The effect of thrift and credit society on enhancing members’ living standard cannot be overemphasized. This has prompt the researcher to carryout a research work on the subject matter, the research started by introducing the subject matter in chapter one, background of the study, objectives of the study, research question, statement of the problem the significance of the study was also highlighted in this chapter. The researcher reviewed the work of different authors in the chapter two, the concept of cooperative, meaning of thrift and credit, the effect of cooperative and credit society, sources of fund, the problems they faced and the summary review is also discussed. The researcher discussed the method of gathering data, the data gathered were analyzed in chapter four. Lastly, the researcher draw a summary of findings, conclusion in chapter five and made some recommendations among which the researcher recommended that the problems of embezzlement, misappropriation of resource dishonesty and other negative factors associated with the management of cooperative especially in the area understudy should be checked through supervision by the cooperative department.


Title page - - - - - - - - - - i

Declaration - - - - - - - - - - ii

Approval page - - - - - - - - - iii

Dedication - - - - - - - - - - iv

Acknowledgement - - - - - - - - v

Abstract - - - - - - - - - - vi

Table of Contents - - - - - - - - vii


1.1 Background of the study - - - - - - 1

1.2 Statement of the problem - - - - - - 3

1.3 Objectives of the study - - - - - - - 3

1.4 Research question - - - - - - - 4

1.5 Significance of the study - - - - - - 4

1.6 Scope of the study - - - - - - - 5

1.7 Definition of Terms - - - - - - - 6


2.1 Introduction - - - - - - - - 8

2.2 Concept of Cooperative - - - - - - 9

2.3 Meaning of thrift and credit society - - - - - 12

2.4 Effect of cooperative thrift and credit society - - - 13

2.5 Source of fund of cooperative thrift and credit society - 15

2.6 Effect of cooperative thrift and credit society on Enhancing 

members living standard - - - - - - 19

2.7 Method and processes of business activities of thrift 

and credit cooperatives - - - - - - - 20

2.8 Problems of thrift and credit - - - - - - 22

2.9 Summary of review literature - - - - - - 24


3.1 Introduction - - - - - - - - 25

3.2 Research design - - - - - - - - 25

3.3 Area of study - - - - - - - - 26

3.4 Population of the study - - - - - - - 27

3.5 Sample and sampling procedure - - - - - 27

3.6 Research instrument - - - - - - - 28

3.6.1 Validity - - - - - - - - - 29

3.6.2 Reliability - - - - - - - - 29

3.7 Procedure for the administration of the instrument - - 30

3.8 Method of data presentation and statistics analysis - - 31

3.9 Limitation of the study - - - - - - - 31


4.1 Introduction - - - - - - - - 33

4.2 Respondents Bio Data - - - - - - - 33

4.3 Answering research question - - - - - - 35

4.4 Summary of findings - - - - - - - 41

4.5 Discussion of findings - - - - - - - 41


5.1 Introduction - - - - - - - - 43

5.2 Summary - - - - - - - - - 43

5.3 Conclusion - - - - - - - - - 45

5.4 Recommendations - - - - - - - 46

5.5 Suggestion for Further Researches - - - - - 47

References - - - - - - - - - 49

Appendix 1 - - - - - - - - - 50

Appendix 2 - - - - - - - - - 51




This research work focuses on how cooperative thrift and credit societies influence or enhance member’s living standard. Unlike other cooperative society, thrift and credit societies are formed with the aims of improving the standard living of their members. Thrift and credit societies started from Germany by Fredrick Wilhelm Raifferson in the year 1818, Raifferson is therefore regarded as the father of modern cooperative thrift and credit society.

Thrift and credit society are mostly found in any form of society, community. The popularly known among the rural dweller, even before the mergence of modern cooperatives it serves as a rural bank before the coming of the modern thrift and credit society. The traditional mutual system has been called and addressed by different names, by various communities who practice it inform of traditional saving’s.

However, cooperative societies adopted in virtually all countries of the world for practical all aspect of human endeavour’s modern cooperative organization have penetrated into all the facets of human activities and used of human activities and also to achieve both social and economic goals.

In Nigeria, thrift and credit societies started in the year 1940, by the Roman Catholic teachers for salary earners and primarily to take care of their old age and retirement. Members make regular thrift saving during the period they are under employment and other saving for special purpose could also be made by an individuals if they wished, such saving could be for children’s schools fees, vacation leave etc.

The societies also grant loans to members and such loans are repaid on monthly installmental basis while regular savings continues. No members of such societies may withdraw while still under employment. Usually the society’s money deposited with the post office saving banks.

However, in modern thrift and credit society contributions are not necessarily the same, minimum monthly saving are fixed, and members who share contributions as a regular monthly savings, some are removed directly from-their salaries.


The primary aim of any cooperative society is to meet economic, social and cultural needs of members if well operated and managed.

Despite the prospect and significance of thrift and credit cooperative societies, some people are still reluctant in joining or participating in thrift and credit societies. It has unfortunately been discovered that most thrift and credit cooperatives societies are not very effective in the business activities consequently they end up not achieving their goals. As a result of this, the study will try to find out the factor that militates against the enhancement of living standard of its members. Furthermore, in most cases, the members saving are embezzled or misappropriated. It is in the light of this that it is doubtful whether thrift and credit cooperative societies actually perform their roles, that is why this topic is conducted to examine their effect so that the situation can be addressed before it get out or hand.


The study is guided by the following objectives:

i. To examine the effect of thrift an credit society in enhancing the living standard of hotel worker;

ii. To examine the method and processes of the business activities in Hamdala Hotel thrift and credit society;

iii. To ascertain the problems military against the smooth operation of the different form of cooperative ventures establishes to help workers.


To guide this study the research questions have been put forward and the following are stated as research questions.

i. Does Hamdala thrift and credit society help in the enhancement of the living standard of hotel workers?

ii. What are the method and processes of the business activities in Hamdala thrift and credit society?

iii. What are the problems militating against the smooth operation of the different form of cooperative ventures establishes to help workers?


This study is designed to help cooperative thrift and credit societies over problems related to finance and management of cooperative organizations.

The research also intended to find possible solution to the above mentioned problems by giving recommendation on how to prevent the future occurrence. The research aimed at finding the relevant contribution of cooperative society toward the economic development of Nigeria. The study area is Hamdala Hotel workers thrift and credit society, will be used to ascertain all the basic facts needed.

At the end of this research the management and the members of Hamdala hotel cooperative society can consider the present problems facing the society. Scholars’ researchers and incoming student will benefits from these research works because it will serve as reference material to them with a view towards enhancing their knowledge.


The scope of the study will be limited to the effect of thrift and credit cooperative society on enhancing members’ living standard in the Hotel industry in general and Hamdala Hotel in particular. As a result, the product findings will be limited only to Hamdala hotel limited in Kaduna, generalization can only be made of similar hotels with the same characteristics as the subject matter.


Byelaw = It means registered law of the society before any member assumes membership.

Cooperative = Here it means an association or persons who voluntarily come together in order to achieve a targeted economic, social and cultural goals.

Living Standard = Here it can be seen as the raising of social and economic welfare or members so as to be self reliance.

Management Committee = This are the governing body of the society where they are elected during the annual general meeting to managed the affairs of the society on behalf of members.

Members = The bonafide members, registered members of Hamdala Hotel thrift and credit cooperative society limited.

Thrift and Credit Society = Is a cooperative organization that provide its members with convenient and secured means of saving money and obtained credit at a reasonable rate of interest without collateral, but deduction from salary on monthly basis.

Enhancement = Here is the improvement of quality, value of member of Hamdala hotel cooperative

Hotel = This is the establishment which provide accommodation and meals mostly for travelers and tourists.

Workers = Group of people that work in the Hamdala Hotel Kaduna.

Hamdala Hotel = Is one of the international hotel which are solely owned by new Nigerian development company, providing accommodation and meals to the people.



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