The co-operative, thrift and credit society is now in existence in many institutions of higher learning. Based on this, one might start to wonder what this research topic is all about since such a programme is not a new programme.
All the same, the truth remain that the existence of co-operative, thrift and credit societies in our higher institution is one side lower than the other. This is to say that its present existence concern itself with only a particular section of the institution.
Institution of higher learning presently doing this, only operates for the benefit of academic and non academic staff (who are interested in the movement) in these institutions. Thrift and credit programme for educational institutions with particular references to the students populace.
To this time, student institutions of higher learning have been deprived of enjoying the benefits of being member of co-operative movement as much as there is this need and urgency to inform student with the objective of the co-operative movement.
It is important for the cause of this research project to have a knowledge of the co-operative movement, the world over and in particular, Nigeria. this is because such knowledge and understanding gained, provides an invaluable background of the history and patterns of the co-operatives in different parts of the world.
In the modern form, however the origin of co-operative thrift and credit societies can be traced to the 19th century and to Germany.
In Germany, many of the farmers very small area of land but by working hard and skilful farming, there was just enough to keep the farming going.
The former got their credit from local merchant who charged high rates from them and paid low prices for the farm produce. The result was the farmers were most heavily. Indebted and sank into poverty.
Friendrich Willhelm Raffeissen (1818 – 1888) seeing all the poverty and hardship of farmers, he tried to help, in the light of these, he thought out a plan for a co-operative thrift and credit society in which the good men fund available as loans to co-operative member the property of the borrowed and two guarantors, who had to be members of the society.
History of Institute of Management and Technology (IMT), Enugu. The Institute of Management and Technology (IMT), Enugu came into existence under the East Central State Edict No 10 of 1973, promulgated by the Administrator of East Central Stage Ajre Ukpabi Asika.
Earlier to the establishment of the Institution of Management and Technology Heading to the award of Ordinary Diploma, the Institute of Administration which provided short in service training for civil servants of various grades, the co-operatives studies to co-operative inspectors from the ministry.
The institution were autonomous and located differently, the college of technology, which was part of the ministry of education was directly controlled by the ministry. The Institute of Administration was controlled by the ministry of establishment whole the co-operative college was directly under the ministry of rural development.
All the institution were staffed by civil servants who were ported there from the ministry and could be peposted to other departments or ministries according to the need of the civil servants.
The need to established a higher institution of learning by upgrading the training of our people in technological, mangand and engineering fields arouse in 1970. this need was ugorously pursued in October, 1971, the Ukpabi Asika’s administration deaded to merge the farmer the amfied control of the cabinet office on 1st April 1972.
In October, 1972, a provisional council was charged with determining and recommending to the government would provide higher quality of technologists and technicians, as well as professional and managerial man-power in subject areas indicated by the state and national need.
Institute of Management of Technology was occupying presently three different campuses but new campuses. And the two campuses were merged in 1971. Institute of Management and Technology started with three school but have grown to eight schools and all made up of thirty – five departments.
THE POTENTIALS FOR A CO-OPERATIVE THRIFT CREDIT SOCIETY IN A HIGHER EDUCATION INSTITUTION (A CASE STUDY OF IMT ENUGU)