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Housing cooperative

Co-op Cityin New York is the largest cooperative housing development in the world with55,000 people.

[2]

Main article:Housing cooperative

Ahousing cooperativeis a legal mechanism for ownership of housing where residents either ownshares(share capital co-op) reflecting their equity in the cooperative's real estate, or havemembership and occupancy rights in anot-for-profitcooperative (non-share capital co-op), andthey underwrite their housing through paying subscriptions or rent.

[citation needed]

Housing cooperatives come in three basic equity structures[citation needed]:

In market-rate housing cooperatives, members may sell their shares in the cooperativewhenever they like for whatever price the market will bear, much like any otherresidential property. Market-rate co-ops are very common inNew York City.

Limited equity housing cooperatives, which are often used byaffordable housingdevelopers, allow members to own some equity in their home, but limit the sale price oftheir membership share to that which they paid.

Group equity or zero-equity housing cooperatives do not allow members to own equityin their residences and often have rental agreements well below market rates.

Main article:Building cooperative

Members of a building cooperative (in Britain known as a self-build housing cooperative) poolresources to build housing, normally using a high proportion of their own labour. When thebuilding is finished, each member is the sole owner of a homestead, and the cooperative may bedissolved.

[citation needed]

This collective effort was at the origin of many of Britain'sbuilding societies, which however,developed into "permanent"mutualsavings and loanorganisations, a term which persisted insome of their names (such as the formerLeeds Permanent). Nowadays such self-building may be

financed using a step-by-stepmortgagewhich is released in stages as the building iscompleted.[citation needed]

Utility cooperative

Main article:Utility cooperative

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A utility cooperative is a type ofconsumers' cooperativethat is tasked with the delivery of apublic utilitysuch aselectricity,waterortelecommunicationsservices to its members.Profitsareeither reinvested intoinfrastructureor distributed to members in the form of "patronage" or"capital credits", which are essentiallydividendspaid on a member'sinvestmentinto thecooperative. In the United States, many cooperatives were formed to provide rural electrical and

telephone service as part of theNew Deal.SeeRural Utilities Service.

[citation needed]

In the case of electricity, cooperatives are generally either generation and transmission (G&T)co-ops that create and send power via the transmission grid or local distribution co-ops thatgather electricity from a variety of sources and send it along to homes and businesses.

[30]

In Tanzania, it has been proven that the cooperative method is helpful in water distribution.When the people are involved with their own water, they care more because the quality of theirwork has a direct effect on the quality of their water.

Agricultural cooperative

Grain elevatorsare used by agricultural cooperatives in the storage and shipping of grains.Main article:Agricultural cooperative

Agricultural cooperatives or farmers' cooperatives are cooperatives wherefarmerspool theirresources for mutual economic benefit. Agricultural cooperatives are broadly divided intoagricultural service cooperatives, which provide various services to their individual farmingmembers, and agricultural production cooperatives, where production resources such as land ormachinery are pooled and members farm jointly.

[32]Agricultural production cooperatives are

relatively rare in the world, and known examples are limited tocollective farmsinformersocialist countriesand thekibbutzimin Israel.[citation needed]

Agricultural supply cooperatives aggregate purchases, storage, and distribution of farm inputs fortheir members. By taking advantage of volume discounts and utilizing othereconomies of scale,supply cooperatives bring down members' costs. Supply cooperatives may provide seeds,fertilizers, chemicals, fuel, and farm machinery. Some supply cooperatives also operatemachinery pools that provide mechanical field services (e.g., plowing, harvesting) to theirmembers.[citation needed]

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Agricultural marketing cooperatives provide the services involved in moving a product from thepoint of production to the point of consumption.Agricultural marketingincludes a series ofinter-connected activities involving planning production, growing andharvesting, grading,packing, transport, storage,food processing, distribution and sale. Agricultural marketingcooperatives are often formed to promote specific commodities.[citation needed]

Commercially successful cooperatives include India'sAmul(dairy products) and Malaysia'sFELDA(palm oil).

Credit unions and cooperative banking

Main articles:Cooperative bankingandCredit union

The Co-operative Bank's head office inManchester. The statue in front is ofRobert Owen, apioneer in the cooperative movement.

Credit unionsare cooperativefinancial institutionsthat are owned and controlled by theirmembers. Credit unions provide the samefinancial servicesas banks but are considerednot-for-profitorganizations and adhere tocooperative principles.

Credit unions originated in mid-19th century Germany through the efforts of pioneersFranzHermann Schulze-DelitzschandFriedrich Wilhelm Raiffeisen. The concept of financialcooperatives crossed the Atlantic at the turn of the 20th century, when the caisse populairemovement was started byAlphonse DesjardinsinQuebec,Canada. In 1900, from his home inLvis, he opened North America's first credit union, marking the beginning of theMouvementDesjardins.

[33]Eight years later, Desjardins provided guidance for the first credit union in the

United States,[34]where there are now about 7,950 active status federally insured credit unions,with almost 90 million members and more than $679 billion on deposit.[35]

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While they have not taken root so deeply as inIreland, credit unions are also established in theUK. The largest are work-based, but many are now offering services in the wider community.The Association of British Credit Unions Ltd (ABCUL) represents the majority of British CreditUnions. BritishBuilding Societiesdeveloped into general-purpose savings & bankinginstitutions with "one member, one vote" ownership and can be seen as a form of financial

cooperative (although nine 'de-mutualised' into conventionally owned banks in the 1980s &1990s). The UK Co-operative Group includes both aninsuranceproviderCISand theCo-operative Bank, both noted for promotingethical investment.

Other important European banking cooperatives include theCrdit Agricolein France,Migrosand Coop Bank in Switzerland and theRaiffeisensystem in many Central and Eastern Europeancountries. The Netherlands, Spain, Italy and various European countries also have strongcooperative banks. They play an important part in mortgage credit and professional (i.e. farming)credit.

[citation needed]

Cooperative banking networks, which were nationalized in Eastern Europe, work now as real

cooperative institutions. A remarkable development has taken place in Poland, where theSKOK(Spldzielcze Kasy Oszczednosciowo-Kredytowe) network has grown to serve over 1 millionmembers via 13,000 branches, and is larger than the countrys largest conventional bank.

[citation

needed]

InScandinavia, there is a clear distinction betweenmutual savings banks(Sparbank) and truecredit unions(Andelsbank).[citation needed]

The oldest cooperative banks in Europe, based on the ideas of Friedrich Raiffeisen, are joinedtogether in the 'Urgenossen'.

Federal or secondary cooperatives

Main article:Cooperative Federation

In some cases, cooperative societies find it advantageous to formcooperative federationsinwhich all of the members are themselves cooperatives. Historically, these have predominantlycome in the form of cooperative wholesale societies, and cooperative unions.

[36]Cooperative

federations are a means through which cooperative societies can fulfill the sixthRochdalePrinciple,cooperation among cooperatives, with theICAnoting that "Cooperatives serve theirmembers most effectively and strengthen the cooperative movement by working togetherthrough local, national, regional and international structures."

[37]

See also:List of Co-operative Federations

http://en.wikipedia.org/wiki/Irelandhttp://en.wikipedia.org/wiki/Irelandhttp://en.wikipedia.org/wiki/Irelandhttp://en.wikipedia.org/w/index.php?title=ABCUL&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=ABCUL&action=edit&redlink=1http://en.wikipedia.org/w/index.php?title=ABCUL&action=edit&redlink=1http://en.wikipedia.org/wiki/Building_societyhttp://en.wikipedia.org/wiki/Building_societyhttp://en.wikipedia.org/wiki/Building_societyhttp://en.wikipedia.org/wiki/Demutualizationhttp://en.wikipedia.org/wiki/Demutualizationhttp://en.wikipedia.org/wiki/Demutualizationhttp://en.wikipedia.org/wiki/Insurancehttp://en.wikipedia.org/wiki/Insurancehttp://en.wikipedia.org/wiki/Insurancehttp://en.wikipedia.org/wiki/Co-operative_Insurance_Societyhttp://en.wikipedia.org/wiki/Co-operative_Insurance_Societyhttp://en.wikipedia.org/wiki/Co-operative_Insurance_Societyhttp://en.wikipedia.org/wiki/Co-operative_Bankhttp://en.wikipedia.org/wiki/Co-operative_Bankhttp://en.wikipedia.org/wiki/Co-operative_Bankhttp://en.wikipedia.org/wiki/Co-operative_Bankhttp://en.wikipedia.org/wiki/Ethical_investinghttp://en.wikipedia.org/wiki/Ethical_investinghttp://en.wikipedia.org/wiki/Ethical_investinghttp://en.wikipedia.org/wiki/Cr%C3%A9dit_Agricolehttp://en.wikipedia.org/wiki/Cr%C3%A9dit_Agricolehttp://en.wikipedia.org/wiki/Cr%C3%A9dit_Agricolehttp://en.wikipedia.org/wiki/Migroshttp://en.wikipedia.org/wiki/Migroshttp://en.wikipedia.org/wiki/Migroshttp://en.wikipedia.org/wiki/Friedrich_Wilhelm_Raiffeisenhttp://en.wikipedia.org/wiki/Friedrich_Wilhelm_Raiffeisenhttp://en.wikipedia.org/wiki/Friedrich_Wilhelm_Raiffeisenhttp://en.wikipedia.org/wiki/Wikipedia:Citation_neededhttp://en.wikipedia.org/wiki/Wikipedia:Citation_neededhttp://en.wikipedia.org/wiki/Wikipedia:Citation_neededhttp://www.skok.pl/http://www.skok.pl/http://www.skok.pl/http://en.wikipedia.org/wiki/Wikipedia:Citation_neededhttp://en.wikipedia.org/wiki/Wikipedia:Citation_neededhttp://en.wikipedia.org/wiki/Wikipedia:Citation_neededhttp://en.wikipedia.org/wiki/Wikipedia:Citation_neededhttp://en.wikipedia.org/wiki/Nordic_Countrieshttp://en.wikipedia.org/wiki/Nordic_Countrieshttp://en.wikipedia.org/wiki/Nordic_Countrieshttp://en.wikipedia.org/wiki/Mutual_savings_bankhttp://en.wikipedia.org/wiki/Mutual_savings_bankhttp://en.wikipedia.org/wiki/Mutual_savings_bankhttp://en.wikipedia.org/wiki/Credit_unionshttp://en.wikipedia.org/wiki/Credit_unionshttp://en.wikipedia.org/wiki/Wikipedia:Citation_neededhttp://en.wikipedia.org/wiki/Wikipedia:Citation_neededhttp://en.wikipedia.org/wiki/Wikipedia:Citation_neededhttp://en.wikipedia.org/wiki/Cooperative_Federationhttp://en.wikipedia.org/wiki/Cooperative_Federationhttp://en.wikipedia.org/wiki/Cooperative_Federationhttp://en.wikipedia.org/wiki/Cooperative_federationhttp://en.wikipedia.org/wiki/Cooperative_federationhttp://en.wikipedia.org/wiki/Cooperative_federationhttp://en.wikipedia.org/wiki/Cooperative#cite_note-gide-36http://en.wikipedia.org/wiki/Cooperative#cite_note-gide-36http://en.wikipedia.org/wiki/Cooperative#cite_note-gide-36http://en.wikipedia.org/wiki/Rochdale_Principleshttp://en.wikipedia.org/wiki/Rochdale_Principleshttp://en.wikipedia.org/wiki/Rochdale_Principleshttp://en.wikipedia.org/wiki/Rochdale_Principleshttp://en.wikipedia.org/wiki/Cooperation_among_cooperativeshttp://en.wikipedia.org/wiki/Cooperation_among_cooperativeshttp://en.wikipedia.org/wiki/Cooperation_among_cooperativeshttp://en.wikipedia.org/wiki/International_Cooperative_Alliancehttp://en.wikipedia.org/wiki/International_Cooperative_Alliancehttp://en.wikipedia.org/wiki/International_Cooperative_Alliancehttp://en.wikipedia.org/wiki/Cooperative#cite_note-ica-statistics-37http://en.wikipedia.org/wiki/Cooperative#cite_note-ica-statistics-37http://en.wikipedia.org/wiki/List_of_Co-operative_Federationshttp://en.wikipedia.org/wiki/List_of_Co-operative_Federationshttp://en.wikipedia.org/wiki/List_of_Co-operative_Federationshttp://en.wikipedia.org/wiki/List_of_Co-operative_Federationshttp://en.wikipedia.org/wiki/Cooperative#cite_note-ica-statistics-37http://en.wikipedia.org/wiki/International_Cooperative_Alliancehttp://en.wikipedia.org/wiki/Cooperation_among_cooperativeshttp://en.wikipedia.org/wiki/Rochdale_Principleshttp://en.wikipedia.org/wiki/Rochdale_Principleshttp://en.wikipedia.org/wiki/Cooperative#cite_note-gide-36http://en.wikipedia.org/wiki/Cooperative_federationhttp://en.wikipedia.org/wiki/Cooperative_Federationhttp://en.wikipedia.org/wiki/Wikipedia:Citation_neededhttp://en.wikipedia.org/wiki/Credit_unionshttp://en.wikipedia.org/wiki/Mutual_savings_bankhttp://en.wikipedia.org/wiki/Nordic_Countrieshttp://en.wikipedia.org/wiki/Wikipedia:Citation_neededhttp://en.wikipedia.org/wiki/Wikipedia:Citation_neededhttp://www.skok.pl/http://en.wikipedia.org/wiki/Wikipedia:Citation_neededhttp://en.wikipedia.org/wiki/Friedrich_Wilhelm_Raiffeisenhttp://en.wikipedia.org/wiki/Migroshttp://en.wikipedia.org/wiki/Cr%C3%A9dit_Agricolehttp://en.wikipedia.org/wiki/Ethical_investinghttp://en.wikipedia.org/wiki/Co-operative_Bankhttp://en.wikipedia.org/wiki/Co-operative_Bankhttp://en.wikipedia.org/wiki/Co-operative_Insurance_Societyhttp://en.wikipedia.org/wiki/Insurancehttp://en.wikipedia.org/wiki/Demutualizationhttp://en.wikipedia.org/wiki/Building_societyhttp://en.wikipedia.org/w/index.php?title=ABCUL&action=edit&redlink=1http://en.wikipedia.org/wiki/Ireland