Abstract

This research investigates the effect of Cooperative Thrift and Credit Societies on the living standards of university workers in Aniocha Local Government Area, Delta state. The study employs a comprehensive approach, combining quantitative and qualitative analyses to explore the socio-economic impact of participation in these cooperative societies. Through surveys, interviews, and data analysis, the research reveals that Cooperative Thrift and Credit Societies play a vital role in enhancing the financial stability of university workers. The researcher adopted a descriptive survey research and questionnaire was constructed using close-ended Likert scale. Questionnaires were administered to members of the five selected universities population of 110 and a sample size of 86 was calculated using Taro Yamani formula. The data obtained was analyzed using frequency, percentage, and mean. Also regression model analysis was used to test the hypothesis. Members benefit from regular savings, access to credit facilities, and a supportive community network, leading to improved economic resilience. Furthermore, the cooperative initiatives contribute to a positive social impact by fostering a sense of collaboration and mutual support among members. This study not only highlights the financial advantages of participation but also underscores the broader socio-cultural benefits of belonging to such cooperative networks. The study discovered that university workers who are members of thrift and credit society have higher savings and access to credit. Also, membership in thrift and credit societies help university workers to access housings loans, which improve the living standard. Thrift and credit societies help university workers to cope with financial emergencies, such as illness and accidents. The research concludes with recommendations aimed at strengthening and expanding Cooperative Thrift and Credit Societies, ensuring their continued positive impact on the living standards of university workers in Aniocha Local Government Area, Delta state.