THE RELEVANCE OF EMPLOYEES SAVINGS AND CREDIT CO-OPERATIVES IN THE PERIOD OF ECONOMIC MELTDOWN, IMO STATE, NIGERIA

Abstract

The study is on the Relevance of Employees Savings and Credit Co-operatives in the period of Economic Meltdown, Imo State. The main objective of the study, is to examine the Relevance of Employees, Savings and Credit Co-operatives in the period of economic Meltdown, Imo State, Nigeria. The Sample size randomly selected for the study is, one hundred and twenty-six made up of twelve ministries/ Institutions/ Parastatals, six private enterprises and one hundred and eight employees. Two hypotheses were formulated and tested. Related literature based on conceptual, theoretical and empirical was reviewed. Findings include the following; effects of economic meltdown on the employees and benefits of employees Savings and Credit Co-operatives in the period of economic meltdown. The researchers’ recommendations include: encouragement of formation of employees Savings and Credit co-operatives amongst employees; prompt remittance of employees deductions by employers; regular promotion of employees, which enhance their financial status, earnings and savings.