Definition of a Co-op

A co-operative is an autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly-owned and democratically- controlled enterprise.

Values

Co-operatives are based on the values of self-help, self- responsibility, democracy, equality, equity, and solidarity. In the tradition of their founders, co-operative members believe in the ethical values of honesty, openness, social responsibility, and caring for others.

The Cooperative Principles

Co-ops worldwide share a common creed - known as the "co-op principles." All co-ops operate under these seven principles. The co-op principles serve as an important framework to define the unique ways co-op businesses are structured. They help all co-ops maintain both the spirit and structure of cooperation.

The co-op principles were originally developed in the mid-1800s. They were eventually endorsed by the International Cooperative Alliance, most recently in 1995, as the standards by which all co-ops should operate and by which members maintain democratic control. Co-ops are among very few types of business organizations that adhere to a set of principles.

These principles are significant not just from a historical perspective but also because they outline a democratic structure that can be adapted to businesses providing any of a large variety of services and products.

The co-operative principles are guidelines by which co-ops put their values into practice.

1st Principle: Voluntary and Open Membership

Co-operatives are voluntary organizations, open to all persons and are free of gender, social, racial , political and religious discrimination

2nd Principle: Democratic Member Control.

Co-operatives are democratic organisations controlled by their members, who actively participate in setting their policies and making decisions.

3rd Principle: Member Economic Participation

Members contribute equitably to, and democratically control, the capital of their co-ops.

4th Principle: Autonomy & Independence

Co-operatives are autonomous, self-help organisations controlled by their members.

5th Principle: Education, Training and Information

Co-operatives provide education and training for their members.

6th Principle: Co-operation among Co-operatives

Co-ops work together locally, nationally, regionally and internationally, for the betterment of their members.

7th Principle: Concern for Community

Co-operatives work for the sustainable development of their communities through policies approved by their members.