Factors Affecting the Savings of Cooperative Members in the City of Calamba Cooperatives and Livelihood Development Department (CLDD)

Cooperative is a significant tool in savings mobilization. The City of Calamba Cooperatives and Livelihood Development Department (CLDD), established over twenty years, aims for an efficient savings and investment schemes for Calamba residents. This study attempts to identify the determinants of saving behavior of Calamba City cooperative members in assisted by CLDD. Specifically, the study aims to determine the socio-economic characteristics of members, determine the effect of cooperative on the savings of its members, and to determine whether the type of cooperative affects the savings of the members. Using primary and secondary data from the cooperative members and staff of cooperatives members of CLDD in Calamba City, an Ordinary Least Squares (OLS) was conducted to determine the factors that affect the savings of cooperative members. Results show that cooperatives affect the savings mobilization of its members. Among the four types of cooperatives, Credit Cooperative affects the savings of its members the most. The length of membership and credit, are both significant and positively related to savings of members. Other variables found to be significantly affecting savings of cooperative members were sex, age, educational attainment and income.