Abstract

This paper discusses the importance of prudent financial management of thrift and credit co-operative society as it contributes to the fostering economic development, promoting social justice and strengthening political democracy of the rural communities. Thrift and credit co-operative society are concerned about the rural communities in which they exist and operate with emphasis on members and non members needs. Onuoha (1998) stated that, they strive for the sustainable development of rural communities through policies that are respective of the environment and acceptable to the membership. The organization of people in a locality to solve the problems bordering on their lives and that of their rural communities is the main thrust of thrift and credit co-operative society. The needs of the people are multifarious and government alone cannot provide for all these needs due to immense financial constraints and dwindling resources. Thrift and credit co-operative self-help among members become paramount in the development agenda of rural communities especially as a source of community development for rural dwellers.