Individual savings in the current day business world and work place have been channelled on a self-arranged/self-managed platform in the nomenclature of cooperatives irrespective of social class and or income group. Cooperatives have become household name in every organisation: its significance is ringing more than bank name now rings. This research analysed the criteria for being a member in cooperatives as well as the extent of satisfaction that members in the cooperatives perceived they had as a result of their membership subscription. Primary data were collected with the aid of structured questionnaire from 396 respondents who are staff of the Ohafenu Awolowo University, Ile-Ife. Results indicated that there was no constraint to being a member inasmuch as the potential applicant is on the University payroll and such a potential member has not violated the floor of limit of take home pay. Method of monthly contribution into cooperative purse is deduction from source through the bursary department. It was also indicated that monthly contribution is based on a member's capacity in terms of how much a person cares to contribute. Eight major areas of members’ investment horizon were identified as having been promoted by cooperative assistance. Eighteen propositions were raised in terms of members’ belief, identification, and satisfaction with their cooperative, six of such propositions had strong support by respondents. Four variables also indicated significant difference among members when tested on t-test scale. Lastly, nine variables were significant in influencing value added for members. In the overall, members were very satisfied with their cooperatives for saving purposes.
Moshood et al. (Mon,) studied this question.