Sunday Ofordile Ogbu, Usman A. Usman


This paper investigated cooperative thrift and loan society as a tool for rural development in Oji River local government area of Enugu State, Nigeria. The paper was guided by three specific objectives, which were in line with three research questions. Data were sourced from primary and secondary sources. The primary sources are comprised of structured questionnaire and field interactions with the respondents, while secondary data are generated from textbooks, journals, internet publications etc. The sample size is 92, which was generated from the population of 120, using Krejeie and Morgan (1970) formula. Data were analysed using frequency counts and percentages, while hypotheses were tested using chi-square (X2) inferential statistics. The findings revealed amongst others that the societies serve as a tool for rural development through the thrift savings culture which help members to develop. It again, served as a tool for provision of credit and loans for development activities. The paper also found poor management of the cooperative societies, non-repayment of loans and dishonesty among members as major challenges they encounter. The paper recommended the need for improved management of the cooperative societies, strict supervision of loan taken to enable members to become more responsible in paying back loans and there is need for adequate funding of the cooperative societies.

Full Text:



Aja, C, O. (1991). Economic of Rural Community Development with Particular Reference to the Role of Women. Benign a paper presented to the Assistant Supervisor Credit (ASC) at the NACB Training Centre Kaduna.

Andrew, S. (2017). The concept of rural development. Retrieved from (http//www.agrinn 05/07/18

Adekunle, B. (2018). How thrift and credit societies can help Africa promote entrepreneurship. Retrieved from (http//,.html) 15/07/18

Arthur, E. (2016). Problems and prospects of cooperative societies on Nigeria. Retrieved from (http// 20/07/18

Adewale, B. (2013). Problems and prospects of Nigerian cooperative society. Retrieved from (http// 20/07/18

Bello-Imam, I, B. (1986). Local government area. An agency of rural development in Nigeria” Development outlook, vol. 1, No. 6 pg 14

Berko, S. Y. (1994). Self-Help organization and rural development. Enugu Nigeria, Computer Edge publishers.

Dogawara, A, B. (2010). The role of cooperative society in economic development. Retrieved from (http// 25/07/18

Eze, C. (2015). The role of cooperative society in rural development. Retrieved from (http// 25/07/18

Falusi, C.O. (2018). Commercial banks and thrift and credit cooperative societies in Lagos. Retrieved from (http// 15/07/18

Harpen, H. (2015). Function of thrift and credit cooperative societies. Retrieved from (http// 15/07/18

Igbokwe, J. (2017). An examination of the role cooperative thrift and credit societies play in the development of the rural area. Retrieved from (http//www.Project 20/07/18

Krejeie, H. & Morgan, A. (1970) in Ogbu, S. (2010). Practical approach to research project writing, Sholly Printing Press, Kaduna.

Nwandu, B. (2017). The impact of cooperative thrift and loan society on workers. Retrieved from (http// 15/07/18

Njuba, A. (2017). Problems of financial management in cooperative societies and remedial measures. Retrieved from (http// 25/07/18

Nadeau, E.G. (2017). The cooperative society. How to make a better world. Retrieved from (http// 30/06/18

Okorie, J. (2017). Impact of cooperative thrift and loan society on economic development. Retrieved from http// 30/06/18

Okorie, O. (2017). A study on the benefits of cooperative thrift and loan society. Retrieved from (http// 10/07/18

Olusola, J. (2016). The role of cooperative societies in economic development. Retrieved from (http// 25/07/18

Onyemenam, C.T. (2017). Effective Administration of credit in a cooperative business enterprise. Retrieved from (http// 20/07/18

Okeke, E.U. (2001). Fundamentals of agricultural marketing, Effurun Delta State, Nigeria, stable publishers Ltd.

Okoye, B.E. (2017). The benefits of cooperative thrift and loan society in our institution of higher learning. Retrieved from (http// 30/06/18

Okoye, B.E. (2016). The importance of cooperative thrift and loan society in our society. Retrieved from (http// 05/07/18

Satiu, R. (2016). What do you mean by rural development. Retrieved from (http// 03/07/18

Uthman, S. (2017). What is a cooperative thrift and loan society and its benefits. Retrieved from (http// 23/06/18

Upsells, S. (2016). Meaning of credit unions and thrift societies. Retrieved from (http// 30/06/18


  • There are currently no refbacks.