There are approximately 10 000 cooperatives and credit unions in Canada alone providing products and services to 18 million members! Each co-op is unique unto itself, but are all membership-based.
Here are some of the reasons why we LOVE co-operative’s and why we hope you will too!
- Co-op’s allow like-minded people to provide themselves with desired goods and services at a reasonable cost.
- Co-op’s have a traditional democratic control model of “1 Member – 1 Vote”. This means decisions are made by all members, and prevents one person or a small group of people from getting control.
- Income generated by the co-op remains in the community.
- Profits not reinvested in the co-op are allocated proportionally and paid back to members based on their volume of business.
- Co-op’s have “Limited Liability” of members. Members / owners liability is limited to the amount of the value of their shares plus any shares that have been purchased but are unpaid.
- Permanence – A co-op enterprise continues even if members / owners leave.
- The co-op movement provides educational and networking opportunities at a local, regional and international level.