MEMBERS IN A
CO-OPERATIVE SOCIETY
The Members are Owners of the Co-operative
They share in the risks and
responsibilities. They finance their Co-operative by
taking out shares. Co-operatives may sometimes borrow money
from banks, from Government or from other sources to assist
in the financing of their operations.
The Members also control their Co-operatives
Supreme authority is vested in
the members at an Annual General Meeting. Through this
meeting members:-
The members have the power to
change the Management Committee if they are not performing
their duties in the best interest of the Co-operative.
The management and direction of the Co-operative is
entrusted to the Board of Directors for a stated period
agreed on by members. The Board employs a Manager who
supervises the day-to-day operations of the Co-operatives.
Members patronize their Co-operatives
The member must make use of the services, which the
Co-operative provides, for example, a fisherman purchases
gears and markets his fish through his co-operative; whilst
the farmer would purchase his feed and fertilizer from the
Co-operative as well as market his produce through his
Co-operative as does the Credit Union member who saves
regularly in his co-operative and borrows money when needed.
In summing up, it can be said that Co-operatives help people
to help themselves. Co-operatives are used to
promote social progress for their members and to help them
to better their economic and social well being. They
operate to provide service for members, and are also a
source of education to their members in teaching them how to
run their affairs.
