Question

What are the types of Cooperative societies?

Answer 1

1. Consumers Cooperative:
Consumer cooperatives are organized by consumers, that want to achieve better prices or quality in the goods or services they purchase. In contrast to traditional retail stores or service providers, a consumer cooperative exists to deliver goods or services rather than to maximize profit from selling those goods or services.

2. Producers Cooperative:
Producer cooperatives are created by producers and owned & operated by producers. Producers can decide to work together or as separate entities to help increase marketing possibilities and production efficiency.

3. Marketing Cooperative:
Cooperative marketing societies are associations of small producers formed for the purpose of marketing their produce. The marketing cooperatives perform certain marketing functions such as grading, warehousing, advertising, etc.

4. Credit Cooperative:
Cooperative credit societies are societies formed for providing short-term financial help to their members. Agriculturists, artisans, industrial workers, salaried employees, etc., form these credit societies.

5. Housing Cooperative:
These cooperative housing societies are meant to provide residential accommodation to their members on an ownership basis or on rent. People who intend to build houses of their own join together and form housing societies. These societies advance loans to members, repayable over a period of 15 to 20 years.