We continue our discussion this month about the cooperative-form of business and the seven cooperative principles.
Each month we’ll highlight one of the seven principles and explain what that means to a member-owned, not-for-profit organization like JOEMC. This month we’ll talk about Members’ Economic Participation.
#3 Members’ Economic Participation
Members contribute equitably to, and democratically control, the capital of their cooperative. At least part of that capital is usually the common property of the cooperative. Members usually receive limited compensation, if any, on capital subscribed as a condition of membership. Members allocate surpluses for any or all of the following purposes: developing the cooperative, possibly by setting up reserves, part of which at least would be indivisible; benefiting members in proportion to their transactions with the cooperative; and supporting other activities approved by the membership.