| dc.description.abstract | Savings and Credit Co-operative Societies, though
relatively a recent development in Kenya, have become one of
the important financial institutions in the country's Economic
and Financial systems. Having realized their socio-economic
potential, the government periodically issues and reviews
policies that guide their operations.
This researcher's major objectives were to find out the
attitudes of members toward one such policy, the Loan Policy of
the Savings and Credit Co-operative Societies in Kenya, and secondly to find out any aspects in the Loan Policy that members
were dissatisfied with. The rationale being that, the members'
attitudes were one of the important predictors of the
government's attainment of its goals and objectives of
mobilizing local finance capital for development using these
societies.
The study was carried, out in CHUNA Savings and Credit
Co-operative Society, Ltd. of the University of Nairobi. A
sample of one hundred respondents was used, and data for the
study was collected by a Questionnaire using semantic
differential scales.
From the analyses of thie data that was analysed and
presented by means of mean scores, percentages and semantic
differential profiles, the findings of the study indicate that
members' attitudes toward the Loan Policy varied from positive
to negative depending on the particular policy guideline in
consideration.
Dissatisfaction was expressed, among other aspects, with
respect to the policy's restrictive controls on the Maximum
Loan and Maximum Emergency Loan amounts, the Emergency Loan
Repayment period, Restriction of membership to one society and
the Withdrawal requirements.
Further, from the analyses, the findings indicated that
there was no significant variation in the members' attitudes
toward the Loan Policy caused by the differences in their
salaries, or the number of years one had been a member of the
society. Hence it was concluded that attitudes held and
satisfaction or dissatisfaction with the Loan Policy were not
depedent on members' salary levels or period of membership.
Finally on the basis of the findings it was recommended
that government involvement in running the affairs of the
societies be restricted to particular areas where it is
absolutely essential. This would allow autonomy and democracy
to prevail in the day-to-day operations of the societies
followed by formation of an institutional framework that can
successfully reconcile the moblization of funds for development
while at the same time optimally upholding the values of the members | en |
