Effect of Cooperative Values on the Financial Performance of Thrift and Credit Society in Educational and Tertiary Institutions in Kaduna State, Nigeria

Abstract

The study investigated the effect of cooperative values on financial performance of Thrift and Credit Societies in Educational and Tertiary Institutions in Kaduna State, Nigeria. The study adopted descriptive survey research design. The population of the study comprised of 10,393 management committee of educational and tertiary institution thrift and credit societies in Kaduna State. The sample size consisted of 385 drawn from the population using Taro Yamane formula. Census sampling technique was used because the population size was manageable. The study was guided by two research questions and two research hypotheses. Data was collected from the respondents with the aid of a structured questionnaire. The instrument was validated by experts from department of Cooperative Economics and Management from Faculty of Business Administration in Nnamdi Azikiwe University, Awka, Anambra State Nigeria. The reliability of the instrument was determined using Cronbach’s Alpha with a reliability coefficient of 0.97. Data collected were analysed using descriptive statistics. Arithmetic mean and standard deviation were used to answer research questions while the hypotheses were tested using t-test with the aid of statistical package for social sciences (SPSS, version 26). The results obtained shows that at F=71.19 and P=0.000<0.05, cooperative values have significant influence on the financial performance of thrift and credit societies in educational and tertiary institutions in Kaduna State. The study concluded that cooperative core values have positive relationship with financial performance of thrift and credit societies in Kaduna State. The study recommended that cooperative society should constantly educate her members as regard to the cooperative core values through periodical seminar and conferences, these will their trust and confidence in the society management teams the society at large.

Keywords: Cooperative, Core, Values, Society, Financial, Performance, Thrift, Credit, Equity, Asset, Educational, Institutions.