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.