A cooperative is an association of persons that is owned and controlled by the people to meet their common economic, social, and/or cultural needs and aspirations. Cooperatives are democratically controlled by their members, who actively participate in setting policies and making decisions. Some key features of cooperatives include:
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Voluntary and Open Membership: Cooperatives are voluntary organizations, open to all persons able to use their services and willing to accept the responsibilities and meet the requirements of membership, without gender, social, racial, political, or religious discrimination.
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Democratic Member Control: Members have control over setting policies for the co-op and making decisions for the cooperative. Cooperatives are democratic organizations controlled by their members, who actively participate in setting their policies and making decisions.
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Member Economic Participation: Members contribute equitably to, and democratically control, the capital of their cooperative.
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Autonomy and Independence: Cooperatives are autonomous, self-help organizations controlled by their members.
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Education, Training, and Information: Cooperatives provide education and training for their members, elected representatives, managers, and employees so they can contribute effectively to the development of their cooperatives. They inform the general public, particularly young people and opinion leaders, about the nature and benefits of cooperation.
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Cooperation Among Cooperatives: Cooperatives serve their members most effectively and strengthen the cooperative movement by working together through local, national, regional, and international structures.
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Concern for Community: Cooperatives work for the sustainable development of their communities through policies approved by their members.
Cooperatives can take many forms, including businesses owned and managed by the people who consume their goods and/or services (a consumer cooperative), a housing cooperative, or a volunteer cooperative. Cooperatives are organized to improve bargaining power, reduce costs, obtain products or services otherwise unavailable, and more.
