BACKGROUND OF THE STUDY
This research work focuses on how cooperative thrift and credit societies influence or enhance member’s living standard. Unlike other cooperative society, thrift and credit societies are formed with the aims of improving the standard living of their members. Thrift and credit societies started from Germany by Fredrick Wilhelm Raifferson in the year 1818, Raifferson is therefore regarded as the father of modern cooperative thrift and credit society.
Thrift and credit society are mostly found in any form of society, community. The popularly known among the rural dweller, even before the mergence of modern cooperatives it serves as a rural bank before the coming of the modern thrift and credit society. The traditional mutual system has been called and addressed by different names, by various communities who practice it inform of traditional saving’s.
However, cooperative societies adopted in virtually all countries of the world for practical all aspect of human endeavour’s modern cooperative organization have penetrated into all the facets of human activities and used of human activities and also to achieve both social and economic goals.
In Nigeria, thrift and credit societies started in the year 1940, by the Roman Catholic teachers for salary earners and primarily to take care of their old age and retirement. Members make regular thrift saving during the period they are under employment and other saving for special purpose could also be made by an individuals if they wished, such saving could be for children’s schools fees, vacation leave etc.
The societies also grant loans to members and such loans are repaid on monthly installmental basis while regular savings continues. No members of such societies may withdraw while still under employment. Usually the society’s money deposited with the post office saving banks.
However, in modern thrift and credit society contributions are not necessarily the same, minimum monthly saving are fixed, and members who share contributions as a regular monthly savings, some are removed directly from-their salaries.

STATEMENT OF THE PROBLEM
The primary aim of any cooperative society is to meet economic, social and cultural needs of members if well operated and managed.

Despite the prospect and significance of thrift and credit cooperative societies, some people are still reluctant in joining or participating in thrift and credit societies. It has unfortunately been discovered that most thrift and credit cooperatives societies are not very effective in the business activities consequently they end up not achieving their goals. As a result of this, the study will try to find out the factor that militates against the enhancement of living standard of its members. Furthermore, in most cases, the members saving are embezzled or misappropriated. It is in the light of this that it is doubtful whether thrift and credit cooperative societies actually perform their roles, that is why this topic is conducted to examine their effect so that the situation can be addressed before it get out or hand.