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The study systematically examined the benefits of cooperative thrift and loan to staff of federal establishment in Enugu State using Power Holding Company Nigeria as a case study. The study population covered al the member of Power Holding Company Nigeria of CTLS, and data was collected from both primary and secondary sources.  This was divided into five chapter. The chapter one contained the introductory part of the project. Literature review, research design, data presenting and analysis, conclusion and recommendation made up other four chapters. The researcher made use of both primary and secondary data, structured questionnaires were the methods used for the collection of primary data, and secondary data were also collected from textbook and various research materials.  The researcher used selected randomly. But using Taro Yamani, a sample size of 73 was used.  1 In chapter four table and Chi-square was used as a statistical tool for analyzing the data.    The data was treated in table and percentages. In which he recommended that Encouraging saving habit: a widely used here is money saved is money earned it gives credence to inculcating the habit of saving as it ensures that the knowledge above saving is wide spread amongst members so that they can on their own save rather than wasting on their salaries and loan that are forth coming and when they are with much interest that robs them off and the thrift and loan societies to employees of business organization how their well being financially and otherwise can be ensure and sustained over a long period.  Finally the study revealed the process of credit administration as well as loan application and its assessment were detailed and that the cooperative societies encourages savings as money saved is also money earned.





Cover page                                                            i

Title page                                                              ii

Approval page                                                        iii

Dedication                                                             iv

Acknowledgment                                                    v

Abstract                                                                 vi

Table of Contents                                                    viii


  • Background of the study        1
  • Statement of the Problem        3
  • Objectives of the study        5
  • Research Questions        6
  • Research Hypothesis 7
  • Significance of the study        8
  • Limitations of the Study 9
  • Definition of Terms        11




2.1  History of Cooperatives                                    14

2.2  Credit Co-operative                                           22

2.3  Sources of Cooperative Finance                          28

2.4  The Process of Credit a Infrastructure                  37

2.5  Terms of Credit                                               43

2.6  Loan Recovery                                                45



3.1  Research Design                                              46

3.2  Area of Study                                                  47

3.3  Population of study                                           48

3.4  Sampling and Sampling Procedure                48

3.5  Method of Data Collection                                  49

3.6  Research Instrument                                        49

3.7  Validity and Reliability of the Instrument              51

3.8  Method of Data Analysis                                    52



4.1  Presentation and Analysis of Data                        54

4.2  Test of Hypothesis                                            62

4.3  Summary of Result                                           69



5.1  Summary of Findings                                        70

5.2  Conclusion                                                      71

5.3  Recommendations                                            72











Co-operative movement is a product of the different socio-economic conditions brought about by industrialization and a better forming economy in many of the advanced counties as well as the developing countries. Co-operatives have been used for effective mobilization of labour, combination of agro industrial development program with the aim of promoting growth in all communities. It was found out that while a few CTLS have made sounding success base on the level of their capitalization and investment capital, others are just clutch of life.

All co-operative societies consisted by the CTLS in the reason for the proliferation of co-operative thrift and loan society in that of the indigenous loan clubs (Isusu) has existed in the region prior to official introduction of the co-operative movement. Also there was a pressing need among the population to improve on their condition of living since the origin.

Co-operative thrift and loan societies has become most subscribed and successful co-operative type in Enugu. The establishment can of course promote means of motivating their workers but it hardly achieves its own when compared to co-operation. Authoritatively, it can be called a bridge that would close the gap created by the harsh economic condition the numerous wants and needs which are enormous and their esteem needs as described by Abraham Maslow in his hierarchy of wants.

Co-operative cocoa societies started in the western region of Nigeria. The main reason why co-operative societies formed at that time was to help organize cocoa farmer of eastern Nigeria. In 1944, the beneficial of co-operation are not limited to the employees alone. The organization sees a change in the attitude of their workers the rate at which people change jobs would reduce and vis-versa. With this borne in mind, any organization that impacted the economic advancement of its work force should bear it in mind that the obstruction co-operations as most employers see it as movement without considering the gains they stand to obtain.


The felt need for a means of cushioning the effect of inflation, harsh sip and a host of their problems experienced in our nation and other nation that are faced with similar problems are indeed which is most cases have not addressed the problem at hand but has only helped in alleviating a minimal amount which was enriched the pocket of those preferring them. The government on its part has not taken time to research into ways of making a head way as all the remedies out do not make any remarkable impact on those concerned.

No matter the amount one receives at the end of the month, if it is not properly administered with a certain level of frugality in order to cover the wants, the problem at hand is still not solved. Credit mobilized through the savings of members it has been observed that companies or organizations where credit co-operatives are established are faced with problems namely:

  • No registration of the society in the ministry of co-operatives.
  • A default in the payment of salaries
  • A conflict of interest between the co-operatives and establishment management
  • The problem of first or greater locality to who at a particular point in time.
  • If there has been a remarkable growth rays since its inception and development in their areas of operation.

A recent balance sheet compared to the previous ones during its formative years would be a certain for evaluation of performance.

  • Check out for the problems being encountered by these CTLS in their daily operations.
  • Finally make recommendations and suggestions solution to the problems being encountered by members intending members and society too. Not forgetting to show the charges and windfalls that these credit thrift and loan societies can create to all concerned.


The objectives of this study are as follows:

  1. To determine the benefit of staff of federal establishment to derive from co-operative society in Enugu.
  2. To determine the benefit inherent in joining a credit co-operative society.
  3. To know the growth rate of co-operative thrift and loan in Enugu
  4. To know the activities performed by co-operative thrift and loan society in carrying out their activities to members.
  5. To make reasonable recommendations on the problems observed.


  1. What are the benefits staffs of federal establishments derive from co-operative society in Enugu?
  2. How can we determine the benefits inherent in joining a credit co-operative society?
  3. How do you rate the growth rate of co-operative thrift and loan in Enugu state?
  4. To what extent do you know the activities performed by co-operative thrift and loan society in carrying out their activities to members?


Hypothesis one

Ho:  co-operative is essential to the staff of federal government.

H1:  Co-operative is not essential to the staff of federal government.

Ho:  There is no benefits inherent in joining a credit co-operative society.

H1:  There is benefit inherent in joining a credit co-operative society.




This study would aid the formation of more viable cooperatives as the benefits derived from them go a long way in relieving a lot of burdens. The doubt often associated with the success and longevity of cooperatives amongst their rivals in the loan and credit business would be cleared to show that credit thrift and loans societies have all it takes when administered professionally to last long. He successful and diversity their cooperation’s into other forms of cooperative.

Lastly this study of finding will be of educational importance to various universities, polytechnics and students of management related courses, economics and cooperatives departments.    


The student doing this research work would limit this study to the benefits of credits thrifts and loans societies to business organization and study of selected organization PRODA ENUGU.

The researcher intends finding out the gains on both side of the coin in respect to credit societies, the management of this credit societies which includes their policies, decisions procedures, equipments and materials credit administration and some factors militating against it would also be found out. The problem being encountered the strategies adopted in the face of any problem and their exploitation of all necessary machinery in place would be found into two.


There is no system devoid of one form of chaos problems or the other in the course of this study, the researcher was faced with the following problems.  


  • Non Availability of Data: Data to be used for this study were not available in one place as most establishment would not readily supply information concerning their operations. Some were not even registered in the cooperative department of the ministry of commerce, mines and tourism. This shows a very base trend because its invariably mean they don’t run their credit societies professionally or they are not genuine co-operative.
  • Finance: The scarcity of essentially commodity almost starved the project since there should be a regular visit to the society, the cooperative department of the ministry and officers of the credit cooperatives used as case studies. Moreover there was need for the researcher to meet workers for a one on one discussion and this cost money.
  • Time: The tight schedule of lecturers and a short semester chocked the time of the student. It is indeed difficult to combine research work with academics such as the numerous terms papers assignments and seminars.


For an easy understanding of the word in this study a clarity of purpose, elimination of misunderstanding, the following definition of terms are necessary:

  • Thrift: The Oxford English Dictionary  defines thrift as the economical management of resources, the habit of savings constantly.
  • Credit: David W. Peark defines credit as financing directly or indirectly, the expenditure of others against future repayment such lending is direct when a lending society, bank etc extends an over draft facility to a customer or member who then sued it. It is indirect when a trader producer or consumer shop supplies goals on credit.
  • Loan Register: Is a book used in recording particulars of loan given out to individual or members. This book is particular to cooperatives that deal on finance. It could be a thick cover note.
  • Loan Bond: Enyeribe Onuoha posits that it is a loan agreement that is completed when a loan is issued, it must be signed by the borrower ad his two sureties and their assignments signatures have to be witnessed by a fourth person. The loan bond becomes an exhibit when a dispute arise.   
  • Management: Breach (1962) posts that putting management into broad general terms is concerned with seeing a job that gets done and guiding the operations that are going on in the enterprise. Igwe C.C. Bob (1993) states objectives by directly human activities in the production of goods and services utilizing the land, factory, offices, machinery and other facilities at the disposal of the enterprise.
  • Enterprise: Harrison (1974) says enterprise is an economic system in which individuals are free, singly or collectively to own capital and undertake economic activity, within a framework of social legislation designed to protect the interest of the individuals.


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