Corporate Registry

• How Does a Co-operative Differ from Other Businesses?
• Are There Different Types of Co-ops?

How Does a Co-operative Differ from Other Businesses?

Traditional businesses aim to make profit for the shareholders, who receive their share of that profit according to the amount of money they have invested in the business. Control of the business is also based on the amount of money invested, usually one vote per share purchased.

In a co-operative, each members has one vote no matter how many shares they have purchased. The members elect a Board of Directors who hire and supervise the management of the co-operative. Through their elected Board of Directors, the goals and needs of the members are developed into clear policies which guide the operations of the co-operative to ensure that the members receive the goods and services they desire.

Are There Different Types of Co-ops?

Yes! Most of us are familiar with co-operatives in one form or another – financial (credit unions), service (housing co-ops), consumer (co-op retail stores) or producer co-ops (craft and artists’ co-ops) and worker co-ops (members are the employees). All these co-ops supply services (credit, groceries, marketing) to members.