EFFECT OF ACCESS TO FINANCIAL SERVICES ON THE WELFARE OF MEMBERS OF WOMEN COOPERATIVE SOCIETIES IN ANAMBRA STATE, NIGERIA.

Abstract

Increasing women’s access to financial services is important because financial inclusion is generally considered a key enabler of economic growth and poverty reduction. This study is on effect of access to financial services on the welfare of members of women cooperative societies in Anambra state, Nigeria. It specifically, determined the effect of access to financial services on the welfare of members of women cooperative societies in Anambra state. It adopted a descriptive survey research design that aimed at determining the relationship between the independent variable and dependent variable in a population. The population of this study was made up of 2997 members of women cooperative societies in Anambra state. A sample of 341 was determined for the study using Krejcie & Morgan table for determining sample size of a known population. A structured questionnaire was administered to 341 respondents and analysis was done based on the 297 duly completed and returned questionnaire. The data collected using the questionnaire were analysed using descriptive statistics like frequency, mean and standard deviation; and also inferential statistics such as regression analysis and Z-test statistics. All analyses were conducted using E-View version 7. Findings show that access to financial services has a significant positive effect on the welfare of members of women cooperative societies. The study recommends that seminars and workshops be organized for educating women on various programmes designed to enhance access to finance. The study has contributed to knowledge by narrowing the implications of financial inclusion on welfare of members of women cooperative in Anambra state.