ASSESSMENT OF THE PERFORMANCE OF SOME SELECTED COOPERATIVE THRIFT AND CREDIT SOCIETIES (CTCS) IN OWERRI ZONE OF IMO STATE

Abstract

The extent to which CTCS have assisted people  to obtain loan in Owerri zone of Imo State have not been adequately analyzed, particularly among its members. This study assess performance of CTCS in savings mobilization, number of loan applications made, amount applied, approved/disbursed to the members and extent of loan repayment. Data were collected mainly through questionnaire while descriptive statistics (frequencies and percentages) were applied in the analysis which ascertained specific objectives. Two hypotheses were formulated to guide the study and were tested using one way analysis of variance (ANOVA) of multiple regression statistics. The study showed that a volume of N5,271,050 were saved between 2008 and 2012 while 402 number of loan applications were made which amounted to the value of N5,735,500. It was also found that N5,150,000 amount of loans were approved/disbursed to the members which only N5,115,000 were repaid. With the exception of sex and educational qualification which were not significant, the regression result shows that age, marital status and occupation were identified to have significant relationship with the loan disbursed to the members. The main recommendation of this study is that: CTCS should ensure strong daily savings mobilization system, emphasis should be on full loan repayment and available funds should go into investment purposes.