Features of a Good Cooperative

A Co-operative is formed when people with same economic, cultural and social needs come together. The executives of the co-op are chosen democratically. The profit the cooperative makes is shared among those who are members.  Those who are members of the co-op are supposed to receive products and services offered by the co-op at lower prices.  In order for one to become a member of the cooperative, he/she is supposed to fill in an application form, attain the minimum set requirements and buy some shares.  If a person wants to leave the co-op, he/she may dispose of his/her shares. The following are attributes of the best cooperatives.

A good cooperative should be permitted.  A permit is a go-ahead in the operations of the cooperative. An incompetent cooperative is not supposed to get a permit. A permit should have the right security features and a future expiry date.  A good example of a permitted cooperative is Lakeland Co-op.  

A good cooperative should offer a variety of products and services.  In order to constantly make huge profits, a cooperative is supposed to offer many products and services.  For example, the Lakeland Co-op has gas stores, liquor stores, home centers, hardware stores, convenience stores and many more.  You will have more economic benefits after joining a co-op such as Lakeland Co-op.

You are supposed to pick a co-op whose membership application process is easy. By eliminating paperwork in the membership application process, the co-op membership application process is considered easy. One is supposed to fill in a physical or online application form and submit it.  The co-op should go through the form and if the applicant has met all the requirements, approval should be done immediately.  In order to start earning soon, you need to avoid co-op whose membership application processes are complicated.

Before you join a co-op, you should ensure that you shall be receiving products and services at cheaper prices.  Receiving quality products and services at lower prices is one benefit of joining a co-op. For example, the Lakeland Co-op charge its members lower gas prices.  Offering goods and services to the members at lower prices will encourage the members to buy products from the co-op and attract more people to become members.

Before you join a co-op, you need to make sure that the co-op has a top rating.  By offering improved goods and services, a co-op is able to attain a good reputation.  In order to determine whether a co-op has a top rating, you need to read the reviews.

Finally, the best co-ops offer loans to the members at lower interest rates.  The co-ops which offer good loans to the members make huge profits.