Role of City Employees Credit Cooperative and Allied Services (CECCAS) on Improving the Household Income of Employees of the City Government of Cabanatuan

Abstract

Credit cooperatives were essentially created to meet the basic human desire for borrowing and saving money without taking on too much risk or giving the money lender too much authority. Members of credit cooperatives attain socio-economic benefits through its products and services and understanding its effects is vital in improving its management. Most often, cooperatives do not visualize the impact of its services to its members due to lack of proper documentation and research focusing on them. This study examines how credit cooperatives specifically the City Employees Credit Cooperative and Allied Services (CECCAS) affects the household income of its members in terms of savings deposit, building of assets, and availment of loans. Using descriptive-survey approach, the study gathered information through survey questionnaires and interview sessions from the members of CECCAS. Results of the study showed that in terms of improving household income, savings/contributions and loan products significantly benefit the members of the cooperative. Availment of loan products help the members to finance their needs and buy assets but members have yet to engage in income-generating activities. Savings on the other hand, pave the way for members to have emergency funds, buying of assets, medical and study funds. This study examined the benefits of a credit cooperative in terms of improving household income of its members, variables such as membership growth, management styles, women’s participation, and other socio-economic aspect may be applied to gain more understanding in this sector.