Co-Operative Society

A co-operative society is an autonomous association of persons united voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly-owned and democratically-controlled enterprise.

A co-operative society is another means for forming a legal entity to conduct business besides forming a company. It pools together human resources in the spirit of self and mutual help with the object of providing services and support to members.

The Co-operative Principles under which a co-operative society operates and carries out its business are :-

1. Voluntary and open membership.
2. Democratic control, one member one vote.
3. Autonomy and independence.
4. Promoting economic activities.
5. Promoting education and information technology.
6. Co-operation among co-operatives.
7. Concern for the social and ecological environment.