What is a Co-op?

The International Co-operative Alliance (ICA) defines a co-operative as

"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."

Co-operatives tend to follow a set of values and principles. These are defined in the Statement on the Co-operative Identity and have evolved over time to reflect the changing identity and understanding of co-operatives.

Co-operatives are as diverse in their structure as they are in members. Like people, it is impossible to create categories and expect every co-op to fit into only one. Here are a few examples:

* A consumer co-op buys products in bulk and passes on the savings to the members. The members own their store and make decisions about what products to sell, where products come from and other key issues.

* In a worker co-op the member-owners operate their business together and make decisions about all the important issues including wages, production methods and finances.

* A housing co-op gives members secure access to apartment units or houses, which they co-operatively own.

* A producer or marketing co-op allows members to share processing and packaging equipment and pool their marketing to reach more customers. It sells the products of members who may be producers or service providers.

* A multi-stakeholder co-op includes different types of members, with the rights of each class of membership set out in the co-op’s Rules. For example, a produce market co-op may bring together farmers, customers and workers within one co-op.

* A credit union provides a full range of financial services to members.