Assessment of the Operational Procedure of the Traditional Credit and Savings Associations in Imo State

Abstract

This study examined the operational procedure of the traditional credit and savings associations in Imo State. It is aimed at identifying the associations whose operational procedure and organizational structure make linkage with the formal credit market possible without the associations losing their distinctive relevance to the non-corporate sector. A total of 90 respondents was used for the study. Primary data was generated using two sets of questionnaires. One was administered on small-holder farmers. The other questionnaire was administered on the identified credit and savings associations. Data analysis was achieved using descriptive statistics. The identified associations can be categorized into (a) credit and savings associations (CRESAs), (b) traditional savings associations (TRASAs) and special traditional credit and savings associations (SPECRESAs). In terms of operational procedure and organizational structure, the SPECRESAs tended to be most conveniently tailored to be connected to a formal credit delivery mechanism.
Keywords: savings, credit., formal , informal, linkage


Journal of Agriculture and Food Sciences Vol. 4 (2) 2006: pp. 167-176