DEFINITION OF A "cooperative"
A cooperative (or co-op) is a business operated and democratically controlled by its membership of Owners to meet their common needs and aspirations. Co-ops are guided by the seven principles.
Seven Co-op Principles
1. Voluntary, Open Ownership
2. Democratic Owner Control
3. Owner Economic Participation
4. Autonomy & Independence
5. Education, Training & Information
6. Cooperation Among Cooperatives
7. Concern For The Community