ANALYSIS OF INFLUENCE OF FINANCIAL SOCIAL LEARNING OPPORTUNITIES ON LOAN REPAYMENT BEHAVIOUR OF COOPERATOR BORROWERS IN ABIA STATE, NIGERIA

This study on analysis of influence of financial social learning opportunities on loan repayment behavior of cooperator borrowers was carried out in Abia State, Nigeria. It was the objectives of the study to relate social learning financial opportunities in cooperative societies and member borrowers budgeting and timely repayment of loans; and determine demographic, social learning and financial factors that influenced loan repayment by cooperator borrowers. Two-stage random sampling technique was used in selecting first, two of the three agricultural zones; and second two registered farmers’ multi-purpose agricultural cooperative societies. This was followed by purposive selection from registers of the chosen cooperative societies sixty cooperators who currently were repaying loans borrowed. Descriptive and inferential statistical techniques were used in analyzing the gathered cross sectional data. Results suggest important relationships between financial social learning opportunities in cooperative societies and borrowers’ budgeting and timely loan repayment behaviours. Attendance to meetings, discussions with fellow cooperators and meaningful observation on financial behaviour of members of cooperative societies had significant positive influences on conduct and performance loan beneficiaries. The number of times beneficiaries attended meeting since after loan(s) were received; number of times they discussed loan matters with members before loan(s) were received; and number of times they discussed loan repayment strategies with other cooperators after loans were received had positive influences on loan repayment behaviour of cooperator borrowers. Cooperator(s) should participate in all union activities to truly belong and reap the benefits of being a member.