Concerns have also been raised about cooperative organisations' efforts to reduce poverty and generate wealth in the communities in which they operate. Most cooperatives fail to achieve their goal of enhancing members' financial security and well-being, which ultimately results in their dissolution. Thus, this study looked at how cooperative societies in Bayelsa state contribute to wealth development and poverty reduction. In order to accomplish its goals, the study employed a survey research methodology with a structured questionnaire, which was analysed using chi-square and basic descriptive statistics. The study's findings showed that cooperatives help members acquire assets both directly and indirectly (in the form of cash or in kind). The support of cooperative society has enabled the acquisition of a variety of assets, including buildings, cars, gadgets, and land. This helped each member achieve their needs for safety and physiology while also improving the people's economic situation. Members who gained assets after they satisfied their fundamental needs were able to transcend extreme poverty. Asset acquisition is a physical economic progress. Here, cooperatives function as both major contributors to and agents of poverty alleviation. Therefore, in order for cooperative society activities to continue having a good influence on the livelihood of its members in Bayelsa state, it is advised that they be appropriately governed by the government and the relevant agencies.