Factors Affecting the Illegal Debts of Members of Savings Cooperative in a Private Organization:A Case Study of Thairayon Labour Union Savings and Credit Cooperative Limited

Abstract

    This research aimed to study (1) the socio economic condition of members of Thairayon Labour Union Savings and Credit Cooperative Limited, (2) the situation and factors affecting the illegal debts of Thairayon Labour Union Savings and Credit Cooperative members, and (3) the role of Thairayon Labour Union Savings and Credit Cooperative in solving the illegal debt problems. Frequency, percentage, and analysis of variance were applied to analyze the data collected from 278 members. The research showed that there was no statistical difference in the illegal debts of the members with difference in gender, education background, monthly salary, monthly expenditure, number of dependants, and length of being membership. The results implied that those personal characteristics had no effect on the amount of the illegal debts. Nevertheless, the findings revealed that the members from 41-50 years of age were in the illegal debts significally higher than other age groups. Furthermore, the analysis pointed out that the cooperative played a significant role in relieving the illegal debts problems. Therefore, the government should promote private organizations to use savings cooperatives as a mechanism for solving the illegal debts of their employees.