Abstract: The study examined the influence of rural savings mobilization on the economic development of the rural dwellers. One hundred respondents were sampled with the aid of well structured questionnaire in Akoko North West and Akoko South East Local Government Areas of Ondo State. The study employed multistage sampling techniques. The study also covered Okada riders, petit traders, farmers, catering and food selling and tailoring associations. Result showed that age bracket 21-30 years participated most in rural savings mobilization followed by 31-40 years age bracket. The study also revealed that majority of the respondents had a minimum of primary education among other things, majority of the respondents are self employed. As for the purpose of loans obtained, 56% of total respondents used it to either improve or establish their businesses while 29 and 15% used it for human development (i.e., self and children education) and other unspecified purposes, respectively. The regression results showed that saving mobilization in the rural areas is positively related to investment, asset acquisition, human development and personal income. Hence these socio-economic variables will increase if savings mobilization through rural cooperative movement is encouraged among the rural dwellers. This is an indication that rural saving mobilization is an important factor in the economic development of the rural areas. Hence, rural dwellers should be encouraged to join atlease one rural cooperative society as this will empower them for better living.