Abstract:
The study aims to investigate the relationship between financial literacy and among
members saving behaviours of Evangelical Lutheran church of Tanzania Northern
Diocese Savings and Credit Cooperative Society (ELCT-ND SACCOS) in Moshi
Municipality, Kilimanjaro Region, Tanzania. Employing a cross-sectional survey
design, the research will collect and analyze both quantitative and qualitative data to
achieve its objectives. The geographical coverage focuses on ELCT-ND SACCOS
due to its recent resurgence in promoting financial literacy and inclusion among
members, coupled with its diverse investment products and services. The population
comprises 10,800 active SACCOS members, from which a sample size of 386
respondents determined using the Yamane formula. Sampling techniques include
purposive sampling of key informants within the SACCOS and simple random
sampling of individual members. Data collection methods encompass interviews and
survey questionnaires, allowing for a sequential explanatory mixed-method design to
gather comprehensive insights. Reliability and validity of data were ensured through
pretests, internal consistency checks, Cronbach's alpha test, and expert validation of
research instruments. Ethical considerations for conducting research was adhered
throughout the research process; involving obtaining clearance, permission, informed
consent, and maintaining confidentiality. Data analysis techniques encompass
descriptive statistics, cross-tabulation, and binary logistic regression to explore
financial literacy levels, factors influencing investment decisions, and the
relationship between financial literacy and investment behaviour. The study
concluded that financial attitude and financial management are statistically
significant to savings behaviours among SACCOS members. Further, financial
awareness has no statistical significance on SACCOS member's saving behaviours.
Based on the conclusion it was recommended that policy makers should create and
endorse programs that emphasize financial literacy. Further, the ELCT-ND SACCOS
members themselves should actively engage in the educational opportunities
provided in their organization
