Effect of Cooperative Thrift and Credit Societies (CTCS) in Enhancing its Members Living Standards in Awka South LGA of Anambra State, Nigeria

The study examined the effect of cooperative thrift and credit societies (CTCS) in enhancing its members’ living standards in Awka South LGA of Anambra State, Nigeria. Three research questions and three hypotheses guided the study. The survey research design was adopted for the study. The population of the study comprised 486 members of cooperative thrift and credit societies in Awka South LGA of Anambra State. A structured questionnaire was used to collect data for the study. Inferential statistical analytical techniques were used to analyze the data collected for the study. The inferential statistics was used to make affirm or reject the hypotheses of the study. The hypotheses were analyzed individually with a simple regression model. Findings of the study indicated that credit disbursement has a significant effect on the Income level of members of thrift and credit society in Awka South LGA. The findings of the study also showed that savings mobilization has a significant effect on the Income level of members of thrift and credit society in Awka South LGA. However, result showed that financial education and training does not have a significant effect on the Income level of members of thrift and credit society in Awka South LGA. The researcher concludes that a cooperative thrift and credit society has significant effect on the living standards of its members in Awka South LGA of Anambra State. Based on these findings, the researcher recommended among others that The CTCSs in Awka South LGA should ensure that they conduct a regular credit/financial management training to educate; re-orient and sensitize the CTCS members on the importance of savings mobilization.