EXAMINE THE IMPACT OF COOPERATIVE SOCIETY ON THE ECONOMIC DEVELOPMENT OF RURAL COMMUNITIES. (A CASE STUDY OF EJIGBO KAROWOSAYE COOPERATIVE FINANCE AND CREDIT UNION LTD EJIBGO OSUN STATE.)
TABLE OF CONTENT
Title page i
Table of content v
1.0 Introduction 1
1.1 statement of the proble 3
1.2 objective of the study 3
1.3 Research work is normomed to the course study
in references to ejigbo osun state 4
1.4 Limitation of study 5
1.5 Significance of the study 6
1.6 Research question 7
1.7 Defination of terms 8
2.0 literature review 10
2.1 Meaning of cooperative 10
2.2 Principle of cooperative 15
2.3 Types of cooperative societies 18
2.4 Aims and function of cooperative society 20
2.5 The importance of cooperative societies in a community 21
2.6 Problems encountered by cooperative societies 22
2.7 Anvantages and disvantage of cooperative societies 24
2.8 Comarision of cooperative societies with other business
2.9 profit and surplus 26
3.0 introduction 28
3.1 research design 28
3.2 source of data collection 29
4.0 introduction 33
4.1 data presentation 33
4.2 data analysis 33
4.3 table presentation 35
4.4 testing of hypothesis 38
4.0 summary of findings 46
5.1 summary of finding 46
5.2 conclution 47
5.3 recommendation 48
5.4 suggestions for furthers studies 49
An alternative form of marketing organization for entrepreneurs and trading company in which has played a major role in most of local areas in Nigeria involving Ejigbo and it environment in the co-operative societies.
Co-operative societies have played a vita role on the economic development and upliftment of people in rural communities due to the fact that society regarded it as heir economics saviors. co-operative has a basic survival value; the is because it constitutes a vital aspect of both individual and group behaviour. The individual co-operative with each other as a means of survival and security
More so, individual group relationship on only be achieved through working together otherwise referred to as the spirit of togetherness.
In a general sense, co-operation is not new phenomenon, parents and children cooperate, tenants and lord co-operation, teacher and pupils cooperate in communities and states in other to achieve their aims, objectives, using mission and aspiration
In a specific sense, co-operative society refers to association of people coming together for their economic boost and social interest of their members.
Acquiring of shares in viable going concerns
Establishment of viable projects, for instance, setting up of industries, catering services and consumers shop aims towards bringing grassroots people closer to the government. according to international labour in a book titled co-operative management and administration published in gebeva, 1968.
“The modern co-operative institution originate among the common people and still remains a mechanization for defense, betterment and emancipation to combat the condition brought about by he evolution of the market economy industrial reduction in the early nineteenth century”
1.1 STATEMENT OF THE PROBLEM
This project is designed to highlight the impact of co-operative societies on economic development of rural community.
The main purpose of this research study is to investigate he need for a formation of co-operative societies as only source of securing economic development of a rural community with a particular reference to Ejigbo Karowoseye co-operative finance and credit union limited, ejigbo.
Henceforth, one cannot but mention the factor that have hampered their firm achieving their main objectives rendering the needful services to its members.
Therefore, the problems are stated as follows:
i. Evaluating the impacts of education provided for members
ii. Difficulty in collecting members dues
iii. Poor methods of retrieving loans back
1.2 objective of the study
One of the most important objectives of any organization is community in business in business in this regard an adequate reaction of four to be learnt on member for necessary of production purpose be made available from time to time. This research work also has the following objective
1. to clarify likely problems facing cooperative securities
2. to commend the possible solution to the problem associated to cooperative
3. to serve as guide for other cooperative in implementation of their policies and programmes
4. to improve the proper administration or management in formation implementation and execution of strategies needed
1.3 The research work is narnomed to the course study in references to Ejigbo co-operative finances and credit union ltd Ejigbo Osun state
This emphasis on a relevant concept in relationship to the case study.
1.4 LIMITATION OF THE STUDY
The main limitation of the study included the following
1. Lack of fund: - lack of fund can easily affect any cooperative societies upgrading and affect their good and service. Money is very essential in any cooperative structure it help the groups to growth move forwards.
2. Lack of banks in cooperative societies:-This simply tells the distance to the particular cooperative societies every cooperative societies should locate in place where individual member will able to attend. Locate in place where individual member will able to attend. When it is far. It can cause lowest term out of the number. It can calls cost the entire member lost of transportation
3. lack of adequate materials:-
Material is very essential in any co-operative society.
Every cooperative organization must set up many materials for individual member. Material in essence is one of key roles that make cooperative to wax stronger. Material is one of concept in cooperative societies it helps the member to access to their upbringing.
So in any organization like this there should more adequate of materials.
SIGNIFICANCE OF THE STUDY
One of the significance of the study is that it will bring benefit is to union and management; both the management and the union often disagree on what the employees wants. This research worth will help them to find out what types of welfare services are needed by the workers.
Again, this study is capable of encouraging worker in ejigbo knowledge co-operative finances and credit union limited to improve their level of productivity if they were adequate staff management policy, this will allow for creating an organization which place each member of staff in a coverable situation conducive for further development at the end of this study will serve as a guide to he management of not only Ejigbo Karawoseye operative finance and credit union but to all cooperative as well as other public and private enterprises as a whole. Co-operative, generally speaking stated as a means of bottling against the economic exploitation of the poor, masses and to that people came together in order to improve their economic position within the society.
One school of though said co-operative is unscientific the school sited the case of a trader who would not sell goods due to her inability to hold enough.
Another school of though believe it is scientific in view of the facts that it arises as a result of poverty, deprivation, penury, frustration, unemployment, etc
1.6 RESEARCH QUESTIONS
1. What is cooperative society?
2. Does it’s cooperative society have the impact of economic?
3. Does the cooperative society have impact on social development?
4. Does economic development wake profitable to the cooperative society?
5. What is economic development?
These are the following research hypothesis namely:
Ha = Null Hypothesis
Hi = Atternative Hypothesis
1. Hypothesis one
Ho there is no significance relationship between the cooperative society and rural community.
Hi there is no significance relationship between the cooperative society and economic development of the community
2. H2 : cooperative society has positive impact on economic development
Ho2: cooperative society has negative impaction.
1.7 DEFINITION OF TERMS
IMPACT : strong impression of effect or role.
COOPERATION: working together for a common purpose
COOPERATIVE: the will to cooperate. As in cooperative society which is an association of person usually with limited means which voluntarily done together to achieve a common goal
SOCIETY: a group of person lives within a specific environment
ECONOMIC DEVELOPMENT: comprise of a group of people living in a remote place. It also include people at grassroots level of government within a local government
VOLUNTARY: an act of doing things willingly without being forced. It implies that any association that springs from compulsion as against a free will cannot be genuinely said to be cooperative in the sense of the term.
ROCHALDE EQUITABLE PIONEERS: an association of modern cooperative society in Manchester England.
RESERVED FUND:- this is an indivisible fund and no member is entitled to chain a specified share in it except with the written permission of registrar, it shall not be utilized in the business of the society..