26/07/2019
PEARL THRIFT AND CREDIT COOPERATIVE SOCIETY IS THE LEADING COOPERATIVE SOCIETY IN ABUJA Cooperative societies have been considered instrumental to sustainable growth and development specifically because they enable interconnected, inclusive growth and development. Micro finance services have provided access to affordable loans for small holder farmers, market women, entrepreneurs and well as small scale rural business owners in Nigeria. This analyzes the performance of savings and credit cooperative societies in provision of financial products and services to rural households in Nigeria in terms of outreach, financial sustainability, loan recovery and disbursement processes as well as impact on household incomes. ‘Spearman rank order correlation and ANOVA principle indicated that membership in cooperative society’s significantly increased household incomes’. Low interest rates as well as flexible loan recovery period ensure members access affordable loans to finance their businesses and education and provided better satisfaction to members than commercial banks and other formal financial institutions.