Socioeconomic Impact of a Credit and Development Cooperative on the Life of Members in the Province of Isabela

Lorna Fulong; Belinda Ramos

doi:doi:10.11648/j.sjbm.20241201.13

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Socioeconomic Impact of a Credit and Development Cooperative on the Life of Members in the Province of Isabela

Lorna Fulong^*, Belinda Ramos

Published in Science Journal of Business and Management (Volume 12, Issue 1)

Received: 16 January 2024 Accepted: 29 January 2024 Published: 21 February 2024

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Abstract

This study delves into the profound socioeconomic implications of a Credit and Development Cooperative (CDC) within the lives of its members and identify operational challenges faced by the cooperative. It also aims to explore and analyze its tangible impact on the lives of its members, shedding light on how their socioeconomic conditions have evolved over time. By employing a descriptive design, a survey questionnaire was utilized, gathering responses from 109 voluntary participants, the research endeavors to comprehensively assess the cooperative's influence on economic well-being, social dynamics, and overall community development. Ethical considerations are paramount, ensuring the protection of participant confidentiality and rights. By analyzing the gathered data, the research illuminates the multifaceted contributions of the cooperative to economic prosperity and social well-being of its members and community development. Furthermore, findings indicate a significant positive impact of the cooperative's services on the socioeconomic well-being of its members. While only 27 members reported encountering issues with cooperative operations, the primary concern was the delay and non-payment of member obligations. This issue, recognized as potentially undermining the cooperative's stability, contrasts with the substantial assistance the cooperative has provided in improving members' socioeconomic lives. Further research is recommended to ascertain the generalization of these results.

Published in	Science Journal of Business and Management (Volume 12, Issue 1)
DOI	10.11648/j.sjbm.20241201.13
Page(s)	18-26
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2024. Published by Science Publishing Group

Keywords

Cooperative, Socioeconomic Impact, Unity and Cooperation, Credit and Development

References

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[3]	Castillo ET & Castillo MD (2017). Cooperatives in the Socio-economic development of the Philippines. A Paper presented to the 10th Asia Pacific Cooperative Ministers’ Conference on April 18-21, 2017 in Hanoi, Vietnam.
[4]	Cooperative Development Authority (2021). Memorandum Circular 2020 series of 2021. Guidelines governing the cooperatives engaged in credit services. Retrieved from https://cda.gov.ph/wp-content/uploads/2021/05/Proposed-MC-For-Consultation-1.pdf
[5]	General Confederation of Agricultural Cooperatives in the European Union (2015). Development of Agricultural Cooperatives in the EU 2014, Brussels.
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[7]	International Cooperative Alliance, Philippines (n.d.). History of Cooperatives in the Philippines. Retrieved from coops4dev.coop/en/4devasia/Philippines.
[8]	International labor Organization (2020). Training Manual: Gender sensitivity training: an introduction to gender analysis in cooperatives. First published July 1994. Retrieved at https://www.ilo.org/manila/publications/WCMS_761804/lang--en/index.htm#:~:text=In%20the.,for%20leadership%20and%20management%20functions
[9]	Karakas, C. (2019). Cooperatives: characteristics, activities, status, challenges. European Parliamentary Research Science. European Union.
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[11]	Nebraska Cooperative Development Center (2015). What is a cooperative? Retrieved from https://ncdc.uni.edu/what-cooperative#/
[12]	Republic Act 9520 (Philippine Cooperative Code of 2008)
[13]	Sancheti, P.(2019). The cooperative movement in the Philippines. Retrieved from https://medium.com/impact-insurance/the-cooperative-movement-in-the-philippines-975e6afc18b9#:~:text=Cooperative%20movements%20are%20deeply%20ro
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[15]	Toquero MJ (2010). Management performance of Quedancor Supervised Cooperatives in Region 2: Its implications in the socio-economic development. Unpublished dissertation study. University of La Salette, Inc. Graduate School Santiago City.
[16]	United Nations (n. d.) Cooperatives in social development. International Cooperative Alliance. Retrieved from https://www.un.org/development/desa/cooperatives/what-we-do/55-2.html
[17]	University of Wisconsin Center for Cooepratives (2003). Retrieved from https://www.wisc.edu/uwcc/
[18]	Wilhoit, J. (2014). Cooperatives: A short history. Cultural Survival. Retrieved from https://culturalsurvival.org/publications/
[19]	Wilson, Majee & Hoyt, Ann (2011) Cooperatives and Community Development: A Perspective on the Use of Cooperatives in Development, Journal of Community Practice, 19:1, 48-61, https://doi.org/10.1080/10705422.2011.550260
[20]	Zeuli K, Lawless G, Deller S, Cropp R, & Hughes W (2003). Measuring the economic impact of Cooperatives: Results from Wisconsin. USDA. Retrieved from rd.usda.gov/files/RR196.pdf.

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APA Style

Fulong, L., Ramos, B. (2024). Socioeconomic Impact of a Credit and Development Cooperative on the Life of Members in the Province of Isabela. Science Journal of Business and Management, 12(1), 18-26. https://doi.org/10.11648/j.sjbm.20241201.13

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ACS Style

Fulong, L.; Ramos, B. Socioeconomic Impact of a Credit and Development Cooperative on the Life of Members in the Province of Isabela. Sci. J. Bus. Manag. 2024, 12(1), 18-26. doi: 10.11648/j.sjbm.20241201.13

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AMA Style

Fulong L, Ramos B. Socioeconomic Impact of a Credit and Development Cooperative on the Life of Members in the Province of Isabela. Sci J Bus Manag. 2024;12(1):18-26. doi: 10.11648/j.sjbm.20241201.13

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@article{10.11648/j.sjbm.20241201.13,
  author = {Lorna Fulong and Belinda Ramos},
  title = {Socioeconomic Impact of a Credit and Development Cooperative on the Life of Members in the Province of Isabela},
  journal = {Science Journal of Business and Management},
  volume = {12},
  number = {1},
  pages = {18-26},
  doi = {10.11648/j.sjbm.20241201.13},
  url = {https://doi.org/10.11648/j.sjbm.20241201.13},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.sjbm.20241201.13},
  abstract = {This study delves into the profound socioeconomic implications of a Credit and Development Cooperative (CDC) within the lives of its members and identify operational challenges faced by the cooperative. It also aims to explore and analyze its tangible impact on the lives of its members, shedding light on how their socioeconomic conditions have evolved over time. By employing a descriptive design, a survey questionnaire was utilized, gathering responses from 109 voluntary participants, the research endeavors to comprehensively assess the cooperative's influence on economic well-being, social dynamics, and overall community development. Ethical considerations are paramount, ensuring the protection of participant confidentiality and rights. By analyzing the gathered data, the research illuminates the multifaceted contributions of the cooperative to economic prosperity and social well-being of its members and community development. Furthermore, findings indicate a significant positive impact of the cooperative's services on the socioeconomic well-being of its members. While only 27 members reported encountering issues with cooperative operations, the primary concern was the delay and non-payment of member obligations. This issue, recognized as potentially undermining the cooperative's stability, contrasts with the substantial assistance the cooperative has provided in improving members' socioeconomic lives. Further research is recommended to ascertain the generalization of these results.
},
 year = {2024}
}

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TY  - JOUR
T1  - Socioeconomic Impact of a Credit and Development Cooperative on the Life of Members in the Province of Isabela
AU  - Lorna Fulong
AU  - Belinda Ramos
Y1  - 2024/02/21
PY  - 2024
N1  - https://doi.org/10.11648/j.sjbm.20241201.13
DO  - 10.11648/j.sjbm.20241201.13
T2  - Science Journal of Business and Management
JF  - Science Journal of Business and Management
JO  - Science Journal of Business and Management
SP  - 18
EP  - 26
PB  - Science Publishing Group
SN  - 2331-0634
UR  - https://doi.org/10.11648/j.sjbm.20241201.13
AB  - This study delves into the profound socioeconomic implications of a Credit and Development Cooperative (CDC) within the lives of its members and identify operational challenges faced by the cooperative. It also aims to explore and analyze its tangible impact on the lives of its members, shedding light on how their socioeconomic conditions have evolved over time. By employing a descriptive design, a survey questionnaire was utilized, gathering responses from 109 voluntary participants, the research endeavors to comprehensively assess the cooperative's influence on economic well-being, social dynamics, and overall community development. Ethical considerations are paramount, ensuring the protection of participant confidentiality and rights. By analyzing the gathered data, the research illuminates the multifaceted contributions of the cooperative to economic prosperity and social well-being of its members and community development. Furthermore, findings indicate a significant positive impact of the cooperative's services on the socioeconomic well-being of its members. While only 27 members reported encountering issues with cooperative operations, the primary concern was the delay and non-payment of member obligations. This issue, recognized as potentially undermining the cooperative's stability, contrasts with the substantial assistance the cooperative has provided in improving members' socioeconomic lives. Further research is recommended to ascertain the generalization of these results.

VL  - 12
IS  - 1
ER  -

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Author Information

Lorna Fulong

Office of Research and Development, University of La Salette, Inc., Santiago City, Philippines

Contact Email
Belinda Ramos

Office of Research and Development, University of La Salette, Inc., Santiago City, Philippines

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Plain Text BibTeX RIS

APA Style

Fulong, L., Ramos, B. (2024). Socioeconomic Impact of a Credit and Development Cooperative on the Life of Members in the Province of Isabela. Science Journal of Business and Management, 12(1), 18-26. https://doi.org/10.11648/j.sjbm.20241201.13

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ACS Style

Fulong, L.; Ramos, B. Socioeconomic Impact of a Credit and Development Cooperative on the Life of Members in the Province of Isabela. Sci. J. Bus. Manag. 2024, 12(1), 18-26. doi: 10.11648/j.sjbm.20241201.13

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AMA Style

Fulong L, Ramos B. Socioeconomic Impact of a Credit and Development Cooperative on the Life of Members in the Province of Isabela. Sci J Bus Manag. 2024;12(1):18-26. doi: 10.11648/j.sjbm.20241201.13

Copy | Download

@article{10.11648/j.sjbm.20241201.13,
  author = {Lorna Fulong and Belinda Ramos},
  title = {Socioeconomic Impact of a Credit and Development Cooperative on the Life of Members in the Province of Isabela},
  journal = {Science Journal of Business and Management},
  volume = {12},
  number = {1},
  pages = {18-26},
  doi = {10.11648/j.sjbm.20241201.13},
  url = {https://doi.org/10.11648/j.sjbm.20241201.13},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.sjbm.20241201.13},
  abstract = {This study delves into the profound socioeconomic implications of a Credit and Development Cooperative (CDC) within the lives of its members and identify operational challenges faced by the cooperative. It also aims to explore and analyze its tangible impact on the lives of its members, shedding light on how their socioeconomic conditions have evolved over time. By employing a descriptive design, a survey questionnaire was utilized, gathering responses from 109 voluntary participants, the research endeavors to comprehensively assess the cooperative's influence on economic well-being, social dynamics, and overall community development. Ethical considerations are paramount, ensuring the protection of participant confidentiality and rights. By analyzing the gathered data, the research illuminates the multifaceted contributions of the cooperative to economic prosperity and social well-being of its members and community development. Furthermore, findings indicate a significant positive impact of the cooperative's services on the socioeconomic well-being of its members. While only 27 members reported encountering issues with cooperative operations, the primary concern was the delay and non-payment of member obligations. This issue, recognized as potentially undermining the cooperative's stability, contrasts with the substantial assistance the cooperative has provided in improving members' socioeconomic lives. Further research is recommended to ascertain the generalization of these results.
},
 year = {2024}
}

Copy | Download

TY  - JOUR
T1  - Socioeconomic Impact of a Credit and Development Cooperative on the Life of Members in the Province of Isabela
AU  - Lorna Fulong
AU  - Belinda Ramos
Y1  - 2024/02/21
PY  - 2024
N1  - https://doi.org/10.11648/j.sjbm.20241201.13
DO  - 10.11648/j.sjbm.20241201.13
T2  - Science Journal of Business and Management
JF  - Science Journal of Business and Management
JO  - Science Journal of Business and Management
SP  - 18
EP  - 26
PB  - Science Publishing Group
SN  - 2331-0634
UR  - https://doi.org/10.11648/j.sjbm.20241201.13
AB  - This study delves into the profound socioeconomic implications of a Credit and Development Cooperative (CDC) within the lives of its members and identify operational challenges faced by the cooperative. It also aims to explore and analyze its tangible impact on the lives of its members, shedding light on how their socioeconomic conditions have evolved over time. By employing a descriptive design, a survey questionnaire was utilized, gathering responses from 109 voluntary participants, the research endeavors to comprehensively assess the cooperative's influence on economic well-being, social dynamics, and overall community development. Ethical considerations are paramount, ensuring the protection of participant confidentiality and rights. By analyzing the gathered data, the research illuminates the multifaceted contributions of the cooperative to economic prosperity and social well-being of its members and community development. Furthermore, findings indicate a significant positive impact of the cooperative's services on the socioeconomic well-being of its members. While only 27 members reported encountering issues with cooperative operations, the primary concern was the delay and non-payment of member obligations. This issue, recognized as potentially undermining the cooperative's stability, contrasts with the substantial assistance the cooperative has provided in improving members' socioeconomic lives. Further research is recommended to ascertain the generalization of these results.

VL  - 12
IS  - 1
ER  -

Copy | Download