The distinction between grants and cooperative agreements revolves around the existence of substantial involvement. Cooperative agreements require greater Federal government participation in the project. Impartiality: It is very necessary to free from partial as well as political control in cooperative society. Characteristics / Features of Co-operative Society. Co-operation: Members help each other. Members allocate surpluses for any or all of the following purposes: developing their co-operative, possibly by setting up reserves, part of which at least would be indivisible; benefiting members in proportion to their transactions with the co-operative; and supporting other activities approved by the membership. Honesty: It is indispensable to the success of the cooperative society to prove the honesty at all levels as well as each member. Representatives (directors/trustees) are elected among the membership and are accountable to them. WebWorker-Owned Cooperatives About Cooperatives About Worker Ownership Consulting + Assistance About Cooperatives A worker cooperative is a business that is owned and controlled by the people who work in the company, rather than just a handful of founders or outside shareholders. Education of members and public in cooperative principles. The relationship can be voluntarily ended 2023 America's Electric CooperativesPrivacy PolicyTerms & Conditions. 0000027242 00000 n 1. What are the Advantages and Disadvantages of Cooperative Society? Creating a stable structure establishes independent co-ops as both social and economic entities in relation to other groups and organizations. A cooperative society is not a new concept. They should be open to any persons who are able and willing to join, accept responsibility as a part of the organization and can use the organizations services. }??|4YKvn y8^}0K9CnjgAyy,\+1 [CDATA[/* >
