This paper was aimed at assessing the impact of corporate governance on the performance of credit unions in Cameroon with reference to credit unions under the Cameroon Cooperative Credit Union League (CamCCUL) in the Bamenda Chapter. Through a survey design, the paper used a sample of 350 respondents selected from 35 credit unions under the CamCCUL Network. The indicators of corporate governance considered in the paper Board role and composition, transparency and disclosure, auditing and compliance and risk management while financial performance as the main dependent variable will be denoted by with indicators being profitability, loan portfolio and liquidity. The Principal Component Analysis (PCA) was employed to obtain the composite values for each of these indicators. Through the use of multiple regression analysis, the results showed that board role and composition has positive and significant effect on loan portfolio and profitability of credit unions but effect on the liquidity and overall financial performance was insignificant. Meanwhile, it was found that transparency and disclosure, auditing and compliance as well as risk management had positive and significant effects on all aspects of financial performance (Loan Portfolio, Liquidity and profitability) as well as overall financial performance of credit unions. On the basis of these, the paper recommends amongst others that the microfinance stakeholders in Cameroon especially the Ministry of Finance and COBAC in particular should review the microfinance regulations to ensure that these corporate governance indicators. Also, the board, staff and committee members should take a written engagement at the time their services are employed in the union. Moreover, credit unions should employ the services of risk analysts to evaluate the weaknesses that can either cause or increase risks in the system.