What Is A Co-op?
A co-op is a business owned and governed by its customers that operates for their benefit. When people need something they can't get easily or at a reasonable cost, they can start a co-op to get it. Cooperation is a powerful tool to help communities meet local needs.
Co-ops cultivate a sustainable development on a human scale, and provide consumers with housing, health care, day care, elder services, electricity and even banking services (credit unions) as well as food. International co-op principles guide co-op business practices.
Co-op members have certain rights and responsibilities such as:
- Electing the board of directors
- Receiving a copy of the co-op Articles and Bylaws
- Reviewing reports on financial performance at the annual meeting and in the newsletter
- Running for the board of directors (unless employed by the co-op)
- Voting for changes in the articles and bylaws as proposed by the board of directors
- Attending board meetings
- Participating in occasional member surveys