Question

What are the principles of cooperatives? (Any 5)

Answer 1

1. Voluntary and Open Membership:
Cooperatives are voluntary organizations, open to all people able to use their services and willing to accept the responsibilities of membership, without gender, social, racial, political, or religious discrimination.

2. Democratic Member Control:
Cooperatives are democratic organizations controlled by their members those who buy the goods or use the services of the cooperative who actively participate in setting policies and making decisions.

3. Member’s Economic Participation:
Members contribute equally to and democratically control, the capital of the cooperative. This benefits member in proportion to the business they conduct with the cooperative rather than on the capital invested.

4. Autonomy and Independence:
Cooperatives are autonomous, self–help organizations controlled by their members. If the cooperative enters into agreements with other organizations or raises capital from external sources, it is done so based on terms that ensure democratic control by the members and maintains the cooperative’s autonomy.

5. Education, Training, and Information:
Cooperatives provide education and training for members, elected representatives, managers, and employees so they can contribute effectively to the development of their cooperative. Members also inform the general public about the nature and benefits of cooperatives.