Last seen: 2 years ago
A cooperative society is a voluntary association of individuals who come together to meet their common economic, social, and cultural needs. It operates based on the principles of self-help, mutual assistance, democratic control, and equal participation. Members pool their resources, skills, and efforts to achieve common goals, such as providing goods, services, or financial support. The society is owned and governed by its members, who elect a board of directors to manage its affairs. Surpluses generated by the cooperative are reinvested or distributed among the members according to their participation. Cooperative societies promote inclusivity, solidarity, and sustainable development, fostering a sense of community and empowering individuals to improve their quality of life.
Moreover, cooperative societies foster skill development and capacity building within communities. They often organize training programs,...