Impact of savings and credit cooperatives on teachers welfare. A study of meru mwalimu sacco members, kenya

Abstract

SACCOs have increased and keep growing in numbers in most countries and most individual and groups have embraced this mode of savings. Teachers as well have joined SACCOs which support their needs of savings and money borrowing. This research was carried out to establish the impact that these SACCOs have on the teachers, a case of Meru Mwalimu SACCO. The study had four objectives; to establish the positive or negative effects that the Meru Mwalimu SACCO has had on its members, to establish the ways which the Meru Mwalimu SACCO use to educate the members and the impact there after, to establish the saving behavior of the members before and after joining the SACCO To achieve this, the study randomly selected fifty participants from the Meru Mwalimu SACCO members and collected data by use of questionnaires which was computed, analyzed and presented in a report form The findings established that the SACCO had positively impacted on the members trough social and economical factors. More so, the education received by the members enhanced their knowledge and the saving culture of the members had improved greatly.