A narrative inquiry into the financial journey of credit cooperative members in a higher education institution

Abstract

This narrative inquiry-based study examines the University Employee Credit Cooperative in Iloilo City, Philippines, focusing on its role in promoting financial inclusion within higher education. Established in 2016, the cooperative has experienced limited growth, with few members and staff involved. The research explores members' experiences, highlighting the cooperative's benefits, challenges, and areas for improvement. Grounded in constructivism, the study emphasizes how personal experiences shape perceptions of the cooperative's effectiveness in borrowing, saving, and investing. Key obstacles identified include operational transparency, financial disclosures, and member engagement, which hinder growth. Utilizing Social Capital Theory, Financial Inclusion Theory, and Social Exchange Theory, the study sheds light on cooperative dynamics and the importance of governance and communication. Findings indicate that while the cooperative provides a steady income, significant challenges impede its expansion. The study recommends policy redesign, enhanced governance, and improved member welfare. Ultimately, this research aims to clarify the role of employee credit cooperatives in the Philippines and provide a framework for future studies and practical applications to enhance their sustainability and socioeconomic impact.