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.
Co-operatives have been in existence for at least 160 years. They are equitable businesses with a social purpose, democratically owned and controlled by their members. There are nearly three-quarters of a million co-operatives worldwide, providing jobs for over 100 million people - more than are employed by all the multinational corporations in the world.
The UK is the birthplace of the modern co-operative movement. Its founders, the Rochdale Pioneers, were the first to codify co-operative values and principles. Today, these values and principles are expressed in the International Co-operative Alliance (ICA) statement on the identity of co-operatives - the definition of co-operatives used throughout the world. The ICA is the world's largest non-governmental organisation recognised by the United Nations.
ValuesCo-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.
1st Principle: Voluntary and Open MembershipCo-operatives are voluntary organisations, open to all persons able to use their services and willing to accept the responsibilities of membership, without gender, social, racial, political or religious discrimination.
2nd Principle: Democratic Member ControlCo-operatives are democratic organisations controlled by their members, who actively participate in setting their policies and making decisions. Men and women serving as elected representatives are accountable to the membership. In primary co-operatives members have equal voting rights (one member, one vote) and co-operatives at other levels are also organised in a democratic manner.
3rd Principle: Member Economic ParticipationMembers contribute equitably to, and democratically control, the capital of their co-operative. At least part of that capital is usually the common property of the co-operative. Members usually receive limited compensation, if any, on capital subscribed as a condition of membership. Members allocate surpluses for any or all of the following purposes: developing their co-operative, possibly by setting up reserves, part of which at least would be indivisible; benefiting members in proportion to their transactions with the co-operative; and supporting other activities approved by the membership.
4th Principle: Autonomy and IndependanceCo-operatives are autonomous, self-help organisations controlled by their members. If they enter to agreements with other organisations, including governments, or raise capital from external sources, they do so on terms that ensure democratic control by their members and maintain their co-operative autonomy.
5th Principle: Education, Training and InformationCo-operatives provide education and training for their members, elected representatives, managers, and employees so they can contribute effectively to the development of their co-operatives. They inform the general public - particularly young people and opinion leaders - about the nature and benefits of co-operation.
6th Principle: Co-operation among Co-operativesCo-operatives serve their members most effectively and strengthen the co-operative movement by working together through local, national, regional and international structures.
7th Principle: Concern for CommunityCo-operatives work for the sustainable development of their communities through policies approved by their members.
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