The
establishment of community banks by the Federal Government with particular
reference to Umueze Community Bank Enugu was necessitated by the desire of
Government to improve the standard of
living of the urural dwellers and to encourage rapid development of the
communities.
It is in
realization of this objectives that this study is being carried out to
ascertain the impact of these community banks on rural development.
Also the
study is designed to determine the performance the community bank and the
commitment of the staffs to realize this set objectives. The inscriptional survey method was used for
the study with some fractional number of the total members of Umueze Community
Bank Enugu. Both primary and secondary data
were combined in collecting information used for this study.
A total number
of 20 questionnaires were given our, though not all were returned and the
information collected were very useful in achieving the objectives of this
research.
CHAPTER ONE:
INTRODUCTION
1.1
BACKGROUND OF THE
STUDY
1.2
STATEMENT OF THE
PROBLEMS
1.3
OBJECTIVES OF THE
STUDY
1.4
RESEARCH QUESTIONS
1.5
SCOPE OF THE STUDY
1.6
LIMITATIONS OF THE
STUDY
1.7
SIGNIFICANCE OF THE
STUDY
1.8
IMPACT OF COMMUNITY
BACK ON RURAL DEVELOPMENT
1.9
BRIEF HISTORY OF
UMUEZE COMMUNITY BAN
1.10 DEFINITION OF TERMS
1.11 REFERENCES
2.0
DATA COLLECTION,
PRESENTATION AND ANALYSIS
2.1 DATA
COLLECTION
2.2
DATA PRESENTATION
2.3
DATA ANALYSIS
2.4
REFERENCES
3.0
RESEARCH FINDINGS,
RECOMMENDATIONS AND CONCLUSION
3.1 RESEARCH
FINDINGS
3.2
RECOMMENDATIONS
3.3
CONCLUSION
BIBLIOGRAPHY
1.1
BACKGROUND OF THE
STUDY
This study deals with the impact of community Banks on
rural development. But the study is on
the Community Bank in Enugu North Local
Government.
In recent past, our rural dwellers have been finding it
very difficult to save their money and other valuables in the Commercial Banks
in urban areas. This is because of the
enormous paper work involved in opening a savings accounts and also distance in
moving from where they are living to an urban location of commercial
banks. Community Banks are established
financial institution to cater for the savings and credits needs of small scale
producers throughout the country.
Inspite of government policy such as agricultural credit guarantee
scheme, local dwellers face the constraint of not having a collateral to put
down as a security before loans could be secured.
Conclusively, the commutative effect of these trends
above include; low productivities, slow pace to development of the rural areas
low accumulative capital to finance small scale businesses.
1.2
STATEMENT OF PROBEMS
Rural development is now a matter of crucial concern in most developing
countries in general and
(i)
What impact has the
Community Banks creates in rural dwellers.
(ii)
Are the banking
habits of local dweller improved.
1.3 OBJECTIVES
OF THE STUDY
This study is aimed at investing the impact of Community
Banks on rural development. It is also
aimed at showing how Community Banking system had stimulated earning culture to
the populace. To identify the rapid
enhancement of development productive activities in rural and urban areas. To identify the improvement of the economic
status of small producers in the informal sectors of the national economy of
the rural community.
Conclusively, to suggest solutions and possible
recommendations that would enhanced and speed up more development in the rural
areas by the operations of the community banks.
1.4 RESEARCH
QUESTIONS
i.
Are Community Banks
really a modernization and simplification of an otherwise sophisticated banking
system.
ii.
How has the
operation of community banks serve the development needs of the grassroots
people.
1.5
SCOPE OF THE STUDY
The scope of this study is limited only to Enugu North
Local Government. A case study of Umueze
Community Development Association. This
is because of the time involve in covering the whole
1.6
LIMITATIONS OF THE
STUDY
Limitations are challenges that are bound to occur when
carrying out a research project. Some of
the limitations during the course of this project are:
(i) Time Factor: The time
allocated to this project was very short as wished by the researcher.
(iii)
Financial
Constraints: This is a challenge
encountered by the researcher in carrying out the project. It includes transportation fee foolscap fee,
feeding fee as well as photocopying of some relevant information to facilitate
the research project.
(iv)
Lack of equipped
Library: Library was not equipped enough
with current information.
(v)
Apathetic behaviour
of the respondent: This is problem
involve in serving questionnaire and also when collecting it.
1.7
SIGNIFICANCE OF THE
STUDY
It requires a little reasoning to discover that
this research will be of immense benefit
to Community Banks and Local Communities.
It will be relevant to students of business and financial studies.
It will also serve as a literature review for further
researchers.
Further more, this research work will enable Community
Bank to the prospects of their effort toward rural development. The local communities will see the impact of
community banks on rural development.
Imperatively, it will serve as a means of re-discovering
the problem faced by rural communities, and a possible modification to ensure
their continuity.
Conclusively, it would be of immense benefit to the
economy as a whole. This is because the
need for more community banks would arose, and therefore their activities would
oil the wheel of the economy.
1.8
THE IMPACT OF COMMUNITY
BANK ON RURAL DEVELOPMENT
A Community Bank is a self sustaining bank established
owned and managed by a community or a group of communities. The power was given by the federal government
in 1990. the budget speech of the then
president and commander in Chief of the
armed forces, General/Ibrahin Babangida announced the creation of Community
Banks. The first community bank took off
in December 1990.
However, the main reasons of community banks are to
educate the local communities the need or importance of banking services. To encourage the local communities to save
and accumulate capital for small scale investment, provide the banking needs of
local market women, farmers and petty traders.
In
Community Banks help the rural people in depositing of
money in the bank. Through the banks,
the rural people can obtain short-term loans for economic activities. Without these loans the rural people will
find it very difficult to finance their businesses. Through the development of community banks,
long and medium term businessmen can also obtain loans for development purpose.
Further more, the development of community banks on
rural areas has help the people in many ways.
Community banks will provide the long-term capitals for investment and
offer financial and technical advice to investors, they have experts in various
fields who provide the advice investors may need in order to run successful
business. They may carryout investment
in areas such as industry, agriculture and commerce either wholly or in joint
partnership with other, investors, conducting studies or researcher on the
economy. They accept cash deposit
facilities for safe keeping of money belonging to their customers. Such money may be deposited in current,
savings or fixed deposit account.
1.9
HISTORY OF UMUEZE
COMMUNITY BANK
Within this period, there has been a growing enthusiasm
among communities to establish their own banks.
According to statistics out of one thousand three
hundred (1300) licensed banks in
However, this researcher is being carried out on Umueze
community bank in Enugu North Local Government.
The bank was official given license on
However, several project was been carried out by the
bank through the Umueze Community Development
Association like the accesseble
road at Umueze and lower interest rate agricultural loans to farmer.
1.10 DEFINITION OF TERMS
Community: This
means a group of people living together and United by shared interest,
religion, nationality.
Rural dwellers:
This means a group of people dwelling in a rural community.
Development: This
means the improvement in living conditions of the local communities.
Small-scale: This
means a business enterprises with a small capital.
Department | Public Administration |
Project ID Code | PUB0012 |
Chapters | 3 Chapters |
No of Pages | 34 pages |
Methodology | Null |
Reference | YES |
Format | Microsoft Word |
Price | ₦4000, $15 |
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Contact Us On | +2349094562208 |
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