Principle of Co-operation
For better understanding of co-operation and the funeral co-operatives it may be best to explain the seven principles of co-operation. The seven principles outline the responsibilities every co-op has to its members and communities.
- Open and Voluntary Membership
Anyone who will accept the responsibility of membership and who can use the services may join the co-operative.
- Democratic Participation
At the local co-op level, each member has one vote, regardless of the amount of shares held. Member-owners control the co-op and have a responsibility to participate in decision making.
- Limited Interest on Share Capital
Co-ops are organized to provide services and are not for investment purposes. Generally, no interest is paid on share capital.
- Surplus Earnings Returned to Members
Surpluses, after expenses and reserve fund holdbacks, are returned to members in proportion to the use they make of the co-op.
- Co-operative Education
Member education is a vital part of co-operatives. Each co-op has an obligation to provide opportunities to help members, elected officials, staff and the general public, in understanding co-operatives and their role.
- Co-operation Among Co-operatives
All co-ops should actively co-operate in every practical way at local, national and international levels.
- Concerns for Community
Co-operatives accept the fact that they are vital and an important component of the communities in which they exist and must take steps to encourage the health of the community.
900 Route 124
Wellington, PE C0B 2E0
Phone: (902) 854-2828
Fax: (902) 854-3293