Perceptions Of Savings and Credit Cooperative Societies (SACCOs) Members towards Credit Utilization behavior in Soroti District, Eastern Uganda

Abstract

Savings and Credit Cooperatives (SACCOs) are important for fostering economic development. This study explored the positive and negative perceptions towards credit utilization and analysed the relationship between perceived usefulness, perceived behavioural control and social influence on credit utilization among SACCO borrowers in Soroti District. The study used mixed methods approaches and used descriptive statistics to analyze the positives and negative perceptions and Spearson Correlation analysis to analyze the association between perceived usefulness, perceived behavioural control and social influence with credit utilization based on the Theory of Planned Behaviour and The Technology Acceptance Model. Findings from this study revealed that there was general positive perception towards credit utilization from SACCOs among the borrowers. Perceived usefulness and perceived behavioural were associated with credit utilization, while there was no association between social influence and credit utilization behaviour. Additionally, perceived behavioral control was influenced by credit terms, political influence and religious beliefs of the borrowers.