THE EFFECT OF THRIFT AND CREDIT SOCIETIES ON ENHANCING MEMBERS LIVING STANDARDS: A STUDY OF SELECTED CREDIT COOPERATIVE SOCIETIES IN ENUGU METROPOLIS, ENUGU STSTE, NIGERIA

This study examined the effect of thrift and credit societies on enhancing members living standards in Enugu metropolis, the work had four specific objectives which were to; examine the effect of credit services on the enhancement of living standards of thrift and credit members in Enugu Metropolis, Enugu State, explore the effect of thrift savings on the enhancement of living standards of thrift and credit members in Enugu Metropolis, Enugu State, assess the effect of better bargaining power on the enhancement of living standards of thrift and credit members in Enugu Metropolis, Enugu State, and relate the effect of social cohesion among members on the enhancement of living standards of thrift and credit members in Enugu Metropolis, Enugu State. 152 respondents took part in the survey exercise, while tables, percentages and frequencies were employed in the analysis, ANOVA test tool was employed in the test of hypotheses. The result shows that the societies enhanced living standards through; credit services, thrift savings, better bargaining power and social cohesion among members, the researcher recommends that thrift and credit cooperative societies should be supported with more funding, soft loans from financial institutions will help a lot. Secondly, thrift savings should be encouraged more among the members, donor agencies can as well help the societies with funds to augment thrift savings, thirdly, the societies should look for other things they can source for members through their collective bargaining power, they can enjoy other services through that, and members should build relationships among themselves more as it helps them in so many ways.