COMPUTERIZED LOAN MANAGEMENT SYSTEM OF A COOPERATIVE SOCIETY
ABSTRACT
This project is all about
computerized loan management system. It
covers the major subject on how computer can be made useful to cooperative
societies in order to ease their operations.
computerized loan management system. It
covers the major subject on how computer can be made useful to cooperative
societies in order to ease their operations.
The software package deals with the
way computer are used for generating loan in a cooperative society. The program makes operation easier and faster
also brings about and operation without stress.
way computer are used for generating loan in a cooperative society. The program makes operation easier and faster
also brings about and operation without stress.
The program is simple to operate and
even produce up – to – date information about each member of the society
regarding their financial stand.
even produce up – to – date information about each member of the society
regarding their financial stand.
Generally, it bring about prompt,
effective and efficient service rendered to customers and reduces the running
cost of the society.
effective and efficient service rendered to customers and reduces the running
cost of the society.
TABLE OF CONTENTS
Title page
Approval page
Dedication
Acknowledgement
Abstract
Table of contents
CHAPTER ONE
1.1
Introduction
Introduction
1.2
Statement
of Problem Loan
Statement
of Problem Loan
1.3
Problem
of Analysis
Problem
of Analysis
1.4
Purpose
of the study
Purpose
of the study
1.5
Scope
and limitation of the study
Scope
and limitation of the study
1.6
Significances
of the study
Significances
of the study
1.7
Methodology
Methodology
1.8
Definition
of unfamiliar Term
Definition
of unfamiliar Term
CHAPTER TWO:
LITERATURE REVIEW
LITERATURE REVIEW
2.1
Introduction
Introduction
2.2
Review
of past project
Review
of past project
2.3
Cooperative
society
Cooperative
society
2.4
Loan
Loan
2.5
Analysis
of the existing system
Analysis
of the existing system
2.6
Factors
Limiting the Existing system
Factors
Limiting the Existing system
2.7
Overview
of the proposed system
Overview
of the proposed system
CHAPTER THREE:
SYSTEM ANALYSIS AND DESIGN
SYSTEM ANALYSIS AND DESIGN
Introduction
3.1
System
Analysis and Design
System
Analysis and Design
3.2
System
Flowchart
System
Flowchart
3.3
Output
Design
Output
Design
3.4
Input
Design
Input
Design
3.5
File
Design
File
Design
CHAPTER FOUR:
IMPLEMENTATION, EVALUATION
IMPLEMENTATION, EVALUATION
AND MAINTENANCE
4.1
Introduction
Introduction
4.2
System
Implementation
System
Implementation
4.3
Installation
Requirements
Installation
Requirements
4.2.1 Installation Procedure
4.2.2 System Testing
4.4
Hardware
Requirements
Hardware
Requirements
4.5
Software
Requirements
Software
Requirements
4.6
Programming
language used
Programming
language used
4.7
Strength
and weakness of the system
Strength
and weakness of the system
4.8
System
maintenance
System
maintenance
4.9
System documentation: users manual
System documentation: users manual
CHAPTER FIVE:
SUMMARY, CONCLUSION
SUMMARY, CONCLUSION
AND RECOMMENDATION
5.1
Summary
Summary
5.2
Conclusion
Conclusion
5.3
Recommendation
Recommendation
REFERENCES
Program Flowchart Symbols.
CHAPTER ONE
1.1
Introduction
Introduction
Loan is a sum of money borrowed i.e.
principal usually for a specific reason or task (e.g. to obtain education build
house purchase car etc.). The entity
lending the money (bank, finance houses cooperative societies, organizations
etc). usually charge interest on the money borrowed and it is paid within a
specific period of time.
principal usually for a specific reason or task (e.g. to obtain education build
house purchase car etc.). The entity
lending the money (bank, finance houses cooperative societies, organizations
etc). usually charge interest on the money borrowed and it is paid within a
specific period of time.
In years past we discovered that man
has been faced with the limitations of availability of founds. Before money came into existence, our fore
fathers proceeded on trade by barter i.e. exchange of goods. But we discovered that some were weather
while others are poor and his lead to borrowing.
has been faced with the limitations of availability of founds. Before money came into existence, our fore
fathers proceeded on trade by barter i.e. exchange of goods. But we discovered that some were weather
while others are poor and his lead to borrowing.
In our contemporary time, there are
still some people that are in need. This
is how borrowing started and banks, cooperative societies, finance houses etc.
has been crated as voluntary sector where lending can be made. Later on, we discovered that there has been
some limitations on the part of these lending sector mainly because they are
manually operating their system. This
calls for the need of computer.
still some people that are in need. This
is how borrowing started and banks, cooperative societies, finance houses etc.
has been crated as voluntary sector where lending can be made. Later on, we discovered that there has been
some limitations on the part of these lending sector mainly because they are
manually operating their system. This
calls for the need of computer.
Computerized loan management system
is the best solution for property loan provider, for an easy and simple way of
managing loans, clients founders and owners.
It also provides complete management and follows up for the organization
of loan data. Part of the need for this
project is that it gives a long term end of the lending market and this also
provides more productive and more efficient service delivered to their
customers.
is the best solution for property loan provider, for an easy and simple way of
managing loans, clients founders and owners.
It also provides complete management and follows up for the organization
of loan data. Part of the need for this
project is that it gives a long term end of the lending market and this also
provides more productive and more efficient service delivered to their
customers.
1.2
Statement of Problem
Statement of Problem
The problem facing the cooperative
society concerning loan management are many, some of the problems are listed
below.
society concerning loan management are many, some of the problems are listed
below.
The problem of time wastage is very
common to the cooperative society which is affecting the progress.
common to the cooperative society which is affecting the progress.
Also human errors in calculation is
affecting the progress of the society because humans are liable to make mistake
during the process of calculation.
affecting the progress of the society because humans are liable to make mistake
during the process of calculation.
Among the problem is insecurity of
customers data which make the customers unhappy about such situation.
customers data which make the customers unhappy about such situation.
There is no privacy in the situation
where by the secret of the customer are easily seen by people this makes the
customers to have a bad view about the society.
where by the secret of the customer are easily seen by people this makes the
customers to have a bad view about the society.
Computerization of loan management
system will be of great advantages to cooperative society in particular with
the following advantages:
system will be of great advantages to cooperative society in particular with
the following advantages:
·
Provision
of statistical based upon previous and present data of the customer
Provision
of statistical based upon previous and present data of the customer
·
Accuracy
and speed are guaranteed
Accuracy
and speed are guaranteed
·
Human
errors are eliminated
Human
errors are eliminated
·
Provision
of better information for commercial loan management
Provision
of better information for commercial loan management
·
Increase
in efficiency and effectiveness in performing related task.
Increase
in efficiency and effectiveness in performing related task.
·
Improved
ability to evaluate exposure due to unused credit facilities.
Improved
ability to evaluate exposure due to unused credit facilities.
·
Gives
better statistics that can play essential roles in making decision and drawing
strategies.
Gives
better statistics that can play essential roles in making decision and drawing
strategies.
With
these few advantages computer becomes an indispensable role in this modern age
and particularly in finance sector.
these few advantages computer becomes an indispensable role in this modern age
and particularly in finance sector.
1.3
Problem Analysis
Problem Analysis
The management of UNITY (IFE) NUT
CICS has been faced with various kinds of problems that have been affecting
their progress. This is majorly because
the system adopted by the society in giving out loan is basically manual. Below are some of the listed short comings of
the society.
CICS has been faced with various kinds of problems that have been affecting
their progress. This is majorly because
the system adopted by the society in giving out loan is basically manual. Below are some of the listed short comings of
the society.
·
Time
wastage
Time
wastage
·
Human
errors in calculation
Human
errors in calculation
·
Ineffectiveness
and lack of efficiency
Ineffectiveness
and lack of efficiency
·
Insecurity
of customer’s data
Insecurity
of customer’s data
·
Monotony
of work
Monotony
of work
·
No
privacy
No
privacy
1.4
Purpose of study
Purpose of study
This project work is to take care of
all the lapses of our case study i.e. UNITY (IFE) NUT CICS. It is to prepare a
computerized system as different from manual system used by the society to
manage her system. This will totally
remove the irregularities and strenuous conditions encountered in the present
manual system as well as considering the criteria for using computer.
all the lapses of our case study i.e. UNITY (IFE) NUT CICS. It is to prepare a
computerized system as different from manual system used by the society to
manage her system. This will totally
remove the irregularities and strenuous conditions encountered in the present
manual system as well as considering the criteria for using computer.
The objective is to analyze the loan
system critically, its policy, procedure and figure out how the system can be
carried out by the society with the minimum input and the maximum output so as
to enhance effectiveness and efficiency.
system critically, its policy, procedure and figure out how the system can be
carried out by the society with the minimum input and the maximum output so as
to enhance effectiveness and efficiency.
1.5
Scope and Limitation of the study
Scope and Limitation of the study
The scope of the project work is
limited to UNITY IFE NUT CICS. It comprises of the collection of facts, which
is used to check the viability of each loan and decide whether such loan is
viable, or not. It is also monitors the
process of various way by which the cooperative society gives out loan an how
loans are rapid. It monitors their
lending service i.e. it take care of interest charged, amount remaining etc.
Development of the system that would be able to accept and store information
about the customer anytime.
limited to UNITY IFE NUT CICS. It comprises of the collection of facts, which
is used to check the viability of each loan and decide whether such loan is
viable, or not. It is also monitors the
process of various way by which the cooperative society gives out loan an how
loans are rapid. It monitors their
lending service i.e. it take care of interest charged, amount remaining etc.
Development of the system that would be able to accept and store information
about the customer anytime.
Finally, the system will facilitate
immediately and easy access to individual customer information and record also
gives a proper security to their data.
immediately and easy access to individual customer information and record also
gives a proper security to their data.
1.6
Significance of the study
Significance of the study
The following are the significance of
the project work.
the project work.
·
Due
to delay observed while attending to the customers, this project work is aimed
at reducing waiting time of customers by quickly attending to the customers
using automated loan system.
Due
to delay observed while attending to the customers, this project work is aimed
at reducing waiting time of customers by quickly attending to the customers
using automated loan system.
·
The
system cold enable easy and immediate access to any customer’s information.
The
system cold enable easy and immediate access to any customer’s information.
·
The
system is the one that will easily be used by any authorized computer literate
in the society by entering appropriate password.
The
system is the one that will easily be used by any authorized computer literate
in the society by entering appropriate password.
·
The
project is to make processing and keeping of customers information in an
effective and efficient manner.
The
project is to make processing and keeping of customers information in an
effective and efficient manner.
·
The
system when developed should be able to be used in monitoring and processing
other lending service of the society.
The
system when developed should be able to be used in monitoring and processing
other lending service of the society.
·
The
program when developed should be the one that could accommodate modifications
whenever there is improvement in the activities of the society, in future.
The
program when developed should be the one that could accommodate modifications
whenever there is improvement in the activities of the society, in future.
1.7
Methodology
Methodology
The method used in carrying out this
project work is first by the analysis of the exiting manual system.
project work is first by the analysis of the exiting manual system.
This is done by studying and
examining in details (i.e. observation), the basic procedure in granting loan
to customers by the management of the society.
examining in details (i.e. observation), the basic procedure in granting loan
to customers by the management of the society.
After the through analysis, personal
interview of the applicants carried out to determine any conflict view on some
of the facts which will likely be misleading and the most generally views are
chosen for the over all determination of particular situation.
interview of the applicants carried out to determine any conflict view on some
of the facts which will likely be misleading and the most generally views are
chosen for the over all determination of particular situation.
1.8
Definition of Unfamiliar Terms
Definition of Unfamiliar Terms
Credit: way of
delayed payment for goods and services, which allows for regular payment over a
period of time.
delayed payment for goods and services, which allows for regular payment over a
period of time.
Guarantor: A
person who guarantee a loan agreement for a member seeking for loan.
person who guarantee a loan agreement for a member seeking for loan.
Interest: A
calculated sum of money with a given rate charged on loan.
calculated sum of money with a given rate charged on loan.
Loan: A sum of
money issued to a person on credit with an accompanying duration of time for
repayment to be done.
money issued to a person on credit with an accompanying duration of time for
repayment to be done.
Reserved fund:
This is a statutory amount that has been reserved in the society before the net
profit is been shared.
This is a statutory amount that has been reserved in the society before the net
profit is been shared.
Shares: This is
the amount contributed once to the society that qualifies him or her as a
stakeholder.
the amount contributed once to the society that qualifies him or her as a
stakeholder.
Thrift: It
refer to a prudent economy i.e. the habit of saving money and spending it
carefully.
refer to a prudent economy i.e. the habit of saving money and spending it
carefully.
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