Conclusion
Values and principles manifested by members in a cooperative can be reflected in the financial indicators. The research reveals that among the cooperatives, there is a weak understanding of the cooperative values and principles like member economic participation and wherein the members are not willing to pay their subscribed shares. If the members are not willing to contribute to the cooperatives’ paid up shares then this could hinder the cooperatives to achieve their goals. It manifest that members have weak understanding in the overall values and principles of cooperativism as it was manifested in the financial management of cooperatives. The cooperatives’ finances portrays behavioural nuances in which patterns of paid-up share reveals the commitment of the members. The slow growth pattern in paid-up shares could explain the failures of most cooperatives and their inability to grow. The study suggests that cooperatives should strengthen the commitment of their members and they should not focus on recruiting members with ulterior motives. Every member participating in a cooperative must have full understanding on the values and principles of cooperativism that must be expressed in terms of their economic participation. The lack of support of the members to their respective cooperatives often hinders their growth and it can lead to the cooperative’s demise. In this sense, the members’ acceptance and commitment to the values and principles of cooperativism are vital to the longevity and survival of cooperatives. This also call for a paradigm shift among cooperative leaders in which they should focus on recruiting members who are committed to the cooperative principles rather than focusing on the increase in the number of membership.