7 Cooperative PrinciplesIndependence

#4 (Independence): Autonomy & independence set us apart.

By February 21, 2014 No Comments
Cooperatives are autonomous, self-help organizations controlled by their members. If the co-op enters into agreements with other organizations or raises capital from external sources, it is done so based on terms that ensure democratic control by the members and maintains the cooperative’s autonomy.What does it mean?
It means that we are in business to benefit each other (the members), and not a small group of shareholders. And, if the credit union enters into any agreements, it must do so in a way that maintains the cooperative’s member control and autonomy.