Greener Journal of Agricultural Sciences Vol. 3 (5), pp. 384-390, May 2013.
ISSN: 2276-7770 © 2011 Greener Journals
Manuscript Number: 031913531
Socio-Economic Determinants of Savings in Cooperatives by Farmers of Selected Agricultural Group Lending Schemes in Anambra State,Nigeria
Department of Agriculture, Federal College of Education (Tech) Umunze, Anambra State, Nigeria.
Email: jiokecyril @ yahoo. com
examined how the socio-economic factors of farmer-members of
cooperative in agricultural group lending scheme influence
their abilities to make financial savings with their
cooperatives. The study was conducted in Anambra State,
Nigeria. Data were collected from a total of 296
farmer-members of cooperative societies randomly selected
from National Programme for Food Security (NPFS) and Rural
Finance Institution Building Programme (RUFIN) agricultural
group lending schemes purposively selected for the study.
Ten selected farmers,’ socio-economic factors were regressed
on deposit mobilized with the cooperatives by the farmers.
Frequency distribution, percentages and means were
descriptive statistics used in analyzing data. The lead
function from regression analysis showed that 43.08 percent
of the total variation in deposit mobilization was explained
by the 10 socio-economic variables included in the model.
The significant variables affecting deposit mobilization in
cooperatives by farmers in the group leading scheme were
value of Assets, off farm income, age of household head,
level of farm diversification and total value of farmer’s
loan. More so, the study found that the financial savings
mobilized by farmer-members within their cooperatives were
N1595 and made usually for
purpose of securing loans.
Keywords: Socio-economic factors, Savings, Farmers, Cooperatives, Group lending.