Contributions of Cooperative in the Social and Economic Well-Being of Members: Implications for Enhancement

Abstract

This study examined the contributions of cooperatives to the social and economic well-being of members and determined the relationship between members’ profile characteristics and their perceived well-being. The study involved 174 cooperative members who served as respondents. Data were gathered using an adopted survey questionnaire that assessed respondents’ demographic profile and the cooperative’s contributions to their social and economic well-being. The findings revealed that most respondents were married, middle-aged males who had been members of the cooperative for more than three years. The majority were high school graduates and primarily availed themselves of savings and loan services. Results showed that the cooperative contributed positively to both the social and economic well-being of members by providing financial assistance and promoting equality, cooperation, and unity. However, lower contributions were observed in entrepreneurship development, livelihood generation, and poverty alleviation initiatives. Furthermore, members’ profile characteristics generally showed no relationship with their social well-being. Likewise, economic well-being was not associated with most profile variables, except sex, which demonstrated a significant relationship. The study recommends strengthening livelihood, entrepreneurship, and gender-responsive programs to further enhance members’ well-being and maximize the cooperative’s contributions to community development.