EOGM) is competent to deliberate on the following matters
like approving or amend the Bye-Laws. Transferring the location of the head office,
electing Board of Directors where there is vacancy in the presidency and vice presidency
or where the number of Board of Directors has reduced to less than half, to decide on
affiliation or disaffiliation from CamCCUL by at least a two third majority vote of
registered members and to address issues threatening the existence of the credit union
such as loan delinquency crisis.

THE BOARD OF DIRECTOR

Board of Directors are elected by the General assembly and he/she is elected for a term of
three years renewable. The board of director is responsible for the general direction and
control of the credit union. They are appointed by the general assembly. The board of
director is responsible for the management of the credit union. It shall be bestowed with
the widest powers to act in all circumstances on behalf of the credit union. The board
shall exercise these powers within the scope of the corporate purpose. The board shall be
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answerable for any action taken by committees except the supervisory board. He is
equally accountable for any act of mismanagement as per the provision of the law. They
have specific functions like specifying objectives of the credit union. They can equally
close members account and ensure the application of cooperative principles in the
management of the credit union. They equally set training and education program of
members, staff and elected officials and ensure the safe custody of the credit union’s
assets and their prudent and profitable use. They are also responsible for employing,
empowering and ensuring discipline among staff and terminate them if necessary. Most
importantly to ensure the compliance with network policies, the cooperative law, micro
finance regulations, the OHADA Uniform Act and any other regulations governing the
activities of credit unions.

SUPERVISORY BOARD

The credit union needs to have a supervisory board and it doesn’t need to be more than
five and not less than three in Buea P&T credit union. The main duties of the supervisory
board is to evaluate programs of the credit union, count cash regularly and make and
make recommendation to the board of directors and management. They equally listen to
members complaints and submit such complains to the board of director for solution.
They also prepare and present reports to the board of director and to the general meeting.
They can also cooperate and seek assistance from CamCCUL and report any
irregularities observed to the board of director and CamCCUL. They are also responsible
to find out if the credit union carry out their duties in the best interest of its members of
the credit union.

THE MANAGER

The Buea P&T credit union has a full time manager who is appointed by the board of
director and assign to do manager function necessary for the day to day operations of the
credit union. The manager shall perform functions under the supervision of the board of
directors and within the limits of power conferred to him/her. The manager is responsible
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for implementing the policies laid down by the board of director and representing the
credit union vis-à-vis third parties within the limits of the power delegated to him/her by
the board of director. He/she will equally be responsible for drafting and submitting to
the board of director for approval. Also he/she is to prepare the accounts for the financial
year or for any other period requested or define by the board of director. Ensures the
proper custody of cash receipts and payments, draft periodical management reports and
present to the board of director and perform his/her duties under the authority and
supervision of the board of director which shall appoint and fix his/her salary, promote
and terminate him/her in accordance with the law in force.

It is good to note that No person shall be appointed or continue to act as Manger/General

Manager if he/she has been sentenced to an imprisonment term for dishonest behavior
like theft, misappropriation, embezzlement of public funds, fraud, and breach of trust,
forgery or indecency.

No person shall be appointed if involved in fraudulent and or improper loan granting

occasioning loss to the credit union.

And No person shall be appointed if he/she involved even through an intermediary or

occasionally, in any activity competing with and/or likely to be prejudicial to the
activities of the credit union.

The manager may be present in board of director meetings in an advisory capacity, to

present the accounts and give necessary explanations to it. He/she has to ensure the
implementation board of director decisions. He/she shall not vote in decision making.
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CHAPTER THREE

ACTIVITIES CARRIED OUT BY THE INTERN

3.1 ACTIVITIES CARRIED OUT BY THE INTERN

On the first day of my internship, the intern was taken to the Human Resource
Department and from there, I was given a contract to sign and this contract stated the law
I had to abide as an intern in the Buea P&T credit union. The contract equally stated
duration of the internship and the compensation given at the end of the internship.
Afterwards the intern was taken to her department and was being introduced to
employees in the department and the employees started interacting with me and making
me know some norms to follow in the Buea P&T credit union like opening time is 8:00
am and closing at 4:00pm and Saturday closing time is at 1:00pm but we are to come
thirty minutes in the morning and close all together when closing this is to witness we all
left the office at once. The intern had to come thirty minutes before time and working
days for interns is from Tuesday to Saturday and Monday to Saturday for the manager,
cashier and accountant and when they can’t make it on Monday, they work hand in hand
at home. The intern was made to understand that the camera in the union are fully
working and through this, everything you do can be seen. Not much was done on the
first day because I was looking at what others did and learning from them and I equally
asked questions.

3.1.1 ACTIVITIES AT THE HUMAN RESOURCE DEPARTMENT

At the Human Resource Department, the role I played was to collect internship form
from students who apply for work experience in Buea P&T credit union. I had to control
that they write their name, telephone number and their internship application letter to the
manager. When I collect it, I had to put it in the file of Internship Application and save it
in the credit union folder on the computer with the heading Internship Application and
this was to facilitate the Human Resource Manager when he wants to contact new interns.
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And this also was to update the company internal data base with new intern information
including contact details and names.

Equally, the intern is responsible for maintaining and satisfying clients by delivering
assistance to clients when needed. This had to do with updating member’s passbook after
every transaction that is either a cash in or a cash out. When is a cash in, I had to add
what they previously had in their account plus the amount they are cashing it and when is
a cash out, I had to deduct what was in the account from the one the member collected
and update the passbook.

Also, the intern played a role in answering phone inquiries from the office and taking
note of information pass especially when the Manager, Accountant or Human Resource
Manager is not on sit and update them when they come. The intern also could permit
people from entering the manager office in order and when she’s told to do so.

3.2 ACTIVITIES CARRIED OUT BY THE INTERN

On the second day of work, the intern was given a handover that is work the previous
intern did in my department. I had to take a look at the hand over and explained what I
could understand in it. The intern was called to work with the teller that is the Cashier
and see what she’s doing. The first thing I noticed is that Buea P&T credit union uses the
software ALPHA SOFTLINK FINANCE. Cash in is when a customer comes to deposit
and Cash out when someone wants to withdraw. The Cash in form is Black and the Cash
out form is Blue

3.2.1 ACTIVITIES AT THE FINANCE DEPARTMENT

At the Finance Department, I work with the cashier and I did cash in and cash out from
clients, students whose schools have accounts with P&T and the schools are HIBMAT,
BIAKA and ST MONICA. The intern filled client information when doing Cash In and
before validating the Cash In transaction firstly, I enter the clients or member account
number, write the date , select member saving either Savings or Deposit depending where
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he/she wants the money to be kept but most at times is in the Saving Account because it
yield interest, then I write the amount the person wants to save and when filling the
amount I take note of the number of 10,000frs,5000frs and other amounts written by the
clients or member on its Cash In form is correct so that I can have a round figure at the
end of the day when closing my cash and then I save and print out. When I save it , I print
it out, gives the cashier to sign and see if what I’m doing is correct and I give the clients
or member too sign where there is membership signature and divide the form into two
and give the client receipt and keep one. So when printing the intern prints two copies of
the receipt at once and gives one to the clients and remain with one as prove.

The intern equally had to help members to check their receipts when giving to them and
in case of any error in the amount or anything, I show to cashier.

The intern was mostly thought how transactions are done and at the end of the day, the
cashier closes the cash, if the cash doesn’t balance it means there is a mistake and she
needs to look over all the past transaction she did through the receipts and figure out
where the mistake is coming from so her cash can be balance with the one in the
machine. And the intern assist the cashier when closing her cash so she can assist her in
case of any problem. Before closing, the intern prints out the Accounting Journal and this
is a paper made up of all transaction that took place in the day.

The intern is to cross check yesterday’s receipts using the Accounting Journal and a red
pen to tick on the accounting journal if its shows the same transaction on the receipts and
equally tick the amount on the receipts matching with the one on the accounting journal.
Before doing this exercise, I was to check the Form Number, Account Numbers, the
amount, and if the transaction is a Cash In or a Cash out both on the accounting journal
and receipts. All this need to be matching in the accounting journal and the receipts
before ticking.

The intern with the approval of the cashier prints out the Cash Reconciliation which is a
paper that has the completeness of transaction across the company’s financial system and
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it provides assurance for cash and revenue balance. I give the manager and accountant to
sign. The cash reconciliation is for internal control and to avoid fraud.

3.3.1 ACTIVTIES IN THE ACCOUNTING DEPARTMENT

At the Accounting Department, the intern was showed how to give loans and how loans
are been calculated. The intern played a role in giving out, calculating and filling
overdraft. The overdraft is a short term loan borrowing operated only by current account
holders that is salary earners whereby they can withdraw more than what is their current
account by filing the information on the overdraft form. The overdraft form is the form
that will serve as proof or what helps the union to get to you in case you fail to pay. The
overdraft forms is filled by the intern with information like the name, home and office
address, telephone number, Account number, the amount requested in number and in
words, Id card or passport number, date of when the Id card was issued and the place and
the client signs.

The intern hand the overdraft form to the Accountant who checks the clients account and
when he checks your account and checks your last transaction, in case you want to take
more than the previous one, he will check if you have paid the last overdraft and if not,
the amount you requested will be reduced. The intern assist the Accountant and he checks
how the intern calculates the overdraft. An example;

The percentage to calculate overdraft in Buea P&T credit union and the percentage is 3%
irrespective of the amount. An example if a current account holder wishes to take an
overdraft of 40,000 FRS, calculate the overdraft in P&T credit union. You just do 40,000
x 0.03 = 1,200 FRS + 200 = 1,400 FRS. Total amount for reimbursement is
40,000+1,400=41,400FRS that is instead of the customer reimbursing 40,000FRS, he/she
will reimburse 41,400FRS and 1,400FRS is the profit the union makes. The 200 that is
added with 1,200FRS is the form the union sells that is the overdraft form. When he
checks my calculation and it is correct, he can now sign and indicate on the form you are
to pay a 3% irrespective of the amount and I take the form to the cashier for payment.
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The Accountant also made me know Rules Loans to Members and these are rules the
intern needs to follow when giving out loan. The loan rule is found in the BYE-LAWS

The credit union shall grant loans to members in accordance with its loan policy. The
loan granting authorities shall be those provided in the loan policy to members.

A loan must be fully covered throughout its duration by either uncommitted funds of the
member in the credit union and/or other forms of securities as per the Credit Union Loan
Policy.

Assets held by the borrower within the credit union and those of the sureties shall serve
as guarantees, they may be frozen, based on the amount and the interest due.

The maximum amount of the loan to be granted to a member must conform to the loan
policy adopted by the general meeting.

A loan may not be granted if:

Conditions of membership or savings are not fulfilled.

If the member previous loan repayment and interest has been overdue for a consecutive
period exceeding six months.

If the person concerned has not been a member of the credit union for a period stated in
the internal Regulations.

If the financial situation of the credit union doesn’t allow for granting of loans.

If the amount of delinquent loans (Portfolio At Risk 60) exceeds 25% of the total amount
of loans outstanding in the credit union and

If the total loans outstanding in the credit union, excluding reserves and external loans are
up to 80% of its savings.
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Furthermore, other rules to loan to members says the credit union reserves the right for all
loans, to demand or call up for its reimbursement, if the financial standing of the
borrower is degrading or there is evidence of unauthorized or poor use of the loan. The
decision in this respect shall be taken to the Board of Director.

The credit union reserves the right to publish names of delinquent members provided that
such members have ignored reminders from the credit union to make good the sums due
the latter.

The repayment of loans shall be scheduled in such a manner as to ensure that the
installments do no exceed the duration of the repayment contracted.

The rate of interest on loans shall be determined by the loan policy approved by the
Board of Director and ratified by the general meeting. This rate shall be done in line with
the interest rate range set by CamCCUL for the network.

The loan repayment may be extended. This must however be in line with the loan policy
of the credit union

CamCCUL shall play its supervisory role in the appraisal of loans above certain limits as
specified by the loan policy, CamCCUL circulars and other CamCCUL guidelines.

The intern could process loans now after knowing the rules to loan to members and the
intern filled clients loan form and explained to the clients in case of any doubt and also
pass information like bringing sureties for loan more than a million. The intern fills
clients loan form and the Accountant assist the intern on decisions which concern the
amount the client will pay each month to repay the loan and the intern takes all the loan
forms to the general manager in the head office for him to sign.

The intern handles Default Loan and this loan occurs when a borrower fails to pay back a
debt according to the initial arrangement. The intern files members who have default loan
and a loan delinquent that is the period between missing the loan repayment and having a
loan default. The intern files it and gives the Accountant.
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3.3 OTHER ACTIVITIES

The other activities carried on by the intern was learning from other interns in my
department. The intern played a role in giving out full and Part time salary for institution.
When someone comes to take part time, there is a list already giving by the institution
and it’s been treated by the manager and giving to intern to attend to individuals
collecting part time. When someone comes to take its part time salary, the intern is to ask
for the person ID card and which department like BIAKA part time is having both Health
Science or Management Science and fill the person Withdrawal Form and fill the
information. Information like Biaka part time and the amount should be written in red
pen for easy identification to the cashier. The intern checks the person sign on the
withdrawal form and also on the form the institution gave for the part time with the
person ID card number written on the Biaka part time form.

The intern takes note of the charges removed when paying salary example for Biaka part
time thirty thousand and above is charged a thousand francs and below five hundreds
francs.

Also part time is filled differently from full time. For full time, they have a pass giving to
them by the school, it is a piece of paper with your name and school stamp and the person
fills all the information on the withdrawal form that is his account number, telephone
number, his/her name as in his accounts, the ID card number, when it was issue and the
day, who is withdrawing and the person signs. The intern fills information for a full time
worker. The cashier writes the amount the worker is to collect and she gives the worker
receipts, he can check the amount.

The intern was told to take note that part time workers are not to snap or make a
photocopy of the part time salary form, in case you have a problem with your number of
hours, the problem is not at the level of the union but at the school so you are to note on a
piece of paper the number of hours on the part time form and report at the level of the
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school. I was to be accountable in case I am caught accepting that especially if I was

bribed or any kind of fraud happened.

Another activity I did was to apply for membership that is what you need to be a member
in Buea P&T credit union. I had to explain the terms to apply for membership clearly to
customers. The requirement is a photocopy of your National Identity Card and two
passport sized photographs. The conditions to open an account include the following;

Shares 5,000FRS

Building construction 10,00FRS

Solidarity fund 20,000FRS

Social fund 1,000FRS

Entrance fee 2,500FRS

Bye laws 1,000FRS

Pass book/loan policy 1,000FRS

Initial savings 2,000FRS

Total 42,500FRS

This 42.500FRS is the least amount you can start with but the total amount to start with is
87,500FRS where the share is 50,000FRS. Note that the share that is money you gave for
share is your money and is refunded to you when you want to close your account and this
share yields interest at the end of the year.

Solidarity fund is the insurance for your money in case of any uncertainty like flood,
theft, and dead of a member.

Social fund is the fund giving in case of the death of a member, the sum of 100,000FRS
is given to the family.
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During the course of the internship, when new files came in like forms for full time
workers, the field supervisor treats it and the intern records account number of workers of
these files.

Interns had a meeting with the manager about the background of the company and critical
information concerning the company we are to know. And the intern had to take notes so
as to report the meeting to the manager.

3.4 A REPORT OF TASK CARRIED OUT BY STUDENTS ASSIGNED BY THE

SCHOOL OF BUSINESS

My task consisted of Total Quality Management and Productivity in Buea P&T credit
union.

Total quality management is a management approach to long-term success through

customer satisfaction. It is improving the quality of products, services or processes by
focusing on customer needs and expectation to enhance customer satisfaction and
organization performance. I will highlight how total quality management plays a role in
Buea P&T credit union;

Total quality management satisfy members of the credit union and this is because
customer are attended to and their needs are met which exceed customer expectation and
will lead to the success of the business because it lead to mouth to mouth marketing and
result to customer loyalty. When members are satisfied, they bring more members to the
union.

Total quality management has an important and beneficial effect on an employee and the
credit union development. Because by having all employees focus on quality
management and continuous improvement, the credit union can establish and uphold
cultural values that creates long term success to both members and the credit union.
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It has enable the P&T credit union to continuously improve on performance,

organizational flexibility and increase ability to embrace new opportunities. The credit
union is able to create new products, service and processes.

Total quality management leads to the good leadership in the credit union and we know
good leadership results in an organization success. This is because it establishes unity and
purpose among the workforce and manager. The manager creates an environment that
allows employees to realize their potentials and get actively involved in achieving the
credit union objective. And this motivates employees who may improve productivity and
this lead us to productivity in P&T credit union. Productivity is how efficiently a process
runs and how effectively it uses resources. Productivity has a great impact in Buea P&T
and points will be highlighted on;

Productivity in Buea P&T increase customer satisfaction. This is because when

customer’s need and demands are made on time, customer satisfaction increases and
leads to the success of the credit union.

Productivity leads to lowering occasional cost. When productivity is high, it reduces the
cost of occasional cost because few resources are spend in running the business.

Productivity improves competitiveness. The buea P&T is increase competition with other
credit union because they want to satisfy their member best.

Productivity yields employ satisfaction in Buea P&T credit union and this is because
employees are satisfied of their work in the credit union.

3.5 COMPARING THEORY AND PRACTICAL

According to Cameroon’s Law, we are told theorically that every employer is supposed
to pay CNPS (National Social Insurance Fund) to its employees but practically in Buea
P&T credit union the employer does not pay the security guard CNPS.
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Theorically, in school we were taught that Robert. K Greenleaf coined Servant

Leadership in his 1970 essay. Servant leader requires leaders to place the lead of others
over their own self-interest. Greenleaf believes that leaders have a special responsibility
to care for the disenfranchised and to serve them first and practically, in Buea P&T credit
union the manager at the Molyko branch has characteristic of a servant leader that is she
is committed to the growth of people, she is always willing and committed to help other
develop. She is also building the community by pursuing unity and relatedness with
others.

Furthermore, theorically, we are told that all companies use one Accounting code given
by OHADA whereas I realize that in P&T the accounting code was generated from the
harmonize one. The accounting code was not the same thing in the credit union as stated
in the Uniform Act of 24 March 2000 on the harmonization of the accounts of enterprises
article 24 where it says “each item of the financial statement shall bear the same code
number as a corresponding item bore in the previous fiscal year.

Moreover, in the operation department where the customer satisfaction is the credit union
priority, the intern encountered different people with different mindset, language and
mood swings practically, we were not taught how to manage it. And this shows how
theories and practical conflicts.

The Relationship theory of leadership focuses on leaders who are mainly concerned about
interacting with others. The Buea P&T credit union leaders are mentors. So theorically,
the Relationship theory is practically perform in the credit union because leaders are
focused on fostering a positive work environment an example is the manager who takes
new employee and intern to work with her under her wing.

Maslow Hierarchy of Needs theory is use in motivating employees at the Buea P&T
credit union. Under this theory, individual growth is the key to an organization success.
Supervisors attempt to satisfy employee need and foster employee job satisfaction. The
credit union satisfy employee needs;
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Physiological needs: Manger focuses on the physiological needs of employees by

providing comfortable working conditions, reasonable working hours and necessary
break to have time to eat and drink.

Safety needs: These are needs that provide a sense of security and well-being. The
manager provides safety needs of employees like providing with safe working conditions,
job security. And equally on sick days we were told to stay home till recovery.

Social needs: These are needs to feel a sense of belonging and acceptance. It is important
so employees don’t feel alone, unappreciated or isolated. The Buea P&T manger
encourages social needs of employees by making sure employees know one another,
encourages team work, being an accessible and kind supervisor and promotes a good
work life balance.

Esteem needs: It is self-esteem and respect, with self-respect being more important
because you it is through it you can gain respect and admiration for others. The manager
provide self-esteem needs of employee by offering praise and recognition when
employees does well.

Self-actualization needs: It describes a person needs to reach his/her potentials. The

manager provides challenging work, inviting employees to participate in decision making
and having career discussions with employees.

To conclude, the Maslow’s Hierarchy of Needs studied I school was practically followed
by the Buea P&T manager.

The theory and practical compare and contrast what the intern learned and understood in
class and how to blend the theorical part and the practiced in the work experience.
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CHAPTER FOUR

SWOT ANALYSIS, CONCLUSION AND RECOMMENDATIONS

4.1 SWOT ANALYSIS

SWOT which means Strengths, Weakness, Opportunities and Threat. It is a frame work
used to develop a company’s competitive position that is something your competitors do
not have and to develop strategic planning. It is a technique use for assessing the
performance, competition, risk and potentials of a business. And you can use the SWOT
analysis to make the most of what you’ve got, to your organization best advantage. And
you can reduce the chance of failure, by understanding what you’re lacking and
eliminating hazards that would otherwise catch you unaware. Through it, you can craft a
strategy that distinguishes you from your competitors and so compete successfully in
your market.

4.1.1 STRENGTH OF BUEA P&T CORPORATIVE CREDIT UNION

When talking about strengths, it is what the credit union best excels at that is what
separates it from its competitors. The strengths of Buea P&T credit union can be seen
from the following;

CUSTOMER LOYALTY

Buea P&T credit union have very loyal members not only because of the discounts new
members have when opening accounts. This is because when you open an account in the
credit union, you become a member of the credit union. A member here means part of the
credit union family and the credit union works to please the its members and the main
reason is because the members are the one that make the credit union so more focus is
giving to them and by that the credit union gives the best customer service. Their
customer are equally loyal because the Buea P&T credit union is have rules in place that
are more forgiving like an example there is a fees to be paid to remove from your deposit
if your money is not up to the credit union comes to an agreement with you depending on
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how much you can offer. The credit union uses member funds to provide loans and other
financial products and services and any income generated is used to pay dividend to
members and this benefits the members and their interest because of the strong feeling of
trust. You can check customer reviews online.

LOWER FEES

The Buea P&T credit union offers lower fees for new members opening account like
right now there is promotion going on in opening account. If you cannot meet up with
your 50,000FRS share to open an account, you can pay it in two years. And when
withdrawing at the automatic teller machine ATM, you are not charged. And when taking
overdraft, you pay 3% irrespective of the amount but you can come into an agreement
with the credit union that when your salary passes, they can deduct a percentage from
there to pay your overdraft.

THE CREDIT UNION IS NON-PROFIT

The Buea P&T credit union offers better interest rate and this is because it is not a profit
making financial institution but on covering their operational costs. They offer better rate
to their members. This is why members are better served and are able to save a
significant amount on loans. The profits generated during a financial period are shared
with members. The credit union exploit such strength that is not paying tax by finding
alternative income generating activities and the activity can impact the members
example is the project construction P&T assisted to construct a government technical
college in Munyegue.

MOTIVATION

The credit union is growing up so fast and before, cooperators will not demand for huge
sums of loans but today since the challenges are becoming enormous, and members are
asking for huge sum of money. Though this, the credit union is motivated more to
provide for their members and satisfy them and that is why they stretch out to avenues
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where they can generate income and move to the real estate to get alternative sources of
income. The union also provide plenty of products that is they have offer like savings
accounts, students accounts, checking account which motivate new members in the
union.

4.1.2 WEAKNESS OF BUEA P&T CORPORATIVE CREDIT UNION

When talking about weakness, it is areas where the credit union needs to improve to
remain competitive and the weakness of P&T include the following;

LIMITED NEW TECHNOLOGY

Buea P&T credit union lack in new technology that is we all know how technology has
taken over the world now our days but the credit union does not have an app online or
cannot do transaction online that is customer cannot deposit or withdraw online, members
cannot assess their funds and transaction except they come to the credit union. Even with
the mobile money which makes things easier for customer because when the cashier
doesn’t have change and the customer ask if it can be send through mobile money the
credit union cannot because they don’t do online transaction which drives customer or at
times makes the customer to find change their selves which isn’t good. The credit union
has one ATM working and the one at the head office.

LESS FLEXIBILITY

The Buea P&T credit union has less flexibility and this is because I can be at work at
7:30am and up till 7:45am it is still close, sometimes members come and wait till 8am
before they open and even at that time the cleaner will have to dry clean first, saver has to
come on before customer can be attended to. They credit union opens late and closes at
4:00pm which is closing time for some people and before they can reach, the union is
locked. They need more resources to allocate to customer service.
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NOT INNOVATIVE

When I did work experience in Buea P&T credit union, I realized they are not innovative
because they don’t have a bank note counter that is a money counting machine. I
remember we had to close one day very late because someone bought twenty five million
and we had to join hands to count which was stressful and tiring because you have to start
back when you lose track. And also, sometimes when there is no light they give manual
receipts to students which most at times turn to come back because it is rejected in
school.

4.1.3 OPPORTUNITIES OF BUEA P&T CORPORATIVE CREDIT UNION

The opportunity refer to favorable external factors that could give an organization a
competitive advantage. The opportunities of Buea P&T credit union includes the
following;

YOUNG MEMBERS

The Buea P&T credit union is mostly made up of an aged population so the credit union
can create opportunities by attracting young members into membership. And to be able to
do that, the credit union needs to improve on technological innovation to provide
products and services that will attract young customers and we all know it will facilitate
students especially from coming to pay school fees at the credit union they can rather do
it on their smart phones using banking apps.

SMALL BUSINESS LENDING

The Buea P&T credit union can borrow small and medium sized enterprises and the
enterprises can offer a great market to the credit union especially for the fact that the bank
has fail the small and medium sized business because of greedy lending practices and has
made the difficult for the small and medium sized firms to acquire loans. Therefore, the
credit union can exploit this opportunity by lending those small sized businesses at a
lower interest rate and more flexible repayment terms.
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4.1.4 THREATS OF BUEA P&T CORPORATIVE CREDIT UNION

The threats refer to factors that have the potential to harm an organization. The threats of
the union shall be discussed on the next paragraph

COMPETITORS

The Buea P&T credit union that is non profitable financial institution and it presents a
threat because of the need to compete with larger commercial bank and the credit union is
operating in a business environment that is dominated by commercial banks, such a
highly competitive environment and this threaten the existence of credit union and their
ability to keep offering lower fees.

Another threat analysis in credit union is the fact that Buea P&T credit union has to
changed is the fact that they are not significant or lack importance when in 2010 P&T
went international at the 2010 world conference of credit union in Las Vegas USA. Buea
P&T was the only credit union from the Fako chapter in the international meeting.

The SWOT analysis will help the credit union open their eyes and that you want to
become the best credit union. It is just to develop smart strategies, turn weaknesses into
strengths and overcome threats to seize opportunities that will make your credit union
grow and become a better one in the future.

4.2 RECOMMENDATIONS

This chapter simply elaborates on the things I think the credit union need to adjust for the
betterment of the credit union and this include;

Creating a bigger and suitable hall so that all employees can be seated and comfortable
during meetings. This is because the credit union does not have a conference hall for
general meetings and as such, during meetings some people are left standing while the
meeting is going on.
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Also, reinforcing on the security because if someone notice that the guard is not at his
post all the times and not all the cameras are working in the credit union, he/she may
target on how to attack the credit union not only during the day but at night.

The credit union should equally readjust closing time because the credit union closing
time is the same for some workers and sometimes come to the credit union frustrated
because it is lock which causes them to go home disappointed and this also put daily
collection at risk because when they come when the credit union is closed, they are
forced to take the money to their houses which is risky.

The credit union should also provide counterfeit detector pen to daily collectors. This is
because some clients give them counterfeit money and when is brought at the end of the
day by the daily collectors to save, the cashier rejects the counterfeit and the lost goes to
the daily collector if he/she can’t identified who she took it from.

4.3 CONCLUSION

Coming to the end of my work, I can safely say that the three months internship spent at
the Buea P&T credit union has been valuable to me. It has allowed me to focus on the
reality of the field and above all acquire knowledge from complete different field of
work.

I also think the work experience has made me attained skills in many domains also
acquisition and I’ve learned that having knowledge is one thing practicing is another one.
I also achieved qualification which will help me build up my Curriculum Vitae (CV)

I equally achieved certain responsibilities during the internship period as in been

independent and trying to get information as often as possible irrespective of people, their
behaviors and what they say. I was eager to learn more in the business world.

I was also trusted by most of my workers which made me fit to work in the business
world because I had to meet people with different culture, religion, tempers, and mood
but had to deal with it in the best way I could.
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REFERENCES

 Maslow,A.H(1943)Theory of Motivation
 OHADA-Uniform Act March 24, 2000
 CamCCUL Ltd , 1963-1993
 Buea P&T Corporative Credit Union Ltd(BPTCCUL)
 Website of P&T www.bptccul.com