Contributions of Cooperatives to the Economic Development

Name of Author : Glenn L. Velmonte

Abstract: It has been observed that in the event the family suffers financially, they usually resort to borrow money from the financial entities. The most common of these strategies is to go cooperatives which are available in most of the Local Government Units. The researcher tries find out answer the question “How cooperative contributes to the economic development of Cebu Province specifically in Consolacion, Medellin, Compostela, Poro and Tudela, Cebu. These municipalities represents respectively the five classes of municipalities, which are, first class, second class, third class, fourth class and fifth class municipality, in relation to its income. Cooperatives generate employment, household income of the members has been increasing, and improve their shelters.

Keywords : cooperative, classes of municipalities, contributions, development, economy

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