Factors affecting the assurance of savings in the cooperatives from the perspective of member: a case study of Assumption University savings & credit coperative limited (AUSCC)

Abstract

The purpose of this study was to examine factors affecting savings in AUSCC, focusing on factors affecting the confidence or assuranceof savings,needs assessment for confidence, andguidelines to enhance the level of confidence ofmembers.Factor analysis, priority need index, and analysis of variance for testing the differencesofAUSCC members’ qualifications towardsthe assurance of savings in AUSCCwere utilized.Thefindings revealed that thedifference in position and salary of AUSCC members has resulted in the different perception towards the competency and experience of management team that affected their confidence ofsavings at a significant level of 0.05.Furthermore, the need assessment analysis found that the factorsforenhancing the confidencelevel of savingsin AUSCC are: ability of management to communicate clearly at meetings; ability to investigate and audit cheating and fraud; knowledge of laws, regulations, and criteria of contract knowledge;strict, independent and fair decisions made by the board members; and good governance and internal control.