ASSESSMENT OF CO-OPERATIVE FINANCING IN RURAL DEVELOPMENT (A CASE STUDY OF JERE LOCAL GOVERNMENT AREA)

This study assessed the impact of co-operative financing in rural development, using Jere Local Government Area as a case study. Objectives of the study are to examine the relevance of co-operative financing in promoting financial stability among people living in rural areas; to explore how the community members promote co-operative financing services without support from donors or government in rural areas; and to explore the challenges of co-operative financing faced by people living in rural areas of Jere Local Government Area. Cross-sectional research design was adapted to this study, which is a type of research design that collects data from many different individuals at a single point of time. e people of the Jere Local Government Area made up the population of this study. However, the study only focused on the people of Alau, Dusuman, Gongilong, and Tuba which were reported by to have being the areas that are rural in Jere LGA. Multi-stage sampling technique was employed to select 100 respondents. Data were collected through a household survey using a structured questionnaire as the instrument for data collection. A total of 100 questionnaires were administered on the respondents and 96 were retrieved immediately after filling in the required information. Findings of the study revealed that affordable credit and increased saving opportunities are perceived as the primary benefit of cooperative financing. The cooperative financing can help in reducing individual financial risk in Jere Local Government Area. Furthermore, this study revealed that many people have benefited from cooperative financing initiatives in Jere Local Government Area by reducing dependency on external financial institutions. Finally, the study recommended that the chairman of Jere Local Government should provide financial incentives such as low interest loans to newly established cooperatives to support their initial growth and stability. So also, people living in rural areas of Jere Local Government Area should engage actively in cooperative societies to promote the development of their communities.