WORLD COUNCIL OF CREDIT UNIONS, INC.
RESEARCH MONOGRAPH SERIES
I. Introduction
This section presents the monograph’s objective, the survey area and methodology, the data sets developed, and the monograph’s structure including :
A. Objectives of The Monograph
This monograph present survey information about members’ practices and need’s. More specifisially, it provides marketing information to the fourten project credit union’s.
B. Survei Area And Methodology
Survei area initiated a new property alleviation program. The purpose of the program was to, reduce rural property by promoting equitable economic growth and increasing.
C. Data Sets Developed
Three data sets developed :
1, Base line survey data set. This survey elicited information about respondents and their households. 2, Credit union institution record data set. 3, Marketing survey data set. This survey elicited information about respondent.
D. Structure of The Monograph
This monograph is organized as follows : section 2 describes the credit union membership profile. Credit union leaders could use this information to develop marketing.
II. CREDIT UNION MEMBERSHIP PROFILE
This section describes the credit union’s membership profile and present summary statistic.
a. Demographic characteristics of survey respondent
There are five characteristic : 1, Age. 2, Gender. 3, relation ship of membership to household head and household size. 4, Education levels. 5, Length of membership
b. Economic characteristics of survey respondent
This section shows the surveyed members’ occupational categories, income distribution, asset ownership, and business activities.
1. Occupationla categories
2. Income distribution
3. Ownership of assets
4. Respondents business activities
III. Credit Union Members And Non Members Saving Behavior
This section presents survey information about members’ savings and their reasons forsaving; the savers’ characteristics; the members’ primary savings institutions; the members’ savings patterns; and credit unions’ savings mobilization efforts.
A. Who saves why or not
1. Who saves
2. Reasons for not saving in a financial institution
3. Reasons for saving
B. Characteritic of savers
1. Savings behavior of socios and aspirantes
2. Savings behavior by occupational category
3. Primary Savings Institutions of Members and Non-Members
4. Savings patterns
5. Savings Mobilization by Credit Unions
IV. Member And Non Member Perceptions of Credit Unions
This section represents the Market Survey data regarding why individuals joined the creditunions and their satisfaction with credit union services.
A. WHY MEMBERS JOIN AND NON-MEMBERS DO NOT
1. Socios’ and Aspirantes’ Reasons for Joining Credit Unions
Nearly 50% of socios and aspirantes said they joined to have access to the lending services. Access to credit was also a more important reason for socios who joined the credit union in the 1980s and 1990s than for those who joined in earlier periods
2. Difficulties in Joining Credit Unions
Overall, 9% of the socios interviewed reported that they had experienced problems.The joining difficulties mentioned by the socios were the requirements (such assponsorships, obligatory shares deposits, or age limits) (46%), the mandatory orientation talks that they had to receive (35%), the obligatory shares (10%), the complicated application procedures, and inadequate information (6%).
3. Non-Members’ Reasons for Not Joining
Thirty-two percent of non-member respondents “did not know of any credit
unions.” Knowledge of the existence of credit unions was generally lower among the younger (18-34 years) and the older (45-64 years) respondents. Overall, 22% who knew of credit unions had not joined and/or did not use the services of these institutions due to lack of information about the credit unions and their services.
Business entrepreneurs were much more inclined to mention problems with credit unions’ lending practices. Lower income
respondents were also more likely than higher income non-members to mention that they had not joined credit unions, because they were not interested or because they did not need credit union services.
B. MEMBERS’ SATISFACTION WITH CREDIT UNIONS
1. Advantages of Credit Union Membership
Sixty percent of the socios considered credit union lending services to be one of the most important advantages of membership.
2. Attitudes Towards Credit Union Services
Twenty-two percent of socios were more inclined to reinvest the surplus earnings topromote institutional and service building. Thirteen percent of the socios expresseda preference for payment of market interest rates on shares
3. Members’ financial needs
The percentage of socios interested in new credit union services were as follows: 25% would have liked their credit unions to offer water and electricity bill-paying services; 5% were interested in money orders, 5% in automated teller machines, 3% in checking accounts, and 3% in credit cards
