“Our broken inner city economy needs a new approach. In today’s economy, holding down a job (or even two) is not enough to get out of poverty. Our cities are full of hard-working poor people. Wage and wealth gaps disproportionately affect people of color, and absentee ownership makes it easier for businesses to make decisions that are disconnected from what is good for workers and for the local community”.

– Project Equity

Cooperatives ~

Cooperative movements involve hundreds of millions worldwide and have existed since the mid 19th century. They tend to flourish at times of economic crisis, when ordinary people bond together to find mutual solutions to societal problems. They are based on seven guiding principles which together result in putting people before profits.

The Seven Cooperative Principles ~

Cooperatives around the world generally operate according to the same core principles and values, adopted by the International Co-operative Alliance in 1995. Cooperatives trace the roots of these principles to the first modern cooperative founded in Rochdale, England in 1844.

(1) Voluntary and Open Membership

Cooperatives are voluntary organizations, open to all people able to use its services and willing to accept the responsibilities of membership, without gender, social, racial, political or religious discrimination.

(2) Democratic Member Control

Cooperatives are democratic organizations controlled by their members—those who buy the goods or use the services of the cooperative—who actively participate in setting policies and making decisions.

(3) Members’ Economic Participation

Members contribute equally to, and democratically control, the capital of the cooperative. This benefits members in proportion to the business they conduct with the cooperative rather than on the capital invested.

(4) Autonomy and Independence

Cooperatives are autonomous, self-help organizations controlled by their members. If the co-op enters into agreements with other organizations or raises capital from external sources, it is done so based on terms that ensure democratic control by the members and maintains the cooperative’s autonomy.

(5) Education, Training and Information

Cooperatives provide education and training for members, elected representatives, managers and employees so they can contribute effectively to the development of their cooperative. Members also inform the general public about the nature and benefits of cooperatives.

(6) Cooperation among Cooperatives

Cooperatives serve their members most effectively and strengthen the cooperative movement by working together through local, national, regional and international structures.

(7) Concern for Community

While focusing on member needs, cooperatives work for the sustainable development of communities through policies and programs accepted by the members.

Source: NCBA CLUSA

Key Resources

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