BIBLIOGRAPHY ANGLIGEN, JERRIGO S. APRIL,...
BIBLIOGRAPHY
ANGLIGEN, JERRIGO S. APRIL, 2009. Members’ Perceived Benefits from the
Services of Tubao Credit Cooperative. Benguet State University, La Trinidad, Benguet.
Adviser: Evangeline B. Cungihan, Msc.
ABSTRACT
This study was conducted to find out the following: expectations of members in
joining the cooperative and the level of fulfillment, the services that are frequently
availed by members, and the benefits received by members from the services of the
cooperative.
A survey questionnaire was used in the collection of the data and was personally
administered by the researcher. Three hundred (300) members were taken as respondents.
Members joined the cooperative with the expectations that they could avail of
loan, deposit their money in the cooperative and earn a higher interest, avail of patronage
refund, avail of mortuary aid and at the same time help other through the same, contribute
their knowledge and skills in the cooperative, participate in the management of the
cooperative, meet other people during seminars, visit other others places during field
trips, and acquire technical skill from seminars sponsored by the cooperative. The result
showed that, except for the last two expectations, all their personal expectations were
met by the cooperative. The last two were only partially met. In addition, their
expectations about the contribution of the cooperative to community development was
also partially met.
The services frequently availed by members were the following: savings and time
deposits, productive and providential loan, and the educational assistance. It was found
that the members were satisfied with the services of the cooperative, except for the
educational assistance.
The benefits derived by members were classified into social benefit and economic
benefit. Social benefit was concerned on the improvements in the personal traits of the
members. It was found that members were able to acquire additional skills and broaden
their knowledge about cooperative, and developed the value of thrift. For the economic
benefit, members had an increase in their savings, had a stable source of income from the
investment of productive loan, and some were able to buy real property from their loans.
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TABLE OF CONTENT
Page
Bibliography . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
i
Abstract . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
i
Table of Content. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
iii
INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1
Rationale of the Study . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1
Statement of the problem . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
Objectives of the Study . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
Importance of the Study . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
Delimitation of the Study. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
REVIEW OF LITERATURE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4
Cooperative Defined . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4
Objectives of Cooperative. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4
Members Benefit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6
METHODOLOGY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7
Locale and Time of the Study. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7
Respondents of the Study. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7
Data Collection . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7
Data Analysis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7
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RESULTS AND DISCUSSION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8
Profile of the Respondents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8
Reasons for Joining the Cooperative . . . . . . . . . . . . . . . . . . . . . . . . .
10
Members’ Expectation from the Cooperative . . . . . . . . . . . . . . . . . .
11
Members Participation to General Assembly
Meetings of the Cooperative. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
16
Level of Satisfaction from the Services of the
Cooperative. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
17
Benefits Received from the Cooperative. . . . . . . . . . . . . . . . . . . . . .
19
Percent Increase in Members Income. . . . . . . . . . . . . . . . . . . . . . . .
21
Estimated Increase in Total Asset of Members . . . . . . . . . . . . . . . . .
22
Perceptions About the Mortuary Fund. . . . . . . . . . . . . . . . . . . . . . . .
23
General Impression on the Services of the
Cooperative. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
24
SUMMARY, CONCLUSIONS AND RECOMMENDATIONS
Summary. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
26
Conclusions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
28
Recommendations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
30
LITERATURE CITED . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
32
APPENDIX
A. Letter to the Manager . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
33
B. Letter to the Respondents. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
34
C. Survey Questionnaire . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
35
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INTRODUCTION
Rationale of the Study
The Tubao Credit Cooperative, a well established and multi-awarded cooperative,
is an example of cooperative to emulated. It has 41 years of successful existence. It was
created based on a church mission. The Tubao Credit Cooperative (TCC) was organized
by a Belgian missionary who was assigned in Tubao as parish priest. His name is Rev. Fr.
Jaime Quatannens. He observed that people in his parish were financially hard up and
were victims of unscrupulous moneylenders. He therefore established the cooperative in
August 3, 1966 with 39 pioneer members. They started with a paid-up share capital of
P314.00. It was formally registered with the Cooperative Administration Office (CAO)
under RA 2023 and October 26,1966 under Registration N0. 001503. It survived under
the principle of self-reliance and sacrifice through God’s help. On its 10th year of
operation in 1975, the cooperative reached its first million mark with a total asset of 1.2
million pesos. On its Silver Jubilee Year in 1991 its total asset reached 37.90 million
pesos and by the end of December 2007 total assets surged to 483.93 million pesos and
total members of about 24, 600 (TCC brochure).
As stated in their brochure, the cooperative was established with a mission to
ensure survival and viability of cooperativism as a collective enterprise as well as a way
of life such that the socio-economic status of its members is alleviated. Thus TCC is an
economic vehicle, a mover, a shaker, and a shaper of financial stability of its members in
particular and the communities it serves in general. Furthermore, it is also the mission of
the cooperative to compete locally and globally with other cooperatives, in terms of
deposits, income, assets and investments. To fulfill its mission, the cooperative has the
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
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following goals: (1) to provide mainly quality service especially financial assistance to
clienteles, not profit motivated, (2) to win the trust, confidence and unity of the members
to prevent suspicion and fragmentatism through efficient and effective management, (3)
to establish linkages with cooperatives and agencies to enrich/broaden knowledge and
experience of members, and (4) to encourage savings and to forge strong partnership with
the members.
The multi-awards and growth in total asset as well as in membership is an
indication that Tubao Credit Cooperative is true to its mission and goals. This study was
conducted to find out the benefits that members have been receiving from the services
that the cooperative is giving to them.
Statement of the Problem
The study tried to answer the following questions:
1. What are the expectations of members in joining the cooperative and are these
expectations met ?
2. What are the services frequently availed by majority of the members and
why?
3. What are the benefits received by members from the services of the
cooperative?
Objectives of the Study
The study aimed to find out the following:
1. expectations of members in joining the cooperative and the level of fulfillment;
2. the services that are frequently availed by members
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
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3. the benefits received by members from the services of the cooperative classified
into
a. social benefits
b. economic benefits
Importance of the Study
The study first of all served as a training ground for the researcher to be involved
in research work. Secondly, it would provide information to other students who wish to
conduct similar studies in the future and thirdly, this study would provide necessary
information to the cooperative’s management to further improve their services inorder to
be globally competitive.
Delimitation the Study
The study only focused on identifying the benefits received by members as they
perceived it. Respondents of the study were limited to those who have been members of
the cooperative for at least five years.
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
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REVIEW OF LITERATURE
Cooperative Defined
The word cooperative is derived from the French word “cooperari”, which means
working together (Garcia and Guanzon, 2004). They also defined cooperative as a form
of business that is useful and helpful to people regardless of where they live or how they
earn their living. Besides, a cooperative seeks to realize the economic benefits for
members from services, and develop best uses of members’ resources.
A cooperative is a private business organization that is owned and controlled by
the people who used its products, supplies or services. Although cooperatives vary in
type and membership size, all were found to meet the specific objectives of members, and
are structured to adapt to members changing needs. A cooperative is formed by
individuals who coordinate among themselves to achieve vertical integration in their
business activities. Although people have been working together for mutual benefit
throughout human history, cooperative as a form of business organization began during
the industrial revolution. Cooperatives were useful for promoting the interest of the less
powerful member of society i.e. farmers, producers, workers, and consumers because
they would accomplish more collectively than they could individually ( Anonymous,
2008).
Objective of Cooperatives
Aquino (1991), stated that the primary objective of every cooperative is to
provide goods and services to its members and thus enable them to attain increased
income and savings, investment, productivity and purchasing power and promote among
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
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them equitable distribution of net surplus through maximum utilization of economic
scale, cost sharing and risk sharing without however, conducting the affairs of
cooperative for charitable purpose.
As stated by Aralar (2003), a cooperative provide maximum economic benefits to
its members, teach them the efficient ways of doing things and propagate cooperative
practices and new ideas in business and management and allows the low income groups
to increase their ownership in wealth of nation.
Fajardo and Fabian as cited by Quintos (2008), mentioned that economic growth
and development have been an elusive goal of the Philippines. The overall development
goals is for improved quality of life of every Filipino through international
competitiveness and people empowerment through cooperatives. A cooperative is a
business and a social organization that exposes the spirit of self help and working
together in pursuit of social and economic ends.
Community development through the cooperative is a way for people to work
together in order to build better community and thereby improve the welfare of all. They
organize themselves under their free will and work as a team to solve problems of their
community. The cooperative teaches members to practice wise use of money to be self-
reliant. It likewise teaches members how to save, encourages members to prosper through
their own cooperative efforts and acquire incomes, thereby fairly distributing wealth
among members. Farmers’ negative attitudes and values can be change through continues
training and education by the cooperative.
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Oyang (2006), cited that cooperatives improve quality of life of people by
developing attitudes and active participation in working together to solve economic and
social problems. The cooperative serves these functions:
1. It will serve as means of building capital and savings.
2. It undertakes effective and continuous cooperative education among members
where cooperative concepts and practices are inculcated in meaningful ways.
3. It serves as an exercise for self government to fortify leadership in the
community and delegate positive relationship with the people.
4. It will also serve as a conduit for essential services provided to members
channeled from government services to the people.
Members Benefits
Victor (2008) stated that members derive benefits from the cooperative in various
ways such as:
a. cooperative members develop the habit of thrift and savings,
b. the cooperative serves as the training ground for members in simple business
operation, democratic leadership and responsible citizenship, and
c. the cooperative offers opportunities to its member to progress by means of the
benefits it provides.
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
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METHODOLOGY
Locale and Time of the Study
The study was conducted at Tubao, La Union December 2008 to January 2009.
Respondents of the Study
The respondents of the study were the members of Tubao Credit Cooperative
who had been members for at least five years at the time of the study. Three hundred
respondents were taken at random.
Data Collection
A survey questionnaire was used to collect the data. An interview with the
manager was also conducted to validate the answers of the respondents.
Data Analysis
The data collected was tabulated and analyzed using appropriate statistical tools
The data that gathered was presented using frequency and percentage. Financial analysis
was also done to analyze the financial performance of the cooperative while relating it to
the benefits received by the members.
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
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RESULTS AND DISCUSSION
Profile of the Respondents
This section presents the background information about the respondents of the
study. The information includes their gender, age, civil status, occupation and highest
educational attainment. These are indicated in Table 1.
Gender. Out of three hundred (300) respondents one hundred forty three or 48%
were female and one hundred nine or 36% were male. Forty eight or 16% of the
respondents did not indicate their gender.
This finding signifies that the membership of Tubao Credit Cooperative were
dominated by female.
Age. The oldest age of the respondent was eighty (80) years old while the
youngest was twenty (20) years old. The age bracket 41-60 years old had the highest
number of respondents ( 110 or 37%) followed by the 20 – 40 years old with 28%. Thirty
two or 11% belonged to the 60 – 80 years old. Eighty three or 28% of them did not
indicate their ages. This finding shows that the membership of Tubao Credit Cooperative
is a mixture of young and old. The younger ones can learn from the wisdom of the older
ones and become responsible leaders in the future.
Civil status. Majority, 160 or 53% of the respondents interviewed were married,
40 (13%) were single and 25 (8%) were widowed. There were 75 or 25% who did not
respond regarding their civil status.
Occupation. The table presents that 68 or 23% of the respondent were employees
in either private or government non-business institutions, 20% were farmers, 10% were
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
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Table 1. Personal background of the respondents
CHARACTERISTICS
FREQUENCY
PERCENTAGE
(F)
(%)
Gender
Male
109
36
Female
143
48
No responds
48
16
TOTAL
300
100
Age
20 – 40
75
25
41 – 60
110
37
61 – 80
32
11
No responds
83
28
TOTAL
300
100
Civil Status
Single
40
13
Married
160
54
Widowed
25
8
No responds
75
25
TOTAL
300
100
Occupation
Farmer
60
20
Employee (government or private)
69
23
Working in businesses
30
10
Self-employed
46
16
Housewife
31
10
No responds
64
21
TOTAL
300
100
Educational Attainment
Elementary graduate
17
6
Highschool graduate
87
29
College graduate
106
35
College undergraduate/vocational
7
2
No responds
83
28
TOTAL
300
100
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
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working in businesses, 16% were self- employed involved in operating/ managing their
own line of business, and 10% were plain housewives.
This finding shows that members of Tubao Credit Cooperative had different
occupations. It further implies that the cooperative opens its membership to any person,
employed or not employed, as long as they are residing within the area of it operation.
Educational attainment. The finding shows that most of the respondents, 35%,
were college graduate. Eighty seven or 29% were high school graduate, 6% were
elementary graduate, and 2% were either college under graduate or finished vocational.
This finding signifies that most of the members are literate, able to read and write
thus, it is not difficult to educate them on the cooperative principles and philosophies.
Reasons for Joining the Cooperative
Table 2 shows the reasons of members for joining the cooperative. Majority
(78%) of the respondents said they joined the cooperative because they believe that it can
help them in their financial needs. Forty five percent (45%) believed that the cooperative
is a better institution to invest money. This is because they perceived that the cooperative
is offering a higher interest rate on savings deposit than the banks. From their share
capital, members also earn an interest every year and if the cooperative has high net
surplus the interest on share capital is also high. There were 47% who mentioned that
they wanted to support the cooperative in its endeavor by contributing their knowledge
and skills thus they join. This shows that there are people who wanted to give or do
something for the cooperative instead of just looking at the cooperative as a provider.
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
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Table 2. Reasons of respondents in joining the cooperative
FREQUENCY* PERCENTAGE
REASONS
(F)
(%)
The cooperative can help in my financial needs
234
78
The cooperative is a better institution to invest
136
45
money
Want to support the cooperative in its endeavors
141
47
* Multiple response
Members’ Expectations from the Cooperative
Table 3 presents the different expectations of the members from the cooperative
and the level of attainment of these expectations. Earlier findings showed that members
joined the cooperative because they want to avail of loan when they are in need of
finances. Members expected that the cooperative would loan all the amounts they want to
borrow however, in some instances it was not the case. Out of 300 respondents, 19
mentioned their expectation to borrow the amount they needed was not meet while 33
said their expectation was only partially met. These were members who were not able to
meet the loan requirements. On the other hand, majority said their expectation to avail of
loan was all met and some more than met. The weighted average shows a score of 3.01
which means that on the average, the expectation of members to avail of loan from the
cooperative was all met.
The second expectation was that members can invest their money in the
cooperative and earn a higher interest. There were 15 and 53 respondents whose
expectations were not met and partially met, respectively. Majority had their expectation
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
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Table 3. Level of fulfillment of expectations from the cooperative
LEVEL OF FULFILLMENT
EXPECTATIONS
1
2
3
4
F
F
F
F
WF WA
D
Avail of loans
19
33 161 74 854 3.01
Am
Invest money and earn higher interest
15
53 141 70 824 2.95
Am
Avail of patronage refund from my loan 17
32 148 77 833 3.04
Am
Avail of mortuary aid
25
60 111 62 726 2.81
Am
Help others through mortuary aid
15
45 133 56 728 2.92
Am
Contribute my knowledge and skills in 28
62 107 30 593 2.61
Am
the cooperative
Participate in the management of the
38
55 98 25 542 2.51
Am
Cooperative
Meet other people during the seminars
30
67 91 37 585 2.60
Am
See other places during field trips
142 35 27 12 341 1.58
Pm
Acquire technical skill in seminars
sponsored by the cooperative
53
52 71 37 518 2.43
Pm
Other Expectation
Coop should help /contribute during
46
67 82 28 538 2.41
Pm
town fiestas
Coop should help in community
21
71 110 55 513 2.48
Pm
development
Coop should give aid to poor families in
23
69 108 38 637 2.68
Am
the community
Legend: F = Frequency count, WF = Weighted frequency, WA = Weighted average
D = Qualitative description
Scale used: 1 – 1.74 = not met (Nm)
1.75 – 2.49 = partially met (Pm)
2.50 – 3.24 = all met (Am)
3.25 – 4.00 = more than met (Mtm)
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
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fully met and some more than met. The weighted average score was 2.95 which means
that on the average, this expectations of members were all met.
The third expectation was to avail of patronage refund from the interest on loan
they paid to the cooperative. There were 17 respondents whose expectation was not met
and 32 whose expectation was only partially met. These were the members who did not
patronize the credit service and the members who scarcely patronized the credit service,
respectively. However, majority said their expectation to avail of patronage refund was
all met as shown by the weighted average score of 2.95.
The fourth expectation was to avail of mortuary aid. Twenty five (25) of the
respondents mentioned that their expectation was not met. This is because the mortuary
aid is only given to the beneficiaries of the member when that member dies. Sixty (60)
said their expectation was partially met, while majority believed their expectation was
more than met. These were members who became beneficiaries before when their parents
or spouses, who were members of the cooperative, died. The respondents who availed of
this benefit revealed they received P27,000 from the mortuary fund. The weighted
average score was 2.82 which means that the expectations of the members was all met.
The fifth expectation was that they could help others by contributing in the
mortuary aid. Fifteen (15) and 45 respondents, respectively said this expectation was not
met and partially met. Most of the respondents supposed that this expectation was all met
while some said it was more than met. The respondents said that contributing in the
mortuary aid is an obligation of the members and not voluntary so everybody expects that
they have to contribute to this fund.
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
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The sixth expectation was that members could contribute their knowledge and
skills in the cooperative. Twenty eight (28) said this expectation was not met because
they were not able to participate in any activity. These were members who are residing
outside Tubao and so they only go to the cooperative when they have to borrow or to pay
their loans. Sixty two (62) said this expectation was partially met, thirty (30) had this
expectation more than met while majority (107) had this all met. The partially met were
members who also reside far from the cooperative, most of them are busy in their works
thus they seldom participate in the activities of the cooperative. The all met and more
than met were those who actively participated in all the activities conducted by the
cooperative. Some became officers in the cooperative.
The seventh was that members expected to participate in the management of the
cooperative. Thirty eight (38) and 55, respectively had this expectation not met and
partially met. They said they lack the management skills and have not been elected as
officer of the cooperative. Ninety eight (98) said this expectation was met and 25 more
than met because they actively participated in the management of the cooperative through
giving some suggestions during meetings. The weighted average score was 2.51 which
mean that on the average, this members’ expectation was met.
The eighth expectation was that they would meet other people during attendance
to seminars. There were 30 and 69, respectively whose expectation was not met and
partially met. Their reason was that they have not been attending seminars. Most of the
respondents mentioned that their expectation was all met and some had it more than met.
The general perception was that it was all met, as presented by the weighted average
score of 2.60.
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
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The ninth expectation was that members could see or visit other places during
field trip. Majority responded that this expectation was not met and partially met because
they did not join any field trip. Twenty seven (27) had this expectation was met and 12
more than met. This finding implies that many members did not join any field trip
conducted or sponsored by the cooperative or perhaps the cooperative did not conduct
any field trip for the members.
The tenth expectation was to acquire technical skills in seminars sponsored by the
cooperative. The weighted average score was 2.43 which means that members’
expectation about acquiring technical skills was partially met. Very few of the
respondents mentioned this expectation was more than met and 71 said their expectation
was met but 53 and 52, respectively had not met and partially met.
Aside from the members personal expectation, there were other expectation that
the cooperative should meet in relation to the community. Member expects the
cooperative to contribute to their town fiesta celebrations, the cooperative to help in the
community development projects, and the cooperative to give aid to the poor families in
the community. It was found that the first and the second expectations were only partially
met. While the cooperative had been contributing to the community of Tubao every town
fiesta and in some community development projects, some members expected that it
should also do the same for other towns in La Union where the other respondents came
from. The third expectation had an all met rating which shows that the cooperative had
been helping families poor families in the town of Tubao and even in nearby
municipalities of La Union.
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
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Members Participation to General Assembly
Meetings of the Cooperative
Table 4 presents that majority (55%) of the responds said they sometimes
attended the general assembly meeting but sometimes they did not. The two common
reason for not attending the general assembly meeting were: the places of the members
are far from the cooperative and the time or schedule of the general assembly meeting
was in conflict with their work time. Not all the members are from Tubao because the
cooperative membership covered the whole province of La Union so that many are far
from the cooperative. Apart from being far from the cooperative, most of the members
are employees and some are busy with their business. There were 42% who always
attended the cooperative’s general assembly meeting while 8 or 3% did not respond.
This finding implies that most of the members attended the general assembly
meetings of the cooperative.
The reasons for attending the general assembly meeting were as follows: to be
updated on the programs or activities of the cooperative as mentioned by 78%. Forty
seven percent attended the general assembly inorder to participate in the election and
business meeting while 45% attended the general assembly meeting because the
cooperative is giving incentives to members who participate like, meal and transportation
allowances of P150 per member. Some members suggested that instead of cash incentive
the cooperative should provide the food so that the members would time for bonding or
socializing while having their meals.
This finding implies that members have different motivations in attending the
general assembly meeting of the cooperative.
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
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Table 4. Attendance of members to the general assembly meeting and their reasons for
Attending
PARTICULARS
FREQUENCY PERCENTAGE
Frequency of Attending General Assembly Meeting
Always
126
42
Sometimes
166
55
No Respond
8
3
TOTAL
300
100
Reasons for Attending General Assembly Meeting
To be updated on the programs/activities
234
78
To avail of the incentives
136
45
To participate in election/business meeting
141
47
Level of Satisfaction from the Services
of the Cooperative
The services offered by the cooperative and availed by the members are: savings
and time deposit, productive and providential loan, and educational assistance. Table 5
presents that for savings deposit and time deposit 15 were not satisfied, 44 were partially
satisfied, 87 were satisfied, and 61 were very much satisfied on the interest rate offered
by the cooperative. The weighted average of 2.72 shows that members were satisfied on
the interest rate offered by the cooperative. Members were also satisfied, shown by the
weighted average of 2.85, that no tax is withhold from the interest earned on savings and
time deposit unlike the banks. In the same manner, members were also satisfied that
through their deposits they contribute to the funds of the cooperative. They are also
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
18
Table 5. Level of satisfaction received by members from the services of the cooperative
LEVEL OF SATISFACTION
PARTICULARS
1
2
3
4
WF WA D
F
F
F
F
1. Savings and Time Deposit
Higher interest rate than the bank
15 44
87 61 564 2.72
S
No withholding tax deducted
6 45
78 72 573 2.85
S
A certain level of self satisfaction being
5 39 101 56 571 2.84
S
able to contribute to the funds of the
cooperative
A peaceful feeling that money is secured
11 29 110 57 598 2.89
S
if invested in the cooperative
2. Productive and Providential Loan
Interest rate and other charges are lower
than the other lending institutions
9 37 117 61 641 2.86
S
Loan requirements and terms are less strict
9 40 119 60 646 2.83
S
than the bank
Can easily avail of loan in times of need
10 40
74 67 540 2.83
S
Can borrow higher amount from the coop
10 44
80 59 530 2.75
S
than from the bank
3. Educational Assistance
Child was able to go to school
27 17
33 28 255 2.43 PS
satisfied that their money deposited in the cooperative is secured because they believe
and trust the people managing the cooperative.
For the productive and providential loan, the interest rate and other charges had a
weighted average rating score of 2.86 which means that members are satisfied. Loan
requirements and terms of loan and the ease of acquiring a loan from the cooperative
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
19
received the same score of 2.83 which means that the members are satisfied. The amount
that can be borrowed by the members had a score of 2.75 which also means that members
are satisfied.
Educational assistance, as one service of the cooperative, received a score of 2.43
which means that members were partially satisfied with this service. There were 27
respondents not satisfied, 17 were partially satisfied, 33 were satisfied, and 28 were very
much satisfied. According to the respondents, they borrowed money from the cooperative
for the education of their children because they cannot all avail of the educational
assistance provided by the cooperative.
Benefits Received from the Cooperative
Table 6 presents the benefits derived by members for being member of Tubao
Credit Cooperative, Inc. Forty seven (16%) responded that they have derived benefit on
attendance to training sponsored by the cooperative. Majority, 166 or(55%) said they
improved their knowledge and skills through attendance to trainings and seminars.
Besides, their self esteem was also improved. They stated that at first they were to shy to
actively participate but continuous exposure to seminars and training improved their
participated. They are now able to expressed their ideas and aspirations. One hundred
fourteen (38%) said their negative perception about cooperative was changed when they
constantly attended seminars, meetings, workshops and other activities of the
cooperative. Very few, 19 (16%) stated that they have visit other places when they
attended training and seminars outside the cooperative. Eighty nine (29%) claimed they
met new friend, 92 (31%) widened their experience, 144 (48%) developed the value of
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
20
Table 6. Benefits derived from the services of the cooperative
BENEFITS DERIVED
FREQUENCY PERCENTAGE
(F)
(%)
Attendance to Trainings/Seminars/Workshops and
Educational Tours
Improved knowledge and skills
166
55
Improved self esteem
19
6
Broadened view about cooperatives
114
38
Able to visit other places
19
6
Able to meet friend
89
29
Widened experience
92
31
Developed the value of thrift
144
48
Economic benefits
Increased savings through patronage refund and
160
53
interest on capital
Stable source of income from investment of
92
31
productive loan
Increase family income
85
28
Able to purchase real property
50
17
thrift because hey could deposit even small amount anytime, 160 (53%) had an
increase in their asset through the patronage refund and interest on share capital.
On the economic benefits received, 50 (17%) recognized that they have been
receiving economic benefits from the use of productive loans. Ninety two or 31%
mentioned, they are gaining income from their investment, 85 (28%) related that the
productive loan increased their family income because the loan was used by the member
in purchasing an income generating asset like passenger jeep, farm machineries and a
piece of land.
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
21
This finding was similar to that of Victor (2008) who said that members derived
benefits from the cooperative in various ways such as: develop habit of thrift and savings,
the cooperative served as training ground for members in simple business operation,
democratic leadership and responsible citizens, and the cooperative offers opportunities
to its members to progress by means of the benefits provided.
Percent Increase in Members Income
From the services provided by the cooperative, the members had an increase in
their family income. Some of the sources were interest on savings and time deposit,
patronage refund and dividend, and income from investment of productive loan acquired
from the cooperative. Table 7 shows the estimated increase in the income of the
respondents in 2008. One hundred five (35%) related that their income increased by 10%
- 15% compared to 2007. Eighty three (28%) had an increase of less than 10% , 40 or
(13%) had 16% - 20%, 15 or (5%) had 21% -25%, while 6 or (2%) had 26% - 30% ,
and 7 (2%) had an increase above 30%. Forty four of the total respondents did not give
their respond regarding this matter.
This finding shows that the cooperative contributed in uplifting the economic
status of the members.
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
22
Table 7. Percent increase in the income of the members in 2008 compared to 2007
PARTICULARS
FREQUENCY
PERCENTAGE
Less than 10%
83
27.70
10% - 15%
105
35.00
16% - 20%
40
13.30
21% -25%
15
5.00
26% - 30%
6
2.00
Above 30%
7
2.33
No Answer
44
14.70
TOTAL
300
100.00
Estimated Increase in Total Asset of Members
Some of the respondents mentioned their total asset increased as an effect of the
economic benefits they received from being a member of the cooperative. Table 8
presents the percent increase in their total asset based on their estimate. One hundred
sixty one (54%) of the total respondents said their total asset increased by less than 100%,
71 or 24% had doubled their total asset and 61(20%) had more than 100% increase. They
mentioned that they borrowed high amount from the cooperative and invested in an
income generating asset or otherwise deposited high amount and gained interest.
This signifies that most of the respondent is receiving economic benefit from the
cooperative
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
23
Table 8. Estimated increase in total asset of members due to economic benefits from the
cooperative
PARTICULARS
FREQUENCY
PERCENTAGE
(F)
(%)
Less than 100%
161
54
Double or 100%
71
24
More than double or > 100%
7
2
No Response
61
20
Total
300
100
Perceptions About the Mortuary Fund
Table 9 Contains the perceptions of members on mortuary fund. Most 219 (73%)
of the respondents said the mortuary fund is beneficial for all members are assured of
financial aid incase of death. Some members who were beneficiary were happy relating
that the amount they received was sufficient for the interment of their loved ones. Not all
the members were happy about the mortuary fund. Sixty (20%) said it is a burden since
they have to contribute every time a member dies . It was a burden because they are older
and are contributing higher amount than the younger members. Twenty nine percent
suggested an increase in the benefit since the purchasing power of the peso is decreasing,
65 (22%) said that the amount of contribution should be decreased .
This finding shows that new members find this contribution a burden but those
who availed of this benefit said that it is beneficial. Some wanted to increase the amount
of mortuary fund but others wanted to decrease the amount of contribution which is the
source of the fund.
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
24
Table 9. Perceptions of respondents about the mortuary fund
PARTICULARS
FREQUENCY* PERCENTAGE
(F)
(%)
Beneficial because family members are assured of
219
73
financial aid in case of death of the member
A burden because members have to pay
60
20
contribution every time a member dies
Amount of benefit should be increased
87
29
Contribution should be decreased
65
22
Multiple Response *
General Impression on the Services of the Cooperative
Table 10 shows the rating of the respondents on the services of the cooperative as
a whole. One hundred seven or 35% of the respondents rate the cooperatives services, as
very satisfactory since their expectations as member were met , ninety or 30% gave a
rating of satisfactory, 81or 27% rated excellent since their expectations were more than
met by the cooperative, and only 2 or 1% rated as unsatisfactory since they received less
benefit because they did not actively patronize the cooperative services while 20 or 7%
did not give comment on the services of the cooperative.
Some said that the cooperative is prompt in providing their services. Others
mentioned they appreciate the cooperative employees, headed by their humane manger,
because they are friendly.
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
25
Table 10. Ratings of the respondents on the services of the cooperative
RATING
FREQUENCY
PERCENTAGE
(F)
(%)
Excellent
81
27
Very satisfactory
107
35
Satisfactory
90
30
Unsatisfactory
2
1
No Response
20
7
Total
300
100
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
26
SUMMARY, CONCLUSIONS AND RECOMMENDATIONS
Summary
This study was conducted at Tubao credit Cooperative, Poblacion La Union. It
aimed to identify the different expectations of members in joining the cooperative and the
level of their fulfillment, to find out the services that are frequently availed by the
members, and to identify the different benefits received by members from the services of
the cooperative. This was classified into two: social and economic benefits.
A survey questionnaire was used to gather the information from the cooperative
members. The researcher explained the questions that were not understood by the
respondents. The data collected was tabulated and analyzed using frequency and
percentage.
It was found out that most of the respondents belong to the age bracket 41-60
years old. Majority were female, married, college graduate, and were employed, in the
government and private institutions .
The respondents mentioned they joined the cooperative because they believe that
the cooperative can help in their financial needs, believe that the cooperative is a better
institution to invest money, and the cooperative is offering a higher interest on savings
deposit than the banks. From their share capital, members also earn dividends or interest
if the cooperative had surplus or profit and lastly they join the cooperative because they
want to support the cooperative to its endeavor by contributing their knowledge and
skills.
It was found that members’ expectations from the cooperative are the following:
members are able to avail of loans, invest money and earn higher interest , avail of
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
27
mortuary aid , members could help others through mortuary aid, they could contribute
their knowledge and skills in the cooperative, participate in the management of the
cooperative , they could meet other people during seminars , and the cooperative
should give aid to poor families in the community. The Likert scale was used to measure
the level of fulfillment of their expectations. The finding shows that majority of the
members expectations were fulfilled. There were some expectation that were not met or
partially met either because the cooperative was not able to meet this expectation like
bring the members to other places on a field trip, or the members were not able to
participate thus not meeting their expectation. The expectations of members that the
cooperative would participate in community undertakings were rated as partially met by
the respondents.
This study found out that all of the cooperative services were frequently availed
by the members except the educational assistance because this is limited and only a few
qualified could avail.
From the services availed, the members derived benefits. This maybe in the form
of social benefits like increase in knowledge and skills, improved personality through
constant attendance to trainings and seminars conducted or sponsored by the cooperative,
or improved savings habits because they could continuously save in the cooperative even
in small amounts which they say it shameful to bring it to the bank. Another type of
benefit derived by members is the economic benefit which could be in the form of
increased savings through patronage refund and interest on share capital, stable source of
income from investments of their loan proceeds from the cooperative and they were able
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
28
to purchase real property or fixed assets like passenger jeep, farm machineries, and a
piece of land.
It was also found that most members find the mortuary fund beneficial.
Beneficiaries were happy that they received amount for the interment of their loved
ones. Only few found it as a burden, specially the new members who are paying a higher
contribution then the old members. Some suggested that the amount of benefit from
mortuary should be increased but on the other hand, other suggested that the contribution
for mortuary should be decreased
It was also found that majority of the respondents evaluated the cooperative
performance as very satisfactory for the cooperative are prompt in providing their
services and they also mention that they appreciate the cooperative employee headed by
their humane manager.
Conclusions
Based from the finding of the study the following conclusions were made:
1.
The members joined the cooperative because they perceived the
cooperative can help them in their financial needs. Most of the members see the
cooperative as a better place to save their money because it gives them higher interest
rate and accepts deposits even in small amounts which banks cannot do. Some members
joined the cooperative because they want to give support to the cooperative in its
endeavors.
2.
The members have two kinds of expectation when they joined the
cooperative: one is for their personal benefit and the other is related to community
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
29
development. Members perceived that their personal expectations were amply met by the
cooperative while that for the community was partially met.
3.
Majority of the members availed almost all the services of the cooperative
except for the educational assistance. This maybe because it is offered to only a few who
could meet the qualifications set by the cooperative. Majority are satisfied with the
services offered by the cooperative except for the educational assistance and the mortuary
fund. Some members perceived the mortuary fund as a burden because of the
contribution. The new members observed the contribution as unfair because they pay a
higher amount than the old members.
4.
There are two kinds of benefits derived by the members from the
cooperative. These are the social benefits in the form of improved social personality and
the economic benefit in terms of increased income and increased savings. Majority of the
members acquired skills through trainings and had improved their camaraderie after some
years of being a member of the cooperative. Members also had an increase in their
savings and their income.
5.
The very satisfactory and excellent ratings of majority of the respondents
on the services of the cooperative is indicative of an excellent performance of the
management staff headed by the manager.
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
30
Recommendations
Based on the conclusions the following were given as recommendations:
1. the cooperative should keep up with its very satisfactory services so that it
could sustain meeting all the members’ expectations. Improve on some services that did
not meet the expectations of members like bringing the members, specially farmers,
housewives and the self employed who had less changes of traveling to visit other places
by sending them to seminars or conducting field trips to other successful cooperatives
even within the regions. This would further boost up their morale and maybe motivated
to increase their patronage in the cooperative.
2. the cooperative could branch out to other municipalities of La Union so that
members from these far municipalities would not be hard up in going to the cooperative
when they want to avail of its service. This would also encourage more people to join the
cooperative and be educated on the advantages of the cooperative over the capitalistic
business. This would also increase the number of people benefited by the cooperative.
This would also meet the expectation of some members regarding involvement in
community development. As of present the assistance of the cooperative is focused
within Tubao. If the cooperative will branch out to other places then the same assistance
would also be given to the other communities where the members reside.
3. So that the new members will not see the mortuary fund contribution as a
burden, the amount of contribution should be equal for all members. This contribution is
a form of assistance and it should come from the heart of the giver. The giving of the
contribution should be explained to all the members that when they give they will also be
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
31
blessed. When the givers have joy in giving then recipient will have a peace of mind
when it receives it.
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
32
LITERATURE CITED
AQUINO, A. ( 1991 ) Primer on the Cooperative code of the Philippines (R.A .NO.
6938). Phoenix press Inc. Quezon Ave., Quezon City. Pp. 16.
ARALAR, R.B. ( 2003 ) Comments on the Cooperative Code of the Philippines,
Published
by National Book Store Pp.12
GARCIA, G.Y. and M.H. GUASON ( 2004 ) Cooperative Publishing House,
Espana, Manila Pp.153.
OYANG, J ( 2006 ) Benefits Derived by members from the Services of Baguio Market
Vendors Multi Purpose Cooperative B.S ,Thesis Benguet State University, La
Trinidad , Benguet Pp.6-7.
QUINTOS, J ( 2008 ) Documentation of the carnation and marketing of Mountain Bloom
Multi-Purpose Cooperative of Englandad, Paoay, Atok Benguet B.S .Thesis.
Benguet State University Pp.4, 6, 7
VICTOR, A.K. ( 2008 ) Members’Perceived Benefit from the Services of Benguet Rural
People’s Multi Purpose Cooperative .B.S thesis Benguet State University Pp.9-10.
ANONYMOUS.N.N. Retrieved
September 20, 20
08
from
WWW.Coperatives,Ucdavis.edu/what is/index.htm
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
33
APPENDIX
A. Letter to the Manager
Republic of the Philippines
Benguet State University
COLLEGE OF AGRICULTURE
La Trinidad, Benguet
DEPARTMENT OF AGRICULTURAL ECONOMICS
AND AGRIBUSINESS MANAGEMENT
December 17, 2008
ROMULUS LAYUG
Manager
Tubao Credit Cooperative
Poblacion, Tubao, La Union
Sir:
Greetings!
I am Jerrigo S. Angligen a fourth year student of Benguet State University taking
up Bachelor of Science in Agribusiness major in Cooperative Management. One of the
requirement for us to graduate is to conduct an undergraduate thesis. In regard to this,
I’ve planned to pursue my study with your prestigious cooperative as the subject. My
defended proposal is entitled “Members’ PerceivedBenefits from the Services of Tubao
Credit Cooperative.”
May I request for your favorable approval to conduct this study and your
assistance with data gathering. May I request a copy of your cooperative’s policy and and
your assistance in the distribution and collection of the survey questionnaires.
Thank you very much. May God Bless us all.
Respectfully yours,
JERRIGO S. ANGLIGEN
Noted by:
LUKE E. CUANGUEY
Department Chairperson
EVANGELINE B. CUNGIHAN
Thesis Adviser
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
34
B. Letter to the Respondents
Republic of the Philippines
Benguet State University
COLLEGE OF AGRICULTURE
La Trinidad, Benguet
DEPARTMENT OF AGRICULTURAL ECONOMICS
AND AGRIBUSINESS MANAGEMENT
December 17, 2008
Dear Respondents,
Warm Greetings!
I am Jerrigo S. Angligen a fourth year student of Benguet State University taking
up Bachelor of Science in Agribusiness major in Cooperative Management. I am
presently conducting my undergraduate thesis entitled “Members’ Perceived Benefits
from the Services of Tubao Credit Cooperative” as a partial requirement for graduation.
May I request your cooperation in honestly answering this attached questionnaire.
Rest assure that your answers will be treated confidentially by the researcher.
Thank you verymuch. May God bless us all.
Respectfully yours,
JERRIGO S. ANGLIGEN
Noted by:
EVANGELINE B. CUNGIHAN
Thesis Adviser
ROMULUS LAYUG
Manager
Tubao Credit Cooperative
Poblacion, Tubao, La Union
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
35
C. Survey Questionnaire
I. PERSONAL INFORMATION
Name (Optional) ___________________________ Sex ( ) Male ( ) Female
Age _______________ Civil Status ( ) Single ( ) Married ( ) Widowed
Occupation: ( ) farmer ( ) employee ( ) businessman/woman ( ) self-employed
( ) Plain housewife (no occupation)
Educational Attainment: ( ) Elementary ( ) highschool ( ) college graduate
II. EXPECTATIONS FROM THE COOPERATIVE
1. What were your expectations when you joined the cooperative? Please rate the level
of fulfillment of your expectations using the scale below:
1 = not met 2 = partially met 3 = all met 4 = more than met
Personal Expectations
1 2 3 4
( ) to avail of loans
( ) to invest my money and gain higher interest
( ) to avail of patronage refund from my loans
( ) to avail of mortuary aid
( ) to help others through the mortuary fund
( ) to contribute my knowledge and skills in the cooperative
( ) to participate in the management of the coop business
( ) to meet other people during seminars
( ) to see other places during field trips
( ) to acquire technical skill in seminars sponsored by the cooperative
( ) others ( pls specify)
2. Other expectations from the cooperative
( ) coop should help/contribute during town fiestas
( ) coop should help in community development
( ) coop should give aid to poor families in the community
( ) others (pls. specify)
II. COOPERATIVE INVOVLEMENT
1. Are you attending the regular general assembly of the cooperative?
( ) always ( ) sometimes
2. Why do you attend the general assembly?
( ) to be updated on the programs/activities of the cooperative
( ) to avail of the incentives for attendance
( ) to participate in the election/business meeting
( ) others ( please specify) _______________________________________________
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
36
3. What are your reasons in joining the cooperative?
( )because I believe that the cooperative can help me in my financial needs
( ) because I believe the cooperative is a better institution to invest my money in.
( ) because I believe in the principles and philosophy of the cooperative
( ) because I want to support the cooperative in its endeavors through my knowledge
and skills.
( ) others (please specify) ______________________________________________
4. What are the services of the cooperative that you availed for the last five years? What
are the benefits you derived from the services? Please check those applicable to you and
rate the level of satisfaction using the scale below:
Scale: (1)dissatisfied
( 2) Partially Satisfied ( 3) Satisfied
( 4 ) very much satisfied
Services
Benefits derived
Level of Satisfaction
availed
1
2
3
4
Savings and
( ) higher interest rate than the bank
time deposit
( ) no with holding tax deducted from
interest
( ) I feel satisfied when I contribute to the
funds of the cooperative
( ) I feel at peace that my money is safe in
the cooperative
Productive and ( ) interest rate and other charges is lower
providential
than other lending institutions
loan
( ) loan requirements and terms are less
strict than the bank
( ) I can easily avail of loan in times of
need
( ) can borrow higher amount from the
coop than from the bank
( ) Others (specify) __________________
Educational
( ) My child was able to go to college
Assistance
( ) Other (specify)__________________
Jewelry pledge ( ) charges are lower than the pawnshops
loan
( ) term of payment is longer than the
pawnshop
( ) my jewelries are more secured in the
cooperative (minimal
risk for robbery)
( ) insurance for my jewelry is higher
( ) higher monetary value than the
pawnshop
5. What other benefits did you derive from being a members of Tubao Credit
Cooperative?
( ) Attendance to trainings/seminar/workshops and educational tour
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
37
___ improved my knowledge and skills
___ improved my self esteem
___ broadened my view about cooperative
___ able to visit other places
___ able to meet new friends
___ widened my experience
( ) I developed the value of thrift
( ) increased in savings through the patronage refund and interest on capital
( ) other (please specify) _____________________________________________
( ) Economic benefits from the use of productive loans
___ Stable source of income from my investment
___ Increase family income
___ able to purchase real property
6. By how much did your income increase last year due to the economic benefit you
derived from the cooperative?
____ less than 10%
___ 10% - 15%
____ 16% - 20%
___ 21% - 25%
___ 26% - 30%
___ above 30%
7. By how much did your total asset increase last year due to the economic benefit you
derived from the cooperative?
( ) less than double
( ) doubled
( ) more than doubled
8. How much have you contributed to mortuary fund for the last five years?
____________
9. What is your perception about the mortuary fund?
( ) it is beneficial because all members are assured of financial help in case of death
( ) it is a burden because members have to contribute every time a member dies
( ) the amount of the benefit should be increased
( ) the amount of contribution should be decreased
( ) others (pls specify) ________________________________________
9. What can you say about the services of your cooperative?
( ) excellent ( your expectations are more than met)
( ) very satisfactory ( all your expectations are met)
( ) satisfactory (most of your expectations are met)
( ) unsatisfactory ( less of your expectations are met)
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
ANGLIGEN, JERRIGO S. APRIL, 2009. Members’ Perceived Benefits from the
Services of Tubao Credit Cooperative. Benguet State University, La Trinidad, Benguet.
Adviser: Evangeline B. Cungihan, Msc.
ABSTRACT
This study was conducted to find out the following: expectations of members in
joining the cooperative and the level of fulfillment, the services that are frequently
availed by members, and the benefits received by members from the services of the
cooperative.
A survey questionnaire was used in the collection of the data and was personally
administered by the researcher. Three hundred (300) members were taken as respondents.
Members joined the cooperative with the expectations that they could avail of
loan, deposit their money in the cooperative and earn a higher interest, avail of patronage
refund, avail of mortuary aid and at the same time help other through the same, contribute
their knowledge and skills in the cooperative, participate in the management of the
cooperative, meet other people during seminars, visit other others places during field
trips, and acquire technical skill from seminars sponsored by the cooperative. The result
showed that, except for the last two expectations, all their personal expectations were
met by the cooperative. The last two were only partially met. In addition, their
expectations about the contribution of the cooperative to community development was
also partially met.
The services frequently availed by members were the following: savings and time
deposits, productive and providential loan, and the educational assistance. It was found
that the members were satisfied with the services of the cooperative, except for the
educational assistance.
The benefits derived by members were classified into social benefit and economic
benefit. Social benefit was concerned on the improvements in the personal traits of the
members. It was found that members were able to acquire additional skills and broaden
their knowledge about cooperative, and developed the value of thrift. For the economic
benefit, members had an increase in their savings, had a stable source of income from the
investment of productive loan, and some were able to buy real property from their loans.
ii
TABLE OF CONTENT
Page
Bibliography . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
i
Abstract . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
i
Table of Content. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
iii
INTRODUCTION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1
Rationale of the Study . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1
Statement of the problem . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
Objectives of the Study . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
Importance of the Study . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
Delimitation of the Study. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
3
REVIEW OF LITERATURE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4
Cooperative Defined . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4
Objectives of Cooperative. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4
Members Benefit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
6
METHODOLOGY . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7
Locale and Time of the Study. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7
Respondents of the Study. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7
Data Collection . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7
Data Analysis . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7
iii
RESULTS AND DISCUSSION . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8
Profile of the Respondents . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8
Reasons for Joining the Cooperative . . . . . . . . . . . . . . . . . . . . . . . . .
10
Members’ Expectation from the Cooperative . . . . . . . . . . . . . . . . . .
11
Members Participation to General Assembly
Meetings of the Cooperative. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
16
Level of Satisfaction from the Services of the
Cooperative. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
17
Benefits Received from the Cooperative. . . . . . . . . . . . . . . . . . . . . .
19
Percent Increase in Members Income. . . . . . . . . . . . . . . . . . . . . . . .
21
Estimated Increase in Total Asset of Members . . . . . . . . . . . . . . . . .
22
Perceptions About the Mortuary Fund. . . . . . . . . . . . . . . . . . . . . . . .
23
General Impression on the Services of the
Cooperative. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
24
SUMMARY, CONCLUSIONS AND RECOMMENDATIONS
Summary. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
26
Conclusions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
28
Recommendations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
30
LITERATURE CITED . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
32
APPENDIX
A. Letter to the Manager . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
33
B. Letter to the Respondents. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
34
C. Survey Questionnaire . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
35
iv
INTRODUCTION
Rationale of the Study
The Tubao Credit Cooperative, a well established and multi-awarded cooperative,
is an example of cooperative to emulated. It has 41 years of successful existence. It was
created based on a church mission. The Tubao Credit Cooperative (TCC) was organized
by a Belgian missionary who was assigned in Tubao as parish priest. His name is Rev. Fr.
Jaime Quatannens. He observed that people in his parish were financially hard up and
were victims of unscrupulous moneylenders. He therefore established the cooperative in
August 3, 1966 with 39 pioneer members. They started with a paid-up share capital of
P314.00. It was formally registered with the Cooperative Administration Office (CAO)
under RA 2023 and October 26,1966 under Registration N0. 001503. It survived under
the principle of self-reliance and sacrifice through God’s help. On its 10th year of
operation in 1975, the cooperative reached its first million mark with a total asset of 1.2
million pesos. On its Silver Jubilee Year in 1991 its total asset reached 37.90 million
pesos and by the end of December 2007 total assets surged to 483.93 million pesos and
total members of about 24, 600 (TCC brochure).
As stated in their brochure, the cooperative was established with a mission to
ensure survival and viability of cooperativism as a collective enterprise as well as a way
of life such that the socio-economic status of its members is alleviated. Thus TCC is an
economic vehicle, a mover, a shaker, and a shaper of financial stability of its members in
particular and the communities it serves in general. Furthermore, it is also the mission of
the cooperative to compete locally and globally with other cooperatives, in terms of
deposits, income, assets and investments. To fulfill its mission, the cooperative has the
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
2
following goals: (1) to provide mainly quality service especially financial assistance to
clienteles, not profit motivated, (2) to win the trust, confidence and unity of the members
to prevent suspicion and fragmentatism through efficient and effective management, (3)
to establish linkages with cooperatives and agencies to enrich/broaden knowledge and
experience of members, and (4) to encourage savings and to forge strong partnership with
the members.
The multi-awards and growth in total asset as well as in membership is an
indication that Tubao Credit Cooperative is true to its mission and goals. This study was
conducted to find out the benefits that members have been receiving from the services
that the cooperative is giving to them.
Statement of the Problem
The study tried to answer the following questions:
1. What are the expectations of members in joining the cooperative and are these
expectations met ?
2. What are the services frequently availed by majority of the members and
why?
3. What are the benefits received by members from the services of the
cooperative?
Objectives of the Study
The study aimed to find out the following:
1. expectations of members in joining the cooperative and the level of fulfillment;
2. the services that are frequently availed by members
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
3
3. the benefits received by members from the services of the cooperative classified
into
a. social benefits
b. economic benefits
Importance of the Study
The study first of all served as a training ground for the researcher to be involved
in research work. Secondly, it would provide information to other students who wish to
conduct similar studies in the future and thirdly, this study would provide necessary
information to the cooperative’s management to further improve their services inorder to
be globally competitive.
Delimitation the Study
The study only focused on identifying the benefits received by members as they
perceived it. Respondents of the study were limited to those who have been members of
the cooperative for at least five years.
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
4
REVIEW OF LITERATURE
Cooperative Defined
The word cooperative is derived from the French word “cooperari”, which means
working together (Garcia and Guanzon, 2004). They also defined cooperative as a form
of business that is useful and helpful to people regardless of where they live or how they
earn their living. Besides, a cooperative seeks to realize the economic benefits for
members from services, and develop best uses of members’ resources.
A cooperative is a private business organization that is owned and controlled by
the people who used its products, supplies or services. Although cooperatives vary in
type and membership size, all were found to meet the specific objectives of members, and
are structured to adapt to members changing needs. A cooperative is formed by
individuals who coordinate among themselves to achieve vertical integration in their
business activities. Although people have been working together for mutual benefit
throughout human history, cooperative as a form of business organization began during
the industrial revolution. Cooperatives were useful for promoting the interest of the less
powerful member of society i.e. farmers, producers, workers, and consumers because
they would accomplish more collectively than they could individually ( Anonymous,
2008).
Objective of Cooperatives
Aquino (1991), stated that the primary objective of every cooperative is to
provide goods and services to its members and thus enable them to attain increased
income and savings, investment, productivity and purchasing power and promote among
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
5
them equitable distribution of net surplus through maximum utilization of economic
scale, cost sharing and risk sharing without however, conducting the affairs of
cooperative for charitable purpose.
As stated by Aralar (2003), a cooperative provide maximum economic benefits to
its members, teach them the efficient ways of doing things and propagate cooperative
practices and new ideas in business and management and allows the low income groups
to increase their ownership in wealth of nation.
Fajardo and Fabian as cited by Quintos (2008), mentioned that economic growth
and development have been an elusive goal of the Philippines. The overall development
goals is for improved quality of life of every Filipino through international
competitiveness and people empowerment through cooperatives. A cooperative is a
business and a social organization that exposes the spirit of self help and working
together in pursuit of social and economic ends.
Community development through the cooperative is a way for people to work
together in order to build better community and thereby improve the welfare of all. They
organize themselves under their free will and work as a team to solve problems of their
community. The cooperative teaches members to practice wise use of money to be self-
reliant. It likewise teaches members how to save, encourages members to prosper through
their own cooperative efforts and acquire incomes, thereby fairly distributing wealth
among members. Farmers’ negative attitudes and values can be change through continues
training and education by the cooperative.
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
6
Oyang (2006), cited that cooperatives improve quality of life of people by
developing attitudes and active participation in working together to solve economic and
social problems. The cooperative serves these functions:
1. It will serve as means of building capital and savings.
2. It undertakes effective and continuous cooperative education among members
where cooperative concepts and practices are inculcated in meaningful ways.
3. It serves as an exercise for self government to fortify leadership in the
community and delegate positive relationship with the people.
4. It will also serve as a conduit for essential services provided to members
channeled from government services to the people.
Members Benefits
Victor (2008) stated that members derive benefits from the cooperative in various
ways such as:
a. cooperative members develop the habit of thrift and savings,
b. the cooperative serves as the training ground for members in simple business
operation, democratic leadership and responsible citizenship, and
c. the cooperative offers opportunities to its member to progress by means of the
benefits it provides.
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
7
METHODOLOGY
Locale and Time of the Study
The study was conducted at Tubao, La Union December 2008 to January 2009.
Respondents of the Study
The respondents of the study were the members of Tubao Credit Cooperative
who had been members for at least five years at the time of the study. Three hundred
respondents were taken at random.
Data Collection
A survey questionnaire was used to collect the data. An interview with the
manager was also conducted to validate the answers of the respondents.
Data Analysis
The data collected was tabulated and analyzed using appropriate statistical tools
The data that gathered was presented using frequency and percentage. Financial analysis
was also done to analyze the financial performance of the cooperative while relating it to
the benefits received by the members.
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
8
RESULTS AND DISCUSSION
Profile of the Respondents
This section presents the background information about the respondents of the
study. The information includes their gender, age, civil status, occupation and highest
educational attainment. These are indicated in Table 1.
Gender. Out of three hundred (300) respondents one hundred forty three or 48%
were female and one hundred nine or 36% were male. Forty eight or 16% of the
respondents did not indicate their gender.
This finding signifies that the membership of Tubao Credit Cooperative were
dominated by female.
Age. The oldest age of the respondent was eighty (80) years old while the
youngest was twenty (20) years old. The age bracket 41-60 years old had the highest
number of respondents ( 110 or 37%) followed by the 20 – 40 years old with 28%. Thirty
two or 11% belonged to the 60 – 80 years old. Eighty three or 28% of them did not
indicate their ages. This finding shows that the membership of Tubao Credit Cooperative
is a mixture of young and old. The younger ones can learn from the wisdom of the older
ones and become responsible leaders in the future.
Civil status. Majority, 160 or 53% of the respondents interviewed were married,
40 (13%) were single and 25 (8%) were widowed. There were 75 or 25% who did not
respond regarding their civil status.
Occupation. The table presents that 68 or 23% of the respondent were employees
in either private or government non-business institutions, 20% were farmers, 10% were
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
9
Table 1. Personal background of the respondents
CHARACTERISTICS
FREQUENCY
PERCENTAGE
(F)
(%)
Gender
Male
109
36
Female
143
48
No responds
48
16
TOTAL
300
100
Age
20 – 40
75
25
41 – 60
110
37
61 – 80
32
11
No responds
83
28
TOTAL
300
100
Civil Status
Single
40
13
Married
160
54
Widowed
25
8
No responds
75
25
TOTAL
300
100
Occupation
Farmer
60
20
Employee (government or private)
69
23
Working in businesses
30
10
Self-employed
46
16
Housewife
31
10
No responds
64
21
TOTAL
300
100
Educational Attainment
Elementary graduate
17
6
Highschool graduate
87
29
College graduate
106
35
College undergraduate/vocational
7
2
No responds
83
28
TOTAL
300
100
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
10
working in businesses, 16% were self- employed involved in operating/ managing their
own line of business, and 10% were plain housewives.
This finding shows that members of Tubao Credit Cooperative had different
occupations. It further implies that the cooperative opens its membership to any person,
employed or not employed, as long as they are residing within the area of it operation.
Educational attainment. The finding shows that most of the respondents, 35%,
were college graduate. Eighty seven or 29% were high school graduate, 6% were
elementary graduate, and 2% were either college under graduate or finished vocational.
This finding signifies that most of the members are literate, able to read and write
thus, it is not difficult to educate them on the cooperative principles and philosophies.
Reasons for Joining the Cooperative
Table 2 shows the reasons of members for joining the cooperative. Majority
(78%) of the respondents said they joined the cooperative because they believe that it can
help them in their financial needs. Forty five percent (45%) believed that the cooperative
is a better institution to invest money. This is because they perceived that the cooperative
is offering a higher interest rate on savings deposit than the banks. From their share
capital, members also earn an interest every year and if the cooperative has high net
surplus the interest on share capital is also high. There were 47% who mentioned that
they wanted to support the cooperative in its endeavor by contributing their knowledge
and skills thus they join. This shows that there are people who wanted to give or do
something for the cooperative instead of just looking at the cooperative as a provider.
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
11
Table 2. Reasons of respondents in joining the cooperative
FREQUENCY* PERCENTAGE
REASONS
(F)
(%)
The cooperative can help in my financial needs
234
78
The cooperative is a better institution to invest
136
45
money
Want to support the cooperative in its endeavors
141
47
* Multiple response
Members’ Expectations from the Cooperative
Table 3 presents the different expectations of the members from the cooperative
and the level of attainment of these expectations. Earlier findings showed that members
joined the cooperative because they want to avail of loan when they are in need of
finances. Members expected that the cooperative would loan all the amounts they want to
borrow however, in some instances it was not the case. Out of 300 respondents, 19
mentioned their expectation to borrow the amount they needed was not meet while 33
said their expectation was only partially met. These were members who were not able to
meet the loan requirements. On the other hand, majority said their expectation to avail of
loan was all met and some more than met. The weighted average shows a score of 3.01
which means that on the average, the expectation of members to avail of loan from the
cooperative was all met.
The second expectation was that members can invest their money in the
cooperative and earn a higher interest. There were 15 and 53 respondents whose
expectations were not met and partially met, respectively. Majority had their expectation
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
12
Table 3. Level of fulfillment of expectations from the cooperative
LEVEL OF FULFILLMENT
EXPECTATIONS
1
2
3
4
F
F
F
F
WF WA
D
Avail of loans
19
33 161 74 854 3.01
Am
Invest money and earn higher interest
15
53 141 70 824 2.95
Am
Avail of patronage refund from my loan 17
32 148 77 833 3.04
Am
Avail of mortuary aid
25
60 111 62 726 2.81
Am
Help others through mortuary aid
15
45 133 56 728 2.92
Am
Contribute my knowledge and skills in 28
62 107 30 593 2.61
Am
the cooperative
Participate in the management of the
38
55 98 25 542 2.51
Am
Cooperative
Meet other people during the seminars
30
67 91 37 585 2.60
Am
See other places during field trips
142 35 27 12 341 1.58
Pm
Acquire technical skill in seminars
sponsored by the cooperative
53
52 71 37 518 2.43
Pm
Other Expectation
Coop should help /contribute during
46
67 82 28 538 2.41
Pm
town fiestas
Coop should help in community
21
71 110 55 513 2.48
Pm
development
Coop should give aid to poor families in
23
69 108 38 637 2.68
Am
the community
Legend: F = Frequency count, WF = Weighted frequency, WA = Weighted average
D = Qualitative description
Scale used: 1 – 1.74 = not met (Nm)
1.75 – 2.49 = partially met (Pm)
2.50 – 3.24 = all met (Am)
3.25 – 4.00 = more than met (Mtm)
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
13
fully met and some more than met. The weighted average score was 2.95 which means
that on the average, this expectations of members were all met.
The third expectation was to avail of patronage refund from the interest on loan
they paid to the cooperative. There were 17 respondents whose expectation was not met
and 32 whose expectation was only partially met. These were the members who did not
patronize the credit service and the members who scarcely patronized the credit service,
respectively. However, majority said their expectation to avail of patronage refund was
all met as shown by the weighted average score of 2.95.
The fourth expectation was to avail of mortuary aid. Twenty five (25) of the
respondents mentioned that their expectation was not met. This is because the mortuary
aid is only given to the beneficiaries of the member when that member dies. Sixty (60)
said their expectation was partially met, while majority believed their expectation was
more than met. These were members who became beneficiaries before when their parents
or spouses, who were members of the cooperative, died. The respondents who availed of
this benefit revealed they received P27,000 from the mortuary fund. The weighted
average score was 2.82 which means that the expectations of the members was all met.
The fifth expectation was that they could help others by contributing in the
mortuary aid. Fifteen (15) and 45 respondents, respectively said this expectation was not
met and partially met. Most of the respondents supposed that this expectation was all met
while some said it was more than met. The respondents said that contributing in the
mortuary aid is an obligation of the members and not voluntary so everybody expects that
they have to contribute to this fund.
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
14
The sixth expectation was that members could contribute their knowledge and
skills in the cooperative. Twenty eight (28) said this expectation was not met because
they were not able to participate in any activity. These were members who are residing
outside Tubao and so they only go to the cooperative when they have to borrow or to pay
their loans. Sixty two (62) said this expectation was partially met, thirty (30) had this
expectation more than met while majority (107) had this all met. The partially met were
members who also reside far from the cooperative, most of them are busy in their works
thus they seldom participate in the activities of the cooperative. The all met and more
than met were those who actively participated in all the activities conducted by the
cooperative. Some became officers in the cooperative.
The seventh was that members expected to participate in the management of the
cooperative. Thirty eight (38) and 55, respectively had this expectation not met and
partially met. They said they lack the management skills and have not been elected as
officer of the cooperative. Ninety eight (98) said this expectation was met and 25 more
than met because they actively participated in the management of the cooperative through
giving some suggestions during meetings. The weighted average score was 2.51 which
mean that on the average, this members’ expectation was met.
The eighth expectation was that they would meet other people during attendance
to seminars. There were 30 and 69, respectively whose expectation was not met and
partially met. Their reason was that they have not been attending seminars. Most of the
respondents mentioned that their expectation was all met and some had it more than met.
The general perception was that it was all met, as presented by the weighted average
score of 2.60.
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
15
The ninth expectation was that members could see or visit other places during
field trip. Majority responded that this expectation was not met and partially met because
they did not join any field trip. Twenty seven (27) had this expectation was met and 12
more than met. This finding implies that many members did not join any field trip
conducted or sponsored by the cooperative or perhaps the cooperative did not conduct
any field trip for the members.
The tenth expectation was to acquire technical skills in seminars sponsored by the
cooperative. The weighted average score was 2.43 which means that members’
expectation about acquiring technical skills was partially met. Very few of the
respondents mentioned this expectation was more than met and 71 said their expectation
was met but 53 and 52, respectively had not met and partially met.
Aside from the members personal expectation, there were other expectation that
the cooperative should meet in relation to the community. Member expects the
cooperative to contribute to their town fiesta celebrations, the cooperative to help in the
community development projects, and the cooperative to give aid to the poor families in
the community. It was found that the first and the second expectations were only partially
met. While the cooperative had been contributing to the community of Tubao every town
fiesta and in some community development projects, some members expected that it
should also do the same for other towns in La Union where the other respondents came
from. The third expectation had an all met rating which shows that the cooperative had
been helping families poor families in the town of Tubao and even in nearby
municipalities of La Union.
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
16
Members Participation to General Assembly
Meetings of the Cooperative
Table 4 presents that majority (55%) of the responds said they sometimes
attended the general assembly meeting but sometimes they did not. The two common
reason for not attending the general assembly meeting were: the places of the members
are far from the cooperative and the time or schedule of the general assembly meeting
was in conflict with their work time. Not all the members are from Tubao because the
cooperative membership covered the whole province of La Union so that many are far
from the cooperative. Apart from being far from the cooperative, most of the members
are employees and some are busy with their business. There were 42% who always
attended the cooperative’s general assembly meeting while 8 or 3% did not respond.
This finding implies that most of the members attended the general assembly
meetings of the cooperative.
The reasons for attending the general assembly meeting were as follows: to be
updated on the programs or activities of the cooperative as mentioned by 78%. Forty
seven percent attended the general assembly inorder to participate in the election and
business meeting while 45% attended the general assembly meeting because the
cooperative is giving incentives to members who participate like, meal and transportation
allowances of P150 per member. Some members suggested that instead of cash incentive
the cooperative should provide the food so that the members would time for bonding or
socializing while having their meals.
This finding implies that members have different motivations in attending the
general assembly meeting of the cooperative.
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
17
Table 4. Attendance of members to the general assembly meeting and their reasons for
Attending
PARTICULARS
FREQUENCY PERCENTAGE
Frequency of Attending General Assembly Meeting
Always
126
42
Sometimes
166
55
No Respond
8
3
TOTAL
300
100
Reasons for Attending General Assembly Meeting
To be updated on the programs/activities
234
78
To avail of the incentives
136
45
To participate in election/business meeting
141
47
Level of Satisfaction from the Services
of the Cooperative
The services offered by the cooperative and availed by the members are: savings
and time deposit, productive and providential loan, and educational assistance. Table 5
presents that for savings deposit and time deposit 15 were not satisfied, 44 were partially
satisfied, 87 were satisfied, and 61 were very much satisfied on the interest rate offered
by the cooperative. The weighted average of 2.72 shows that members were satisfied on
the interest rate offered by the cooperative. Members were also satisfied, shown by the
weighted average of 2.85, that no tax is withhold from the interest earned on savings and
time deposit unlike the banks. In the same manner, members were also satisfied that
through their deposits they contribute to the funds of the cooperative. They are also
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
18
Table 5. Level of satisfaction received by members from the services of the cooperative
LEVEL OF SATISFACTION
PARTICULARS
1
2
3
4
WF WA D
F
F
F
F
1. Savings and Time Deposit
Higher interest rate than the bank
15 44
87 61 564 2.72
S
No withholding tax deducted
6 45
78 72 573 2.85
S
A certain level of self satisfaction being
5 39 101 56 571 2.84
S
able to contribute to the funds of the
cooperative
A peaceful feeling that money is secured
11 29 110 57 598 2.89
S
if invested in the cooperative
2. Productive and Providential Loan
Interest rate and other charges are lower
than the other lending institutions
9 37 117 61 641 2.86
S
Loan requirements and terms are less strict
9 40 119 60 646 2.83
S
than the bank
Can easily avail of loan in times of need
10 40
74 67 540 2.83
S
Can borrow higher amount from the coop
10 44
80 59 530 2.75
S
than from the bank
3. Educational Assistance
Child was able to go to school
27 17
33 28 255 2.43 PS
satisfied that their money deposited in the cooperative is secured because they believe
and trust the people managing the cooperative.
For the productive and providential loan, the interest rate and other charges had a
weighted average rating score of 2.86 which means that members are satisfied. Loan
requirements and terms of loan and the ease of acquiring a loan from the cooperative
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
19
received the same score of 2.83 which means that the members are satisfied. The amount
that can be borrowed by the members had a score of 2.75 which also means that members
are satisfied.
Educational assistance, as one service of the cooperative, received a score of 2.43
which means that members were partially satisfied with this service. There were 27
respondents not satisfied, 17 were partially satisfied, 33 were satisfied, and 28 were very
much satisfied. According to the respondents, they borrowed money from the cooperative
for the education of their children because they cannot all avail of the educational
assistance provided by the cooperative.
Benefits Received from the Cooperative
Table 6 presents the benefits derived by members for being member of Tubao
Credit Cooperative, Inc. Forty seven (16%) responded that they have derived benefit on
attendance to training sponsored by the cooperative. Majority, 166 or(55%) said they
improved their knowledge and skills through attendance to trainings and seminars.
Besides, their self esteem was also improved. They stated that at first they were to shy to
actively participate but continuous exposure to seminars and training improved their
participated. They are now able to expressed their ideas and aspirations. One hundred
fourteen (38%) said their negative perception about cooperative was changed when they
constantly attended seminars, meetings, workshops and other activities of the
cooperative. Very few, 19 (16%) stated that they have visit other places when they
attended training and seminars outside the cooperative. Eighty nine (29%) claimed they
met new friend, 92 (31%) widened their experience, 144 (48%) developed the value of
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
20
Table 6. Benefits derived from the services of the cooperative
BENEFITS DERIVED
FREQUENCY PERCENTAGE
(F)
(%)
Attendance to Trainings/Seminars/Workshops and
Educational Tours
Improved knowledge and skills
166
55
Improved self esteem
19
6
Broadened view about cooperatives
114
38
Able to visit other places
19
6
Able to meet friend
89
29
Widened experience
92
31
Developed the value of thrift
144
48
Economic benefits
Increased savings through patronage refund and
160
53
interest on capital
Stable source of income from investment of
92
31
productive loan
Increase family income
85
28
Able to purchase real property
50
17
thrift because hey could deposit even small amount anytime, 160 (53%) had an
increase in their asset through the patronage refund and interest on share capital.
On the economic benefits received, 50 (17%) recognized that they have been
receiving economic benefits from the use of productive loans. Ninety two or 31%
mentioned, they are gaining income from their investment, 85 (28%) related that the
productive loan increased their family income because the loan was used by the member
in purchasing an income generating asset like passenger jeep, farm machineries and a
piece of land.
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
21
This finding was similar to that of Victor (2008) who said that members derived
benefits from the cooperative in various ways such as: develop habit of thrift and savings,
the cooperative served as training ground for members in simple business operation,
democratic leadership and responsible citizens, and the cooperative offers opportunities
to its members to progress by means of the benefits provided.
Percent Increase in Members Income
From the services provided by the cooperative, the members had an increase in
their family income. Some of the sources were interest on savings and time deposit,
patronage refund and dividend, and income from investment of productive loan acquired
from the cooperative. Table 7 shows the estimated increase in the income of the
respondents in 2008. One hundred five (35%) related that their income increased by 10%
- 15% compared to 2007. Eighty three (28%) had an increase of less than 10% , 40 or
(13%) had 16% - 20%, 15 or (5%) had 21% -25%, while 6 or (2%) had 26% - 30% ,
and 7 (2%) had an increase above 30%. Forty four of the total respondents did not give
their respond regarding this matter.
This finding shows that the cooperative contributed in uplifting the economic
status of the members.
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
22
Table 7. Percent increase in the income of the members in 2008 compared to 2007
PARTICULARS
FREQUENCY
PERCENTAGE
Less than 10%
83
27.70
10% - 15%
105
35.00
16% - 20%
40
13.30
21% -25%
15
5.00
26% - 30%
6
2.00
Above 30%
7
2.33
No Answer
44
14.70
TOTAL
300
100.00
Estimated Increase in Total Asset of Members
Some of the respondents mentioned their total asset increased as an effect of the
economic benefits they received from being a member of the cooperative. Table 8
presents the percent increase in their total asset based on their estimate. One hundred
sixty one (54%) of the total respondents said their total asset increased by less than 100%,
71 or 24% had doubled their total asset and 61(20%) had more than 100% increase. They
mentioned that they borrowed high amount from the cooperative and invested in an
income generating asset or otherwise deposited high amount and gained interest.
This signifies that most of the respondent is receiving economic benefit from the
cooperative
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
23
Table 8. Estimated increase in total asset of members due to economic benefits from the
cooperative
PARTICULARS
FREQUENCY
PERCENTAGE
(F)
(%)
Less than 100%
161
54
Double or 100%
71
24
More than double or > 100%
7
2
No Response
61
20
Total
300
100
Perceptions About the Mortuary Fund
Table 9 Contains the perceptions of members on mortuary fund. Most 219 (73%)
of the respondents said the mortuary fund is beneficial for all members are assured of
financial aid incase of death. Some members who were beneficiary were happy relating
that the amount they received was sufficient for the interment of their loved ones. Not all
the members were happy about the mortuary fund. Sixty (20%) said it is a burden since
they have to contribute every time a member dies . It was a burden because they are older
and are contributing higher amount than the younger members. Twenty nine percent
suggested an increase in the benefit since the purchasing power of the peso is decreasing,
65 (22%) said that the amount of contribution should be decreased .
This finding shows that new members find this contribution a burden but those
who availed of this benefit said that it is beneficial. Some wanted to increase the amount
of mortuary fund but others wanted to decrease the amount of contribution which is the
source of the fund.
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
24
Table 9. Perceptions of respondents about the mortuary fund
PARTICULARS
FREQUENCY* PERCENTAGE
(F)
(%)
Beneficial because family members are assured of
219
73
financial aid in case of death of the member
A burden because members have to pay
60
20
contribution every time a member dies
Amount of benefit should be increased
87
29
Contribution should be decreased
65
22
Multiple Response *
General Impression on the Services of the Cooperative
Table 10 shows the rating of the respondents on the services of the cooperative as
a whole. One hundred seven or 35% of the respondents rate the cooperatives services, as
very satisfactory since their expectations as member were met , ninety or 30% gave a
rating of satisfactory, 81or 27% rated excellent since their expectations were more than
met by the cooperative, and only 2 or 1% rated as unsatisfactory since they received less
benefit because they did not actively patronize the cooperative services while 20 or 7%
did not give comment on the services of the cooperative.
Some said that the cooperative is prompt in providing their services. Others
mentioned they appreciate the cooperative employees, headed by their humane manger,
because they are friendly.
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
25
Table 10. Ratings of the respondents on the services of the cooperative
RATING
FREQUENCY
PERCENTAGE
(F)
(%)
Excellent
81
27
Very satisfactory
107
35
Satisfactory
90
30
Unsatisfactory
2
1
No Response
20
7
Total
300
100
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
26
SUMMARY, CONCLUSIONS AND RECOMMENDATIONS
Summary
This study was conducted at Tubao credit Cooperative, Poblacion La Union. It
aimed to identify the different expectations of members in joining the cooperative and the
level of their fulfillment, to find out the services that are frequently availed by the
members, and to identify the different benefits received by members from the services of
the cooperative. This was classified into two: social and economic benefits.
A survey questionnaire was used to gather the information from the cooperative
members. The researcher explained the questions that were not understood by the
respondents. The data collected was tabulated and analyzed using frequency and
percentage.
It was found out that most of the respondents belong to the age bracket 41-60
years old. Majority were female, married, college graduate, and were employed, in the
government and private institutions .
The respondents mentioned they joined the cooperative because they believe that
the cooperative can help in their financial needs, believe that the cooperative is a better
institution to invest money, and the cooperative is offering a higher interest on savings
deposit than the banks. From their share capital, members also earn dividends or interest
if the cooperative had surplus or profit and lastly they join the cooperative because they
want to support the cooperative to its endeavor by contributing their knowledge and
skills.
It was found that members’ expectations from the cooperative are the following:
members are able to avail of loans, invest money and earn higher interest , avail of
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
27
mortuary aid , members could help others through mortuary aid, they could contribute
their knowledge and skills in the cooperative, participate in the management of the
cooperative , they could meet other people during seminars , and the cooperative
should give aid to poor families in the community. The Likert scale was used to measure
the level of fulfillment of their expectations. The finding shows that majority of the
members expectations were fulfilled. There were some expectation that were not met or
partially met either because the cooperative was not able to meet this expectation like
bring the members to other places on a field trip, or the members were not able to
participate thus not meeting their expectation. The expectations of members that the
cooperative would participate in community undertakings were rated as partially met by
the respondents.
This study found out that all of the cooperative services were frequently availed
by the members except the educational assistance because this is limited and only a few
qualified could avail.
From the services availed, the members derived benefits. This maybe in the form
of social benefits like increase in knowledge and skills, improved personality through
constant attendance to trainings and seminars conducted or sponsored by the cooperative,
or improved savings habits because they could continuously save in the cooperative even
in small amounts which they say it shameful to bring it to the bank. Another type of
benefit derived by members is the economic benefit which could be in the form of
increased savings through patronage refund and interest on share capital, stable source of
income from investments of their loan proceeds from the cooperative and they were able
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
28
to purchase real property or fixed assets like passenger jeep, farm machineries, and a
piece of land.
It was also found that most members find the mortuary fund beneficial.
Beneficiaries were happy that they received amount for the interment of their loved
ones. Only few found it as a burden, specially the new members who are paying a higher
contribution then the old members. Some suggested that the amount of benefit from
mortuary should be increased but on the other hand, other suggested that the contribution
for mortuary should be decreased
It was also found that majority of the respondents evaluated the cooperative
performance as very satisfactory for the cooperative are prompt in providing their
services and they also mention that they appreciate the cooperative employee headed by
their humane manager.
Conclusions
Based from the finding of the study the following conclusions were made:
1.
The members joined the cooperative because they perceived the
cooperative can help them in their financial needs. Most of the members see the
cooperative as a better place to save their money because it gives them higher interest
rate and accepts deposits even in small amounts which banks cannot do. Some members
joined the cooperative because they want to give support to the cooperative in its
endeavors.
2.
The members have two kinds of expectation when they joined the
cooperative: one is for their personal benefit and the other is related to community
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
29
development. Members perceived that their personal expectations were amply met by the
cooperative while that for the community was partially met.
3.
Majority of the members availed almost all the services of the cooperative
except for the educational assistance. This maybe because it is offered to only a few who
could meet the qualifications set by the cooperative. Majority are satisfied with the
services offered by the cooperative except for the educational assistance and the mortuary
fund. Some members perceived the mortuary fund as a burden because of the
contribution. The new members observed the contribution as unfair because they pay a
higher amount than the old members.
4.
There are two kinds of benefits derived by the members from the
cooperative. These are the social benefits in the form of improved social personality and
the economic benefit in terms of increased income and increased savings. Majority of the
members acquired skills through trainings and had improved their camaraderie after some
years of being a member of the cooperative. Members also had an increase in their
savings and their income.
5.
The very satisfactory and excellent ratings of majority of the respondents
on the services of the cooperative is indicative of an excellent performance of the
management staff headed by the manager.
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
30
Recommendations
Based on the conclusions the following were given as recommendations:
1. the cooperative should keep up with its very satisfactory services so that it
could sustain meeting all the members’ expectations. Improve on some services that did
not meet the expectations of members like bringing the members, specially farmers,
housewives and the self employed who had less changes of traveling to visit other places
by sending them to seminars or conducting field trips to other successful cooperatives
even within the regions. This would further boost up their morale and maybe motivated
to increase their patronage in the cooperative.
2. the cooperative could branch out to other municipalities of La Union so that
members from these far municipalities would not be hard up in going to the cooperative
when they want to avail of its service. This would also encourage more people to join the
cooperative and be educated on the advantages of the cooperative over the capitalistic
business. This would also increase the number of people benefited by the cooperative.
This would also meet the expectation of some members regarding involvement in
community development. As of present the assistance of the cooperative is focused
within Tubao. If the cooperative will branch out to other places then the same assistance
would also be given to the other communities where the members reside.
3. So that the new members will not see the mortuary fund contribution as a
burden, the amount of contribution should be equal for all members. This contribution is
a form of assistance and it should come from the heart of the giver. The giving of the
contribution should be explained to all the members that when they give they will also be
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
31
blessed. When the givers have joy in giving then recipient will have a peace of mind
when it receives it.
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
32
LITERATURE CITED
AQUINO, A. ( 1991 ) Primer on the Cooperative code of the Philippines (R.A .NO.
6938). Phoenix press Inc. Quezon Ave., Quezon City. Pp. 16.
ARALAR, R.B. ( 2003 ) Comments on the Cooperative Code of the Philippines,
Published
by National Book Store Pp.12
GARCIA, G.Y. and M.H. GUASON ( 2004 ) Cooperative Publishing House,
Espana, Manila Pp.153.
OYANG, J ( 2006 ) Benefits Derived by members from the Services of Baguio Market
Vendors Multi Purpose Cooperative B.S ,Thesis Benguet State University, La
Trinidad , Benguet Pp.6-7.
QUINTOS, J ( 2008 ) Documentation of the carnation and marketing of Mountain Bloom
Multi-Purpose Cooperative of Englandad, Paoay, Atok Benguet B.S .Thesis.
Benguet State University Pp.4, 6, 7
VICTOR, A.K. ( 2008 ) Members’Perceived Benefit from the Services of Benguet Rural
People’s Multi Purpose Cooperative .B.S thesis Benguet State University Pp.9-10.
ANONYMOUS.N.N. Retrieved
September 20, 20
08
from
WWW.Coperatives,Ucdavis.edu/what is/index.htm
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
33
APPENDIX
A. Letter to the Manager
Republic of the Philippines
Benguet State University
COLLEGE OF AGRICULTURE
La Trinidad, Benguet
DEPARTMENT OF AGRICULTURAL ECONOMICS
AND AGRIBUSINESS MANAGEMENT
December 17, 2008
ROMULUS LAYUG
Manager
Tubao Credit Cooperative
Poblacion, Tubao, La Union
Sir:
Greetings!
I am Jerrigo S. Angligen a fourth year student of Benguet State University taking
up Bachelor of Science in Agribusiness major in Cooperative Management. One of the
requirement for us to graduate is to conduct an undergraduate thesis. In regard to this,
I’ve planned to pursue my study with your prestigious cooperative as the subject. My
defended proposal is entitled “Members’ PerceivedBenefits from the Services of Tubao
Credit Cooperative.”
May I request for your favorable approval to conduct this study and your
assistance with data gathering. May I request a copy of your cooperative’s policy and and
your assistance in the distribution and collection of the survey questionnaires.
Thank you very much. May God Bless us all.
Respectfully yours,
JERRIGO S. ANGLIGEN
Noted by:
LUKE E. CUANGUEY
Department Chairperson
EVANGELINE B. CUNGIHAN
Thesis Adviser
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
34
B. Letter to the Respondents
Republic of the Philippines
Benguet State University
COLLEGE OF AGRICULTURE
La Trinidad, Benguet
DEPARTMENT OF AGRICULTURAL ECONOMICS
AND AGRIBUSINESS MANAGEMENT
December 17, 2008
Dear Respondents,
Warm Greetings!
I am Jerrigo S. Angligen a fourth year student of Benguet State University taking
up Bachelor of Science in Agribusiness major in Cooperative Management. I am
presently conducting my undergraduate thesis entitled “Members’ Perceived Benefits
from the Services of Tubao Credit Cooperative” as a partial requirement for graduation.
May I request your cooperation in honestly answering this attached questionnaire.
Rest assure that your answers will be treated confidentially by the researcher.
Thank you verymuch. May God bless us all.
Respectfully yours,
JERRIGO S. ANGLIGEN
Noted by:
EVANGELINE B. CUNGIHAN
Thesis Adviser
ROMULUS LAYUG
Manager
Tubao Credit Cooperative
Poblacion, Tubao, La Union
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
35
C. Survey Questionnaire
I. PERSONAL INFORMATION
Name (Optional) ___________________________ Sex ( ) Male ( ) Female
Age _______________ Civil Status ( ) Single ( ) Married ( ) Widowed
Occupation: ( ) farmer ( ) employee ( ) businessman/woman ( ) self-employed
( ) Plain housewife (no occupation)
Educational Attainment: ( ) Elementary ( ) highschool ( ) college graduate
II. EXPECTATIONS FROM THE COOPERATIVE
1. What were your expectations when you joined the cooperative? Please rate the level
of fulfillment of your expectations using the scale below:
1 = not met 2 = partially met 3 = all met 4 = more than met
Personal Expectations
1 2 3 4
( ) to avail of loans
( ) to invest my money and gain higher interest
( ) to avail of patronage refund from my loans
( ) to avail of mortuary aid
( ) to help others through the mortuary fund
( ) to contribute my knowledge and skills in the cooperative
( ) to participate in the management of the coop business
( ) to meet other people during seminars
( ) to see other places during field trips
( ) to acquire technical skill in seminars sponsored by the cooperative
( ) others ( pls specify)
2. Other expectations from the cooperative
( ) coop should help/contribute during town fiestas
( ) coop should help in community development
( ) coop should give aid to poor families in the community
( ) others (pls. specify)
II. COOPERATIVE INVOVLEMENT
1. Are you attending the regular general assembly of the cooperative?
( ) always ( ) sometimes
2. Why do you attend the general assembly?
( ) to be updated on the programs/activities of the cooperative
( ) to avail of the incentives for attendance
( ) to participate in the election/business meeting
( ) others ( please specify) _______________________________________________
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
36
3. What are your reasons in joining the cooperative?
( )because I believe that the cooperative can help me in my financial needs
( ) because I believe the cooperative is a better institution to invest my money in.
( ) because I believe in the principles and philosophy of the cooperative
( ) because I want to support the cooperative in its endeavors through my knowledge
and skills.
( ) others (please specify) ______________________________________________
4. What are the services of the cooperative that you availed for the last five years? What
are the benefits you derived from the services? Please check those applicable to you and
rate the level of satisfaction using the scale below:
Scale: (1)dissatisfied
( 2) Partially Satisfied ( 3) Satisfied
( 4 ) very much satisfied
Services
Benefits derived
Level of Satisfaction
availed
1
2
3
4
Savings and
( ) higher interest rate than the bank
time deposit
( ) no with holding tax deducted from
interest
( ) I feel satisfied when I contribute to the
funds of the cooperative
( ) I feel at peace that my money is safe in
the cooperative
Productive and ( ) interest rate and other charges is lower
providential
than other lending institutions
loan
( ) loan requirements and terms are less
strict than the bank
( ) I can easily avail of loan in times of
need
( ) can borrow higher amount from the
coop than from the bank
( ) Others (specify) __________________
Educational
( ) My child was able to go to college
Assistance
( ) Other (specify)__________________
Jewelry pledge ( ) charges are lower than the pawnshops
loan
( ) term of payment is longer than the
pawnshop
( ) my jewelries are more secured in the
cooperative (minimal
risk for robbery)
( ) insurance for my jewelry is higher
( ) higher monetary value than the
pawnshop
5. What other benefits did you derive from being a members of Tubao Credit
Cooperative?
( ) Attendance to trainings/seminar/workshops and educational tour
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
37
___ improved my knowledge and skills
___ improved my self esteem
___ broadened my view about cooperative
___ able to visit other places
___ able to meet new friends
___ widened my experience
( ) I developed the value of thrift
( ) increased in savings through the patronage refund and interest on capital
( ) other (please specify) _____________________________________________
( ) Economic benefits from the use of productive loans
___ Stable source of income from my investment
___ Increase family income
___ able to purchase real property
6. By how much did your income increase last year due to the economic benefit you
derived from the cooperative?
____ less than 10%
___ 10% - 15%
____ 16% - 20%
___ 21% - 25%
___ 26% - 30%
___ above 30%
7. By how much did your total asset increase last year due to the economic benefit you
derived from the cooperative?
( ) less than double
( ) doubled
( ) more than doubled
8. How much have you contributed to mortuary fund for the last five years?
____________
9. What is your perception about the mortuary fund?
( ) it is beneficial because all members are assured of financial help in case of death
( ) it is a burden because members have to contribute every time a member dies
( ) the amount of the benefit should be increased
( ) the amount of contribution should be decreased
( ) others (pls specify) ________________________________________
9. What can you say about the services of your cooperative?
( ) excellent ( your expectations are more than met)
( ) very satisfactory ( all your expectations are met)
( ) satisfactory (most of your expectations are met)
( ) unsatisfactory ( less of your expectations are met)
Members’ Perceived Benefits from the Services of Tubao Credit Cooperative / Jerrigo S. Angligen
Document Outline
- Members� Perceived Benefits from theServices of Tubao Credit Cooperative
- BIBLIOGRAPHY
- ABSTRACT
- TABLE OF CONTENT
- INTRODUCTION
- Rationale of the Study
- Statement of the Problem
- Objectives of the Study
- Importance of the Study
- Delimitation the Study
- REVIEW OF LITERATURE
- Cooperative Defined
- Objective of Cooperatives
- Members Benefits
- METHODOLOGY
- RESULTS AND DISCUSSION
- Profile of the Respondents
- Reasons for Joining the Cooperative
- Members� Expectations from the Cooperative
- Members Participation to General AssemblyMeetings of the Cooperative
- Level of Satisfaction from the Servicesof the Cooperative
- Benefits Received from the Cooperative
- Percent Increase in Members Income
- Estimated Increase in Total Asset of Members
- Perceptions About the Mortuary Fund
- General Impression on the Services of the Cooperative
- SUMMARY, CONCLUSIONS AND RECOMMENDATIONS
- Summary
- Conclusions
- Recommendations
- LITERATURE CITED
- APPENDIX