Financial Management in Co-Operative Financing Agency (A Case Study of Kwara Co-Operative Financial Agency Ltd

INTRODUCTION

         Co-operative financing agencies are not different from other types of business with respect to efficient management of their funds they are required it’s used fund very carefully and judiciously because their source of funds tends to be limited.

         The peculiar limitation imposed by cooperative principles make it very difficult for cooperative to obtain sufficient fund from outside e.g. that interest payment must not exceed a certain percentage. As a catalyst cooperative financing agency pull together the recourses of entire cooperative credit unions and by so doing, mark it possible for credit union to help each other thereby bridging the gap between rich and poor co-operative credit union. The cooperative credit concept is widely recognized on the means to successful improved the standard of living.

         Therefore, through the spirit of cooperative, mutual self help the rich credit union like to lend some of their individual financial strengths to the poor credit union in order to effect imposed credit equipment can the financial strength and mutual protection that unit breads. When a credit union invests part of the member total serving into the Apex’ through the financing programme. It lends its lending power to another by making money available for the credit needs of its member’s and to accord financial relief in the sense of the world.