EVALUATION OF THE RELATIONSHIP BETWEEN SOCIAL CAPITAL AND FINANCIAL INCLUSION: A CASE OF MEMBERS OF COOPERATIVE INVESTMENT AND CREDIT SOCIETY LIMITED, OSUN STATE, NIGERIA
Keywords:
Social Capital, Financial Inclusion, Cooperative members, Access to Savings and Quality of Savings.Abstract
Social capital is a typical example of how a cooperative society operates on the unique value
of self-help and mutual help to promote the well-being of members who have similar
interests through collective action and joint enterprise. Members of Cooperative Investment
and Credit Society Limited (CICSL) in Osun state were the respondents for this study. A
multistage sampling technique was used to obtain data from 864 members of CICSL in Osun
state. Data obtained were analyzed with descriptive and analytical statistics models. Results
from the data analyzed were discussed, and some findings were revealed thatthe
multivariate regression coefficient results showed that the independent variable (x = social
capital) has a positive relationship with the dependent variables (y1= usage of savings
facilities and y2 = quantity of savings facilities). The coefficient of independent variable (x)
is .8893941 for y1 and 1.210582 for y2.As a result of this, all the cooperative societies across
the nation should redouble their efforts in enhancing the social capital (cooperative values)
within and among their cooperative members since it has been established that social
capital has a strong influence in achieving financial inclusion among cooperative members.
