The Impact Of Thrift And Credit Cooperative Society On Workers Welfare And Productivity In An Organization (A Case Study Of Nbc Thrift And Credit Cooperative Society Owerri)

Project and Seminar Material for Cooperative Economics and Management (CEM)

The Impact Of Thrift And Credit Cooperative Society On Workers Welfare And Productivity In An Organization (A Case Study Of Nbc Thrift And Credit Cooperative Society Owerri)


There has been a statement, observation and agreement on the fact that co-operative societies are formed mainly for the betterment of the economic and social conditions of the members whether they operate on isolation or individual.

Infact, the strength and weakness of cooperative societies Nigeria can be accessed through their ability to maintain stable prices of essential commodities and service are made available in the right market at the right time in order to meet up with the right demand level of consumer at a stable or reasonable price in the state, they have to be provided with adequate strong facilities, raw material and enough credit facilities (Funds from financial institutions).

The state government should help in educating the member of co-operative societies, since some of them are illiterate members, they can be reached through the use of media organizations or through their co-operative societies informing them the importance of co-operative and the need to improve production and marketing of goods and services.

Table Of Contents

Preliminary Page(s)

  • Title page
  • Approval page
  • Dedication
  • Acknowledgment
  • Abstract
  • Table of content

Chapter One

1.0 Introduction

  • 1.1 Background of the study
  • 1.2 Statement of the problem
  • 1.3 Objective of the study
  • 1.4 Research question
  • 1.5 Significance of the study
  • 1.6 Scope of the study
  • 1.7 Limitation of the study
  • 1.8 Definition of terms

Chapter Two

2.0 Literature Review

  • 2.1 Introduction
  • 2.2 Meaning and scope of cooperative
  • 2.3 Impact of cooperative in promoting workers welfare
  • 2.4 Cooperative and human resources empowerment
  • 2.5 The concept of welfare management in cooperative
  • 2.5 Challenges of credit allocation to cooperative members

Chapter Three

3.0 Research Design and Methodology

  • 3.1 Introduction
  • 3.2 Research Design
  • 3.3 Sources / method of data collection
  • 3.4 Population and sample size
  • 3.5 Sample technique
  • 3.6 Validity and reliability of measurement instrument
  • 3.7 Method of data analysis

Chapter Four

4.0 Presentation and Analysis of Data

  • 4.1 Introduction
  • 4.2 Presentation of data
  • 4.3 Analysis of data
  • 4.4 Interpretation of results

Chapter Five

5.0 Summary, Conclusion and Recommendations

  • 5.1 Introduction
  • 5.2 Summary of findings
  • 5.3 Conclusion
  • 5.4 Recommendations
  • References
  • appendix

Chapter One

1.0 Introduction

Cooperative society is a voluntary association of persons with a common need who come together and pulls their resources together to form a capital base necessary for their members. It has been long being a human characteristics to form association to provide essential commodities shelters employment and other forms of mutual support, mutual benefits derivable by families and individuals working together at harvest or other agreed times control be seen in many communities around the world being a way to recognize manpower to achieve a particular purpose for example building houses, digging wells or other communal facilities.

Membership is open to the resident of a particular locality and it is society that one agree to join nobody persuade anybody to join, this is so because it is the society that will help to achieve people common needs.
Individuals always like to associate in as much as association will bring about improvement in their economic activities or such association as may served as a stepping stone in achieving of once desire of started goals. In cooperative individuals usually come in with their personal objective and such objective and such objective must be give to that of organization. Experience shows that cooperative organization are formed by lower and middle income earners with an aim of uplifting their standard of living.

As many people have said that the formation of cooperative is for poor people not for rich, it is true statement because no comfortable person will like to join association of pulling resources together. It is only for those who have common needs that can join this association in order to work collectively to achieve such needs which would not have been easily achieved by individuals.

1.1 Background Of The Study

The idea of forming a thrift and credit cooperative society to help its members to obtain credit and other monetary incentives is a step towards human capital empowerment and assistance. Nigeria Bottling Company Owerri thrift and credit cooperative society has been a cooperative with the passion of assisting its members to alleviate poverty and improve their standard of living through credit grants. The cooperative has been in existence for over 15 years and has operated with a strong success story. It was formed by a group staff in the Nigeria Bottling Company Owerri plant to assist its members. The idea is a big vision of poverty alleviation. The effect of poverty eradication program should be recommended and organizing the members into self help natures like the thrift and credit cooperative society, as a way of looking forward which is in consonance with government policies and programs is a welcome development.

Today, this organization has been noted a having become one of the fastest and largest growing cooperative society that has continued to empower its members to alleviate their suffering. Therefore, this research would examine the activities of this people was carefully and point out the impacts they have made in helping members who are workers of the company to improve their perception about work and propel them to give in their best thereby yielding greater productivity in the company.

1.2 Statement Of The Problem

In cooperative, due to their size and ownership structure member suffered a lot of financial especially that of collateral. However, the formation of thrift and credit society as a solution would help the members to save the small amount and out of that poor fund and economic depression loans are made available to members at a low rate of interest.

The research is however, guide towards finding out the extent the thrift and credit society in business organization would help its members and them of welfare and job productivity. Few of the problems this research would tend to attend to are;

  1. The problems of members not getting job satisfaction because of poverty level in the nation which the cooperative society has been trying to alleviate.
  2. The problem of not getting job security and appropriate welfare from employers and many more.

1.3 Objective Of The Study

The objectives of the study is to know the aims of the establishing the thrift and credit society Nigeria Bottling Company Owerri, their activities at a general level and to ascertain the benefits derived by members. The objectives involves the following.

  1. To ascertain the kind of service which the organization renders to its members.
  2. To identify the problem of the co-operative thrift and credit society and make recommendation.
  3. To determine the extent of benefits those members of the cooperative derived from it.
  4. Also to find out how the welfare of workers and their productivity has been improve through the activities of cooperatives.

1.4 Research Question

Some research questions that have been formulated include;

  1. How will you access the management team of your cooperative society?
  2. How do you see the performance of the cooperative society generally?
  3. What are the aims and objective of establishing the cooperative society?
  4. Do you think we are really benefiting from forming society?
  5. If answer is yes what are those benefits?
  6. Have you obtained loan from your society?
  7. If answer is yes, how long does it take from the time of application to the loan received?
  8. How would you rate the treatment received from the officials before obtaining the loan?
  9. Do you think that welfare of the members is obviously being taken care of ?
  10. What are the reasons for joining the society?

1.5 Significance Of The Study

First and foremost, this study will be immerse value and benefit to all members of other thrift and credit cooperative societies because the will learn from the case study cooperative society. It will enable the member to have the basic principle on their finger tip and as business practice, provides loan from members and to enable them tacked their financial problem in the organization.

  1. The study will help to show the level of impact the cooperative society has made on members welfare.
  2. It will also show if the improved welfare has impact on job productivity
  3. The study will also x-ray the activities of the cooperative society and the challenges they face.

1.6 The Scope Of The Study

the study is centered finding the impact of thrift and credit cooperative society on workers welfare and productivity in an organization with a special reference to Nigeria Bottling Company thrift and credit cooperative society Owerri. The study will show their activities and programmes towards improving workers and members welfare.

1.7 Limitation Of The Study

A study at this cannot be conducted with out encountering some constraints or problems which posed as limitation to this study. In the use of this study the researcher cannot carry out work extensively due to the following reasons problems.

Time Constraint:

The allotted time for this study was very short and as a result the researcher has to share the time for this research with that of lecturers.

Financial Constraint:

This research involves a lot of money and as a result it was carried out at the time of fuel scarcity. So the money involved in transportation was too much and date to the increase the researcher considered it as a problem.

Data / Information Constraint:

The non-cooperative attitude of some members staff and even management of this society made it very difficult for the researcher to collect the necessary information for this at the same time the belief that the researcher will expose same vital secret of this society made it impossible for the researcher to obtained all the needed information for this study.

1.8 Definition Of Terms

Cooperative Effect:

This is the benefit which one derives from joining a cooperative society. This cooperative effect could be known or observed by comparing the members present economic and social condition with what it was before he joined his cooperative society.


This defines as a share of the net surplus of a registered society divided among its members in proportion to the paid up share capital held by them.

Member Bonus:

This means share of the net surplus of a registered society divided among its members in proportion the volumn of business done by them with the society from which the surplus of the society was got.

Thrift Savings:

This is mandatory contribution made by cooperative members from their own private savings. Through thrift, savings, activities cooperatives mobilize the small savings of members thereby contributed to their well being.


Is the governing body of a registered society to whom the management of its affairs is entrusted.

Chapter Five

5.0 Summary, Conclusion And Recommendations

5.1 Introduction

This is usually the final thing in a research work. It should include the summary of the findings. The finding must be complete and presented in a way that they could lead the reader naturally provide an opportunity for the researcher to discuss possible remedies for the problem which were raised in her investigation.

5.2 Summary Of Findings

The summary of this study can be made as following the major qualification for obtaining loans from the society membership. Members can borrow up to any amount of ban applicants. The issue of collateral securities is some thrift and credit society based on members trust and confidence on each other which is the basic ingredient for any cooperative return. But in the cooperatives, the loans are being deducted on the day a contributor received his / her contribution. Therefore, the payment of loan is never a stressful barriers or hindrance on the members. The adequate capital based on contribution to the growth and progress of any society. It means that adequate capital is very necessary in the life of a cooperative society for it take care of its day to day activities. Also the members of offers reliable cooperative society timber dealers is benefiting from the society both social and economically.
Moreover, adequate fund is also need to meet their objective very well. The cooperative has seen that the welfare of the members are properly being taken care of and at the same time inducted the habit of saving with the society.

5.3 Conclusion

This project focused attention on the activities of the offer reliable, based on the finding of the study. My conclusion is that businessman and woman need to save bonus and at the same time need to invest their saving.

Besides, the businessman / woman will only achieve this when they join the thrift and credit co-operative society in their area of business which provides the social and economic security for the business enhances industrial harmony and improves productivity.

Again, the co-operative socities where the society and members are being taking care of which urge them to participate fully in the affairs of welfare programmers of the of the organization competitive. Hence, co-operative will be of immense beneficiary harmony and industrial peace and among members when properly coordinate. It will also go along way to alleviate constraints in the society and entire country.

Finally, the students project writing is indispensable and advantages are numerous. Therefore, students take it as a striking opportunity to acquire knowledge and develop method of writing textbook.

5.4 Recommendations

The researcher study will be incomplete if no recommendations were made based on the finding of this study. Thus, the researcher recommends the following;

  1. The society should always ensure that it has adequate profit that made at the end of every financial year. It can advice some better means of getting revenue and also consolidate on the ones it has been using.
  2. The society can adopt a bit of commercial revenue in it operation such as opening up supermarket or co-operative shops, this could be selling to both members and non-members. The profit made there in could go along way to increase the amount of money that the society generates
  3. It is very importance for the society to supervise and monitor the loans given out to the members to prevent miss application of loans, besides loans should also be granted on time of availability so that members can take immediate use of the money when they needed it most. This is because loan given late when the business opportunity has gone would inevitably by misapplied.
  4. The cooperative, should publishes its accounts yearly so that the government will know the true position of the society and assess it properly since it had been established that the officials have great impact on the growth and progress of the society.
  5. Finally, government should come to their aids financially, economically and socially in supporting the society of them to enhance and ever initiate progress of seminar nature and objectives. And if those facts are putting into consideration and effectively, implemented by the authorities concerned, the problem be considered as a thing of the past.

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