ROLE OF COOPERATIVE THRIFT AND CREDIT SOCIETIES IN ECONOMIC DEVELOPMENT (A STUDY OF IDEMILI SOUTH LOCAL GOVERNMENT OF ANAMBRA STATE STATE)

ABSTRACT This research work is on the topic “Role of Cooperative Thrift and Credit Societies in Economic development (A Study of Idemili South Local Government of Anambra State State). The credit and thrift cooperatives have been credited with a measure of success in financial intermediation. The objective of the study is to find out the role of cooperative thrift and credit society in economic development. The primary source will consists of research questionnaires and oral interview among conducted among the member of Idemili South Local Government of Anambra State State while the secondary sources comprised textbooks of different authors relating to the topic in question, journals and internet materials were as well be used. Data collected were analysis using simple table and percentage analysis with a brief explanation. A Survey Method was employed to elicit the required information while respondents totally one hundred (100) were randomly selected for the study, this served as the population for the study and sample of 80 were used. The study observed that there are conditions leading to thrift and credit societies in economic development. It concluded that members of thrift and credit society need to practice thrift savings to enable them pay their thrift savings regularly in the same shoes, the need for training of the members of the cooperative society. It therefore recommended that farm should be encouraged to move into farm settle where they can have access to increase farm land. The invariably will increase their productivity, income and consequently loan repayment.