EFFECT OF SAVINGS MOBILIZATION ON SOCIOECONOMIC WELFARE OF COOPERATIVE MEMBERS

The study assesses effect of savings mobilization on socineconomic welfare f cooperative memhers with particular ruference to Ulakwo Cooperative Thrifyand Credit Society, Owerri North Local Goverament Area of Imo State. The relevance of saving as an imporiant source of the supply of capital for investment has heen de on exrensivdly exploeed smemofdisession among the economs throughant the world parnculurly due to thortage of' capttal und the chronic stus of econotic stagnanon mn the devoloping countries. The study sought to achleve the following objectives to examine the socioeconomic characteristics of the respondents, to eximblish the relutionshtip between savings mobilization and socioecononic welfare of cooperuve members. to idenify the factoes infhuencing thexavings belavior of memhers of cooperatives und tin suggest wees of enhancing the saving cuture of respondents The population size of the study was 361 and the sample size was 190 The sumple twechniquss adopted was Tar Теme statiztical formulae and the data collectedeere analysis using frequency distribution table and pereentage The result of the study indicates that there strong positive relutionshup berween saving mibilizution and socioeconaic welfare of cooperative membors with members income exerting the highest influence on the saving culnre of members of the comparatives The anuу recimmends the nevd to mensife strong membership drive is desirable to attraсt more furmers and atherrural resutents into cooperative sociery in order to enable smany persons as possible have the opportanity of saving towards pмeн of huamess capital and unforeseen events