THE CONTRIBUTION OF UMURENGE SACCO SERVICE TO THE SOCIO ECONOMIC DEVELOPMENT OF THEIR MEMBERS. CASE STUDY: SACCO KANIGA- TUGENDANE N’IGIHE(2019-2022)

Abstract

The main objective of this study was to analyze the role of Umurenge SACCO on the socio- economic development of their members. The specific objectives of this study are as follows:To examine the effectiveness of service offered by SACCO KANIGA TUGENDANE N’IGIHE,To find out the contribution of SACCO KANIGA TUGENDANE N’IGIHE service on Socio- Economic of its members.The following are the research questions for this research:Does SACCO KANIGA TUGENDANE N’IGIHE Manage its services effectively?,Does SACCO KANIGA TUGENDANE N’IGIHE contribute to the socio-economic development of members? From the above research questions, anticipated responses can be developed as follows:SACCO KANIGA TUGENDANE N’IGIHE Manage its services effectively.SACCO KANIGA TUGENDANE N’IGIHE contributes to the socio-economic development of their members.The primary data and secondary data assessment, finds that SACCO KANIGA TUGENDANE N’IGIHE, is offering common services as SACCOs, the only difference is linked to the size of income, assets, technology and staff as well as infrastructure. SACCO institutions under which SACCO KANIGA TUGENDANE N’IGIHE belongs, it offers many financial services to the clients/customers and the main preferred by the customers are as follows, 18% of customers prefer savings, 22% prefer money security including saving and withdrawing, 51.1% prefer access to loan and 8.5% prefer training and advices from others. Thus, the preferred service from these offered by SACCO KANIGA TUGENDANE N’IGIHE is accessing to loan.The findings showed that the respondents agree that SACCO KANIGA TUGENDANE N’IGIHE aggressively market on the benefits its services to customer beneficiaries. The study found that the respondents agreed that SACCO KANIGA TUGENDANE N’IGIHE provides training on record keeping, on how to communicate with customers and how to utilize loans granted. As confirmed by 100% of the respondents, the application of loan within SACCO KANIGA TUGENDANE N’IGIHE is a right granted to all customers. Thus, it is concluded that, the first hypothesis is valid and confirmed by the researchers that “SACCO KANIGA TUGENDANE N’IGIHE offers financial services to its members”. Therefore, first and second hypothesis which states that was verified and confirmed.