1.1 BACKGROUND OF THE STUDY
Co-operative movement is a product of the different socio-economic conditions brought about by industrialization and a better forming economy in many of the advanced counties as well as the developing countries. Co-operatives have been used for effective mobilization of labour, combination of agro industrial development program with the aim of promoting growth in all communities. It was found out that while a few CTLS have made sounding success base on the level of their capitalization and investment capital, others are just clutch of life.
All co-operative societies consisted by the CTLS in the reason for the proliferation of co-operative thrift and loan society in that of the indigenous loan clubs (Isusu) has existed in the region prior to official introduction of the co-operative movement. Also there was a pressing need among the population to improve on their condition of living since the origin.
Co-operative thrift and loan societies has become most subscribed and successful co-operative type in Enugu. The establishment can of course promote means of motivating their workers but it hardly achieves its own when compared to co-operation. Authoritatively, it can be called a bridge that would close the gap created by the harsh economic condition the numerous wants and needs which are enormous and their esteem needs as described by Abraham Maslow in his hierarchy of wants.
Co-operative cocoa societies started in the western region of Nigeria. The main reason why co-operative societies formed at that time was to help organize cocoa farmer of eastern Nigeria. In 1944, the beneficial of co-operation are not limited to the employees alone. The organization sees a change in the attitude of their workers the rate at which people change jobs would reduce and vis-versa. With this borne in mind, any organization that impacted the economic advancement of its work force should bear it in mind that the obstruction co-operations as most employers see it as movement without considering the gains they stand to obtain.
1.2 STATEMENT OF THE PROBLEM
The felt need for a means of cushioning the effect of inflation, harsh sip and a host of their problems experienced in our nation and other nation that are faced with similar problems are indeed which is most cases have not addressed the problem at hand but has only helped in alleviating a minimal amount which was enriched the pocket of those preferring them. The government on its part has not taken time to research into ways of making a head way as all the remedies out do not make any remarkable impact on those concerned.
No matter the amount one receives at the end of the month, if it is not properly administered with a certain level of frugality in order to cover the wants, the problem at hand is still not solved. Credit mobilized through the savings of members it has been observed that companies or organizations where credit co-operatives are established are faced with problems namely:
A recent balance sheet compared to the previous ones during its formative years would be a certain for evaluation of performance.
1.3 OBJECTIVES OF THE STUDY
The objectives of this study are as follows:
1.4 RESEARCH QUESTIONS
1.5 RESEARCH HYPOTHESIS
Hypothesis one
Ho: co-operative is essential to the staff of federal government.
H1: Co-operative is not essential to the staff of federal government.
Ho: There is no benefits inherent in joining a credit co-operative society.
H1: There is benefit inherent in joining a credit co-operative society.
1.6 SIGNIFICANCE OF THE STUDY
This study would aid the formation of more viable cooperatives as the benefits derived from them go a long way in relieving a lot of burdens. The doubt often associated with the success and longevity of cooperatives amongst their rivals in the loan and credit business would be cleared to show that credit thrift and loans societies have all it takes when administered professionally to last long. He successful and diversity their cooperation’s into other forms of cooperative.
Lastly this study of finding will be of educational importance to various universities, polytechnics and students of management related courses, economics and cooperatives departments.
1.7 SCOPE OF THE STUDY
The student doing this research work would limit this study to the benefits of credits thrifts and loans societies to business organization and study of selected organization PRODA ENUGU.
The researcher intends finding out the gains on both side of the coin in respect to credit societies, the management of this credit societies which includes their policies, decisions procedures, equipments and materials credit administration and some factors militating against it would also be found out. The problem being encountered the strategies adopted in the face of any problem and their exploitation of all necessary machinery in place would be found into two.
1.8 LIMITATION OF THE STUDY
There is no system devoid of one form of chaos problems or the other in the course of this study, the researcher was faced with the following problems.
1.9 DEFINITION OF TERMS
For an easy understanding of the word in this study a clarity of purpose, elimination of misunderstanding, the following definition of terms are necessary: