Impact of Credit and Thrift Cooperative Societies on Savings Mobilization and Poverty Status of Farmers in Imo State, Nigeria


Credit and thrift cooperatives

How to Cite

Ogbonna, S. I., & Kaine, A. I. N. (2023). Impact of Credit and Thrift Cooperative Societies on Savings Mobilization and Poverty Status of Farmers in Imo State, Nigeria. Journal of Agricultural Economics, Environment and Social Sciences, 9(1), 136-154. Retrieved from


The study analyzed impact of credit and thrift cooperative societies on savings mobilization and
poverty status of farmers in Imo State, Nigeria. Multistage random sampling technique was used
to select 162 members and 162 non-members of credit and thrift cooperatives from whom data
were collected with aid of structured questionnaire. Data collected were analyzed using
descriptive statistics, poverty indicators, z-test and multiple regression model. Results showed that
mean age of the members and non-members were 44 years and 45 years respectively. Mean farm
size of the members and non-members were 1.02 hectares and 0.97 hectares respectively, while,
mean annual farm income of the members and non-members were N210,124.74 and N163,412.33
respectively. Members and non-members of credit and thrift cooperatives saved annual mean
amount of N115,216.68 and N70,373.76 respectively. Result showed that farmer cooperators had
access to credit facilities (X = 3.86). Also, 33.33% of the cooperators saved on monthly basis.
Furthermore, members and non-members of credit and thrift cooperative societies had poverty
line of N13,827.35 and N12,814.08 respectively. Also had poverty incidence of 0.3146 and 0.3863
respectively, and poverty gap of 0.4143 and 0.5356 respectively. Result of Z-test analysis showed
significant mean difference in annual savings and poverty line of members and non-members at
p˂0.05. The OLS regression analysis with linear function as lead equation posted R2 value of
0.7031, and showed that number of persons in the group, value of asset, monthly subscription,
age, education level and gross income were significant determinants of savings mobilization
among credit and thrift cooperatives. There was significant difference in annual savings of
members of credit and thrift cooperatives and the non-members. Membership to credit and thrift
cooperative society reduced poverty level of farmers. It was recommended that farmers should be
encouraged and enlightened by relevant government and non-government agencies on the need
and importance of forming and belonging to credit and thrift cooperative societies.



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