“Co-competition” is a term to describe cooperative competition in the marketplace. Quite frankly, SOBACCUL believes that credit unions make Cameroon a stronger country as a result of a more robust financial services marketplace. If it were not for the Credit Union Movement, for-profit financial organizations would remain unchecked in the marketplace and consumers and businesses would ultimately pay higher prices for products and services because of this for-profit orientation. SOBACCUL has a strong commitment to and a vested interest in the continued health and vibrancy of the credit union movement both nationally and internationally.
Strategic Planning, and the subsequent strategic business plan, provides direction and measurable goals for the credit union. A strategic business plan is simply a formalized road map that describes and details how the credit union will execute its chosen strategy. A business plan spells out where an organization is going over the next several years and what is important to the organization’s success. Bottom line, what gets measured gets done, and the annual business plan spells that out.