An assessment of the financial control system and financial status of credit cooperatives in the Province of Antique

Abstract

Coop managers of 15 credit cooperatives in the Province of Antique were personally interviewed and their financial statements were examined to assess their financial control system and financial status. The findings revealed that most of the coops had moderate to strong financial control system and had borderline to healthy financial status. Most of the coops paid current and long-term obligations and distributed dividends to their members. The coops’ extent of financial control and financial status significantly varied according to their years of existence, initial capital, number of members, number of employees, and educational attainment of managers. No significant relationship exists between the coops’ financial status and extent of financial control.