A cooperative 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 (International Cooperative Alliance definition). Cooperatives
are voluntary organisations, based on the values of self-help, democratic principles of
management, equality and solidarity, guided by common principles of action. Members actively
participate in setting policies and making decisions. “Cooperative members contribute to and
control the capital of their cooperative. They usually receive limited compensation, if any, on the
capital they subscribe; and decisions regarding the distribution of surplus (whether towards the
development of the cooperative, for compensation of members, or supporting community
activities) are taken democratically. Cooperatives are autonomous, self-help organizations
controlled by members. If they raise funds from external sources, they do so on terms that
ensure democratic control by members and maintain the cooperative’s autonomy.”
