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THE EFFECTS OF CREDIT UNION ACTIVITIES ON ITS MEMBERS
Abstract:
The main objective of the study is to find out the financial challenges facing members of the Credit Unions and the efforts being made to improve the quality of life of members. The study examined the financial benefits and facilities available to members. One Hundred and Fifty (150) questionnaires were administered to selected members of the three (3) Credit Unions in the Sunyani Municipality. Statistical Package for Social Sciences (SPSS) was used for the analysis. From the research, it was found out that members of the Credit Unions faced certain financial challenges like educational expenses, land and rent advances, working capital and business inputs. It was also revealed that the Credit Union annual interest rates were a little higher than those charged by the banks. In spite of this, the Credit Unions had had tremendous positive effects on the living standards of the members. This was affirmed by the fact that members had access to loans for meeting their financial challenges which they would not have had readily from the Traditional Banks without collateral security. Management staff of the Credit Unions was found to lack the requisite professional competence and expertise for managing the scheme. The study recommends that interest rates of Credit Unions should be reduced and the competence of management staff of the scheme should be upgraded in risk and investment management to make the scheme more viable and sustainable.
Title page- – – – – – – – – i
Approval page – – – – – – – -ii
Dedication – – – – – – – – -iii
Acknowledgement – – – – – – – -iv
Abstract – – – – – – – – – -v
Table of content – – – – – – – -vi
CHAPTER ONE
INTRODUCTION – – – – – – – -1
1.0 Background of the study – – – – -1
1.1 Statement of the problem – – – – -5
1.2 Purpose of the study – – – – – -6
1.3 Significance of the study – – – – -8
1.4 Research questions – – – – – -9
1.5 Scope of the study – – – – – – -10
CHAPTER TWO
LITERATURE REVIEW – – – – – – -11
CHAPTER THREE
Research methodology – – – – – – -39
Design of study – – – – – – – -40
CHAPTER FOUR
Presentation, analysis and interpretation of data – -48
CHAPTER FIVE
Summary of findings – – – – – – -60
Conclusion – – – – – – – – -61
Recommendations – – – – – – – -62
Suggestions for further research – – – – -64
References – – – – – – – – -65
Appendix I – – – – — – – – -68
Questionnaire. – – – – – – – -69
