Keywords: Federal Mortgage Bank, housing loan, public servants

Abstract

This study addressed a gap in the existing literature on the loan programme for staff housing at Auchi Polytechnic provided by the Federal Mortgage Bank (FMB). It examined staff awareness, accessibility, contributions, and levels of participation, loan applications, workers contentment and availability of housing for employees. Previous studies suffered from a lack of emphasis on increasing knowledge, explaining technical procedures, and fostering employee interest in housing loans that depends on both individual contributions and the duration of engagement. The total population of the study was 814, while 268 was selected as sample size. The study employed mixed-method of survey and documentary design using both primary and secondary sources of information. Based on the regression analysis the study revealed that, there are robust positive connections among the variables of staff, awareness, engagement, housing donations, and loan applications, and by this it established that employee awareness is positively influenced by characteristics such as knowledge, contributions to housing, engagement, and accessibility of loans, and these variables explained 81.22% of the variability in the dependent variable. The study recommended that, management of Auchi Polytechnic and Federal Mortgage bank should organize sensitization programme to educate and promote staff awareness, optimize housing benefits, and review the gray areas that hinder accessibility, participation and loan application processes and elucidates the intricate dynamics of house loan schemes and their impact on the happiness and fulfillment of Auchi Polytechnic, workers.

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Published: 2024

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