AN EXAMINATION OF THE ROLE COOPERATIVE THRIFT AND CREDIT SOCIETIES TO THE DEVELOPMENT OF URBAN AREA
ATTENTION:
BEFORE YOU READ THE CHAPTER ONE OF THE
PROJECT TOPIC BELOW, PLEASE READ THE INFORMATION BELOW.THANK YOU!
INFORMATION:
YOU CAN GET THE COMPLETE PROJECT OF THE
TOPIC BELOW. THE FULL PROJECT COSTS N5,000 ONLY. THE FULL INFORMATION ON HOW TO
PAY AND GET THE COMPLETE PROJECT IS AT THE BOTTOM OF THIS PAGE. OR YOU CAN
CALL: 08068231953, 08168759420
AN
EXAMINATION OF THE ROLE COOPERATIVE THRIFT AND CREDIT SOCIETIES TO THE
DEVELOPMENT OF URBAN AREA
CHAPTER ONE
INTRODUCTION
The thrift
and Credit cooperative has been formed with intention of improving the standard
of living. The thrift and credit society started in Germany under the
leadership of Fredrick Ra’ffeisen in the year 1818 who is now regarded as the
father of modern cooperative thrift and credit society.
Germany has
always been referred to as the cradle of credit cooperative. At that time, the
economic condition of Germany was so deplorable and the peasantry and artisans
fiet crushed under the heavy weight of indebtedness. Famine was a common
phenomenon used as order of the day. The Jews ruled over the market and the
poor labourers and farmers had no way out, except to buy articles of their need
from them and sales their product to them. The merchants were money lenders
changing very high rate of interest for the credit they gave and offered
ridiculously prices for the produce they purchased. With the hopeless life of
the peasantry, Raiffeisen emerged to help them out of their indebtedness and
poverty years, therefore thought out plan for cooperative societies.
Before the
advert of modern cooperative society the thrift and credit society serve at
urban area, the traditional mutual system is been called and addressed by
different name by various communities who practice it inform of traditional
form of saving.
The Hausa
call it “Adashe†“Bashi†in Nupe “Asusu in Ogogo etoto in Ibibio etc.â€
The traditional systems of cooperative leaders of the society are elected
purely on the agreement of the members, while in modern cooperative.
Cooperative
at large, the management committees are elected democratically, and any person
contesting for any post must have the question of some vital requirement such
as payment of entrance fees, share deposit etc and the member must be voted for
any post in the society.
Cooperative
thrift and credit society are mainly found among the urban areas, low-income
earners, government employees etc. and a good number splitter around is the
urban area as well.
BACKGROUND
OF THE STUDY
Thrift and
credit cooperative society like other sphere of life has it own problems. It is
generally believed that any organization irrespective of its size has problems,
if not identified and corrective measures applied is bound to hit the rock,.
Cooperative thrift and credit is not left out this philosophy identifying and
laying these problems is the primary aim of the write up of this project.
The project
is aim at highlighting the obstacle responsible for the show growth of
organization, it is also an attempt to highlight the aim and objectives of the
organization, it is living up to expectation?
The problems
are being highlighted analyzed and possible steps to be taken to alleviate the
problems.
HISTORICAL
BACKGROUND OF THE AREA
Modern
cooperative thrift and credit has been in existence in early 20’s 2004 to be
precisely in orphanage mother multi purpose society. Before then, it was
traditionally practiced, low-income earner, petty traders peasant farmers etc.
contribute money weekly or monthly, they rotates one after the other which
serves as urban development area for its members, and then people have
difficulties to secure loan for its members from any financial institution due
to the fact that mostly are low income earners, urban areas etc where they have
no collateral for security while they normally requested before giving people
loan.
But with the
establishment of orphanage mother multipurpose in that area, which was
established to help people of limited means, which find it difficult to save
and secure loan to better their socio economic, encourage, saving and also
provide other services to the communities at reasonable rate of interest
through application of self help and mutual help which is one of the guiding
idea of cooperative.
But most of
the people stated with drawing their membership, because they assumed that they
only want to dupe and run away with the little money learned due to the fact
that the time of establishment there was no emphasis on expansion and diversification
of cooperatives thrift and credit in their development plan and there was
nobody to educated and enlighten the people about, their aim and objective. So
people where complaining that they cannot meet up their needs as a result of
non provision of loan for as a whole, lack of proper book keeping and auditing
which is due to unskilled personnel, lack of adequate capital and lastly there
is also dishonesty and competition among committee members and government which
lead to the collapsed of the thrift and credit society.
STATEMENT OF
THE STUDY
Cooperative
thrift and credit ensure rapid socio – economic development of urban areas
and the community at large
But due to
the fact that there wasn’t any serious emphasis on expansion and
diversification of cooperative movement in their development plan. Therefore it
resulted to low participation of people in cooperative society.
Secondly, it
also seems there wasn’t serious encouragement from government to ensure that
the people were enlighten and educated in other to joint the cooperative
society.
RESEARCH
QUESTION
To carry out
this research the following question are put forward to guide the study:
What are the impacts of cooperative thrift
and credit has toward the transformation and development of urban area.
How can the cooperative thrift and credit
be restructured so as to give the societies at large, maximum benefit?
What are the problems facing cooperatives
thrift and credit societies in the urban areas.
OBJECTIVE OF THE STUDY
The
following are the objective of the study.
To find out the impact, cooperative thrift
and credit has towards, transformation and development of urban area:
In order to know and identify the problem
associated with cooperative thrift and credit societies.
To suggest ways and means through which
cooperative thrift and credit movement can be restructure, so as to give
maximum benefit to its members.
SIGNIFICANCE OF THE STUDY
This study
is significant in the sense through this study the orphanage will be able to
know the way to improve their community theyÂ
will also know the importance of becoming a member of cooperative
society, it will enhance a better well being of them and their family.
To the
policy makers, this study will encourage members to save; objective of the
cooperatives should be thrift, saving definitively increases the poll for
further lending, loans must be given for.
To
management the nature as credit management makes this types of cooperatives one
of the most cumbersome. Every credit cooperative must have at least the
following offices and positions to make for an effective credit control.
OPERATIONAL DEFINITION OF TERMINOLOGIES
Cooperatives:
Can be defined as the autonomous association of person united voluntary to meet
their economic social and cultural needs and aspiration through jointly owned
democratically controlled enterprises.
Cooperative
thrift and Credit: Are specialist cooperative that provide loan to its members
and other credit facilities with low interest rate and also encourage saving among
members.
Members: Are
owners of registered society who has the right and privileged as registered
members of cooperative thrift and credit
Fredrick
Raiffeisen: The name of a German who came out with the idea of modern
cooperation thrift and credit society in Germany in 19th century, he is
regarded as the father of modern cooperative thrift and credit society.
Modern
Cooperative: This means the present cooperative movement which is formatly
recognized in a more clearly ways and have the legal backing up the cooperative
law, and the individual society by law which makes it look more admirable than
the traditional cooperative.
Adashe,
Dashi, Asusu and Etoto: The local term used in referring to cooperative thrift
and credit among the Hausa’s Nupe, Igbo’s, and Yoruba.
Management:
Committee are democratically elected officials of a registered cooperative
society and they are responsible for running day to day activities of the
society. So in most cases success and failure of the society is hinged on them.
Share:
Amount of the money to be contributed by all members of a cooperatives society
for the sake of the society business activities in some instance. The society
sales each share at the sum of one Naira and every members is expected to buy
not more than 25 share in the society.
Deposit: Is
the total amount of saving collected from the members of the society and
sometime from non-member of the society, which is to be deposited in the banks.
Government
Cooperative Staff: They are government agents who link the government and the cooperative
society in the urban area. These staffs are empowered to inspect the society
books of account and give the society members a sound cooperative education.
PLEASE,
print the following instructions and information if you will like to order/buy
our complete written material(s).
HOW
TO RECEIVE PROJECT MATERIAL(S)
After
paying the appropriate amount (#5,000) into our bank Account below, send the
following information to
08068231953
or 08168759420
(1)
Your project topics
(2)
Email Address
(3)
Payment Name
(4)
Teller Number
We
will send your material(s) after we receive bank alert
BANK
ACCOUNTS
Account
Name: AMUTAH DANIEL CHUKWUDI
Account
Number: 0046579864
Bank:
GTBank.
OR
Account
Name: AMUTAH DANIEL CHUKWUDI
Account
Number: 2023350498
Bank:
UBA.
FOR
MORE INFORMATION, CALL:
08068231953
or 08168759420
AFFILIATE LINKS:
myeasyproject.com.ng
easyprojectmaterials.com
easyprojectmaterials.net.ng
easyprojectsmaterials.net.ng
easyprojectsmaterial.net.ng
easyprojectmaterial.net.ng
projectmaterials.com.ng
googleprojectsng.blogspot.com
myprojectsng.blogspot.com.ng
https://projectmaterialsng.blogspot.com.ng/
Comments
Post a Comment