PinoyDads and Pinoy Entrepreneurs could harness the benefits of a cooperative in setting up a viable cooperation among various interested individuals. A cooperative is a duly registered association of persons with a common bond of interest, who have voluntarily joined together to achieve a lawful common social or economic end, making equitable to contribution to the capital required and accepting a fair share of the risks and benefits of the undertaking in accordance with universally accepted cooperative principle.
The declared purpose of the law governing cooperatives (Republic Act 6938, also known as the Cooperative Code of the Philippines) is to foster the creation and growth of cooperatives as a practical vehicle for promoting self-reliance and harnessing people power towards the attainment of economic development and social justice. Theew are the declared principles of cooperativism.
There are different kinds of cooperatives. In general, these are: (1) Credit cooperative, which promotes thrift and savings among its members and creates funds in order to grant loans for productivity; (2) Consumer cooperative, the primary purpose of which is to procure and distribute commodities to member and non-members; (3) Producers cooperative, which undertakes joint production whether agricultural or industrial; (4) Service cooperative, which engages in medical, and dental care, hospitalization, transportation, insurance, housing, labor, electric light and power, communication and other services; and (5) Multi- purpose cooperative, which combines two or more of the business activities of these different types of cooperatives. In terms of membership, cooperatives are classified as: (a) Primary, wherein the members are natural persons of legal age; (2) Secondary, the members of which are primaries; and (3) Tertiary, the member of which are secondaries upward to one or more apex organizations. Cooperatives whose members are cooperatives are called federations or unions. Please continue reading the full article at blog.pinoy-business.com (Pinoy Entrepreneurs).
Comment by fruity
wa me sabot!!! joke..
please further information about the different cooperatives…
thank you…
Comment by Somibo Cooperative
very informative even brief…keep up the good work…
thank you,
Somibco
Comment by Marclein
hey can you add some examples of cooperatives??
to help some students like me?
thank you for the information…