Assessing the contribution of Savings and Credit Cooperative Societies (SACCOS) on improving people’s standards of living in Kebisoni sub-county Rukungiri district: a case study of Kebisoni SACCO Limited (Ltd)
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The purpose of the study was to assess the contribution of savings and credit cooperative societies SACCO on improving people‟s standards of living in kebisoni sub-county rukungiri district The study was based on four specific objectives, that is, to characterize the social economic activities involved in by SACCO members, to assess the effect of SACCOs on the welfare of its members in Kebisoni Sub-county. to understand the factors that influence the amount of loans that SACCO members get and lastly to examine the challenges faced by SACCO members and what should be done to solve those challenges. To achieve these objectives, the study adopted a cross sectional, correlational and survey research designs. Data were collected through questionnaires, face to face interviews and observation methods. Data were analyzed by use of statistical methods, (descriptive statistics, Correlations and regressions analyses). The study results revealed that; that the major socialeconomic activities involved in by SACCO members are; banana production, cattle production and crop production. Paired sample T-test results showed that SACCOs have a significant effect on the income level of its members, land owned by members, housing of its members, number of heads of cattle owned by its members and number of vehicles owned by its members at 5% significance levels since the p-values for these variables before joining SACCOs and the income levels after joining the SACCOs are less than 0.05. Regression results revealed that gender, marital status, household size, total expenditure, land and cattle owned before joining SACCO all significantly influence the amount of loans received (p<0.01). The major challenge faced by SACCO members in Kebisoni Sub County in Rukungiri District is poverty which affects saving (63%). Last but not least, the major solution to the challenge faced by SACCO members in Kebisoni Sub County in Rukungiri District is starting up other small business (47%). Recommendations were that Savings and credit cooperatives should diversify, from the common bond of occupation alone and include the bonds of ordinary community membership to increase their outreach and penetration.