What is a co-operative?

A co-operative 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.

Co-operatives are enterprises that put people at the centre of their business and not capital. Co-operatives are business enterprises and thus can be defined in terms of three basic interests: ownership, control, and beneficiary. Only in the co-operative enterprise are all three interests vested directly in the hands of the user. Co-operatives put people at the heart of all their business. They follow a broaderset of values than those associated purely with making a profit. Because co-operatives are owned and democratically-controlled by their members (individuals or groups and even capital enterprises) the decisions taken by co-operatives balance the need for profitability with the needs of their members and the wider interests of the community.Co-operatives are also enterprises that follow a set of principles and values - The Co-operative Principles. The Co-operative Identity Statement elaborated in 1995 by the ICA is the internationally recognised definition of the co-operatives, its values, and principles.