Types of Cooperatives
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Cooperatives are often formed to provide their members with goods and services or economic benefits not provided by the marketplace. Thus, co-ops operate a wide variety of businesses. All are owned and run by the people they serve. Here are a few examples:
Consumer Co-ops like the Hanover Consumer Cooperative Society may operate food stores, pharmacies, clothing and sporting goods outlets, bookstores, service stations, hardware and agricultural supply stores, and other retail businesses.
Rural Utility Co-ops have played an important role in serving the needs of rural Americans. Electric co-ops have brought power to over 80 percent of the land area of the United States, and provide water and sewer services to many rural areas. Telephone cooperatives have brought new communication technologies to many people.
Credit Unions provide banking and credit services to over 71 million members in the United States.
Housing Co-ops are home to students, seniors, city dwellers, mobile home park residents, minorities, the handicapped, single parents, and others. Some for whom home-ownership would be out of reach find it possible through a housing cooperative.
Agricultural Co-ops offer individual farmers greater clout in the marketplace by acting as their buying and selling agents. Agricultural supply co-ops allow farmers to purchase supplies at competitive prices, while agricultural marketing co-ops market farm crops and manufacture value-added products.
They include such well-known names as Cabot, Sunkist, Ocean Spray, Land O’Lakes, and Blue Diamond.
Worker Co-ops are owned and controlled by their employees. Worker cooperatives may be found in almost any industry, from restaurants and bakeries to printers and taxicab copanies.
“In cooperatives, men and women have in their hands the tools to fashion their own destiny.”
Murray D. Lincoln
