AN APPRAISAL OF THE ACTIVITIES AND MANAGEMENT METHODS OF ANAMMCO WORKER’S MULTIPURPOSE CO-OPERATIVE SOCIETY LTD.

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ABSTRACT

This project research was aimed to examine the management and activities of the Anammco worker’s multipurpose co-operative society limited, which is located in Emene, Enugu state.

The study is aimed at looking into the aims and objectives of the society, origin and membership, social and business activities; sources of finance of the society; financial benefits to members, assets and liabilities of the society and problems facing the society.

The information gathered from this study was both from primary and secondary sources.

In selecting respondents, the stratified random sampling method was used.  the respondents were the official and members of  Anammco worker’s multi-purpose co-operative society limited.

Questionnaires and oral interviews were used to obtain the required response from the respondents.  The data gathered were systematically analyzed, the present management and activities of the Anammco worker’s co-operative society was revealed through the data analysis.

The finding revealed that officers who are democratically elected annually manage the society.

The business activities of the society include granting loans to her members at a reasonable rate, selling of good quality products at the society’s consumer’s shop.

The social activities in which the society is engaged includes giving her members some form of bonuses or gifts especially during festival seasons; providing help to her members during marriages, funerals, naming ceremonies, accommodation, medical expenses, etc.

The major sources  of finance for the society includes thrift savings, interests from loans granted to members, levies paid by members and also from the mother company, i.e, the Anambra Motoring Company (ANAMMCO).

It was also noted that the society kept some books and records of which include committee General minutes book, member’s register, cash book, personal ledger and attendance register.  Also the study revealed that the society is faced with some problems such as macro and micro factors (effects) effecting the economy, poor government support, etc.

The study made the following recommendations of which includes constant education of both the management and members of the society, establishing a properly equipped consumers shop, the need of more co-operative field officers, electing honest loyal officers, constant evaluation of the society’s aims and objectives.  These and many more will help to add life as well as activate the management and activities of the ANAMMCO worker’s co-operative society limited.

CHAPTER ONE

1.0         INTRODUCTION

1.1   GENERAL INTRODUCTION

The population of this study is limited to the worker’s of ANAMMCO who come together of their own free will to form the ANAMMCO worker’s multipurpose co-operative society Ltd.  This is made up of people who voluntarily associated together as human beings on the basis of equality, for their social-economic interest.

Anammco worker’s multipurpose co-operative society limited has become co-operative that co-operation as a corrective measure to capitalism, has an ideological base that is rooted on democracy, caring and sharing.

The society was formed in August 11 1987 and was incorporated in 25 March 1988, with total membership of 415.  Activities of the society include: granting of loans to members, establishment of staff shop to sell commodities.

Presently, Anammco worker’s multi-purpose co-operative society has about 748 members, among them are 70 females and 678 males.

Anammco worker’s multipurpose co-operative society ltd has about N55,000,000 value of their Assets and N25,000,000 value of liabilities.

Co-operative as social economic society have their record books which they use to record all the financial transactions and the event in the society.  In Anammco multipurpose Limited, they use six record books among them are:-

A)      Committee minutes book

B)       General minute book

C)       Member’s register

D)      Cash book

E)       Personal ledger

F)        Attendance register

As a society that operate in fragile Economic situation, Anammco M.P.L.S are facing many problems which include:

i.                    Macro and Micro effects or factors

ii.                  Poor co-operative spirit

iii.                Lack of co-operative extension workers.

1.2         STATEMENT OF THE PROBLEM

Multipurpose co-operative society as the name implies are societies that engage in all types of business thereby performing more than one function to their members.  They engage in production, offer credit to members and market the members products, buys goods in large quantities for its members, e.t.c.  thus, this type of society enables its members to get all that they require from the society and have more time to  attend to their work.

Multipurpose co-operatives face a lot of problems such a insufficient financial resources; lack of educated personnel management activities often do not conform with co-operative purpose, non-specification of an ideal co-operative purpose to be followed by management over dependence on government, etc.

Hence, this study is concerned with the task of finding out about the general and specific activities of Anammco worker’s multipurpose co-operative society Ltd, with regard to its management, objectives and activities.

1.3         SIGNIFICANCE OF THE STUDY

The prime reason why individuals join co-operatives  is for the fulfillment of their basic needs, thus, their continued patronage and loyalty to the society depends on the society’s ability to meet their needs. 

The study of Anammco worker’s multipurpose co-operatives society Ltd will help us to observe how the above named society carries out its activities and management function.  It will also highlight the various views on the basic objectives and activities of the society.

Also, the study will evaluate the systems of management policy order to determine its application and practical workability.

 Lastly, the study will help to estimate the changes required or to re-interpret the activities and revise the objectives of the society.

1.4         OBJECTIVES OF THE STUDY

i.                    To find out the aims and objectives of Anammco workers M.C.S Ltd.

ii.                  To find out the origin, date registered, membership, sex composition.

iii.                To find out the various social and business activities under-taken by the society.

iv.                To appraise the management of the society.

v.                  To find out sources of finance of the society.

vi.                To find out about financial benefits to members of the society.

vii.              To find out the Assets and Liabilities of the society.

viii.            To find out the problems facing the society.

ix.                To make recommendations for the improved running of the society.

1.5         RESEARCH QUESTIONS

1.      What are the major activities of multipurpose co-operative society?

2.      Who organize the day-to-day function/activities of the society?

3.      How can the quality and performance of management of cooperative societies be improved for effective running of co-operatives?

4.      What kind of achievements has been made by multipurpose cooperatives in the past years?

5.      What sources of finance  are open to multipurpose co-operatives?

6.      How can the operations and workings of multi-purpose co-operatives be improved for better economic development.

AN APPRAISAL OF THE ACTIVITIES AND MANAGEMENT METHODS OF ANAMMCO WORKER’S MULTIPURPOSE CO-OPERATIVE SOCIETY LTD.