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What is a Cooperative?
A cooperative is a duly registered association of persons, with a common bond of interest who have voluntarily joined together to achieve a lawful common social or economic end, and making equitable contributions to the capital required and accepting a fair share of the risks and benefits of the undertaking in accordance with universally accepted cooperative principles.
By forming a cooperative, you pool money, human resources and talent to build capital, and work together to produce more goods and raise incomes. Through cooperatives, you can look for other sources of loans at low interest rates instead of borrowing from informal lenders or usurers. The cooperative can also be a mechanism for marketing your produce.
Objectives of Cooperatives
The primary objective of every Cooperative is to provide goods and services to its members and thus enable them to attain increased income and savings, investments, productivity and purchasing power and promote among them equitable distribution of net surplus through maximum utilization of economies of scale, cost-sharing and risk-sharing without however, conducting the affairs of the cooperative for missionary or charitable purposes.
What are the Purposes in Organizing a Cooperative?
1.To encourage thrift and savings mobilization among the members;
2.To generate funds and extend credit to the members for productive and provident purposes;
3.To encourage among members systematic production and marketing;
4.To provide goods and services and other requirements to the members;
5.To develop expertise and skills among its members;
6.To acquire lands and provide housing benefits for the members;
7.To insure against losses of the members;
8.To promote and advance the economic, social and educational state of the members;
9.To establish, own, lease or operate cooperative banks, cooperative wholesale and retail complexes, insurance and agricultural/industrial processing enterprises, and public markets;
10.To coordinate and facilitate the activities of cooperatives; and
11.To undertake any and all other activities for the effective and efficient implementation of the provision of R.A.6939.
What are the Types of Cooperatives?
Credit Cooperative:promotes thrift and savings among its members and creates funds in order to grant loans for productive and provident purposes.
Consumer Cooperative:The primary purpose is to procure and distribute commodities to members and non-members.
Producers Cooperative:undertakes joint production whether agricultural or industrial.
Marketing Cooperative:engages in the supply of production inputs to members, and markets their products.
Service Cooperative:engages in medical and dental care, hospitalization, transportation, insurance, housing.
Multi- Purpose Cooperative:combines two (2) or more of the business activities of these different types of cooperatives.
What are the Categories of Cooperatives?
Cooperative shall be categorized according to membership and territorial consideration.
In terms of membership, cooperatives shall be categorized into:
Primary-the members of which are natural persons of legal age.
Secondary-the members of which are primaries.
Tertiary-the members are secondaries upward to one (1) or more apex organizations.
Thus, those with cooperative memberships are considered federations or unions as the case may be. In terms of territory, cooperatives shall be categorized according to areas of operation which may or may not coincide with the political subdivisions of the country but, those organized by minors shall be considered a laboratory cooperative and must be affiliated with a registered cooperative. It is governed by special guidelines promulgated by the CDA.
Who can be Members of a Cooperative?
A cooperative has two kinds of members: regular members and associate members
A regular member is entitled to all the rights and privileges of membership as stated in the Cooperative Code and the coops’ by laws.
An associate member has no right to vote and be voted upon and is entitled only to such rights and privileges provided by the cooperative’s by laws.
Philippine Cooperative Code of 2008 read...
Source: Cooperative Development Authority (CDA)
A cooperative is a duly registered association of persons, with a common bond of interest who have voluntarily joined together to achieve a lawful common social or economic end, and making equitable contributions to the capital required and accepting a fair share of the risks and benefits of the undertaking in accordance with universally accepted cooperative principles.
By forming a cooperative, you pool money, human resources and talent to build capital, and work together to produce more goods and raise incomes. Through cooperatives, you can look for other sources of loans at low interest rates instead of borrowing from informal lenders or usurers. The cooperative can also be a mechanism for marketing your produce.
Objectives of Cooperatives
The primary objective of every Cooperative is to provide goods and services to its members and thus enable them to attain increased income and savings, investments, productivity and purchasing power and promote among them equitable distribution of net surplus through maximum utilization of economies of scale, cost-sharing and risk-sharing without however, conducting the affairs of the cooperative for missionary or charitable purposes.
What are the Purposes in Organizing a Cooperative?
1.To encourage thrift and savings mobilization among the members;
2.To generate funds and extend credit to the members for productive and provident purposes;
3.To encourage among members systematic production and marketing;
4.To provide goods and services and other requirements to the members;
5.To develop expertise and skills among its members;
6.To acquire lands and provide housing benefits for the members;
7.To insure against losses of the members;
8.To promote and advance the economic, social and educational state of the members;
9.To establish, own, lease or operate cooperative banks, cooperative wholesale and retail complexes, insurance and agricultural/industrial processing enterprises, and public markets;
10.To coordinate and facilitate the activities of cooperatives; and
11.To undertake any and all other activities for the effective and efficient implementation of the provision of R.A.6939.
What are the Types of Cooperatives?
Credit Cooperative:promotes thrift and savings among its members and creates funds in order to grant loans for productive and provident purposes.
Consumer Cooperative:The primary purpose is to procure and distribute commodities to members and non-members.
Producers Cooperative:undertakes joint production whether agricultural or industrial.
Marketing Cooperative:engages in the supply of production inputs to members, and markets their products.
Service Cooperative:engages in medical and dental care, hospitalization, transportation, insurance, housing.
Multi- Purpose Cooperative:combines two (2) or more of the business activities of these different types of cooperatives.
What are the Categories of Cooperatives?
Cooperative shall be categorized according to membership and territorial consideration.
In terms of membership, cooperatives shall be categorized into:
Primary-the members of which are natural persons of legal age.
Secondary-the members of which are primaries.
Tertiary-the members are secondaries upward to one (1) or more apex organizations.
Thus, those with cooperative memberships are considered federations or unions as the case may be. In terms of territory, cooperatives shall be categorized according to areas of operation which may or may not coincide with the political subdivisions of the country but, those organized by minors shall be considered a laboratory cooperative and must be affiliated with a registered cooperative. It is governed by special guidelines promulgated by the CDA.
Who can be Members of a Cooperative?
A cooperative has two kinds of members: regular members and associate members
A regular member is entitled to all the rights and privileges of membership as stated in the Cooperative Code and the coops’ by laws.
An associate member has no right to vote and be voted upon and is entitled only to such rights and privileges provided by the cooperative’s by laws.
Philippine Cooperative Code of 2008 read...
Source: Cooperative Development Authority (CDA)