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Member – person either natural or Common Bond of Interest – certain

juridical commonality among the cooperative


members.
General Assembly – full membership
of the cooperative duly assembled for Associational – same club or
the purpose of exercising all rights and organization, same profession,
performing all obligations or same labor union.
Institutional – same industrial
Board of Directors – body entrusted plant, same government
with the management of the affairs of institution, same store, same
the cooperative business firms or same church.
Residential – same barangay,
Committee – body entrusted with city, municipality, province, or
specific functions and responsibilities rural or urban community.
pertaining to by laws Occupational – same
occupation or industry
Articles of Cooperation – articles of
cooperation, and includes a registered Cooperative Principles
amendment thereof 1. Open and Voluntary – open to
the public
By – laws – by – laws registered under 2. Democratic Control –
the code of cooperatives and any controlled by its members
registered amendment 3. Members’ Economic
Participation – contribution and
Registration – operative act of control
granting juridical personality to a 4. Autonomy and Independence –
proposed cooperative self-help organizations
5. Education, Training and
Cooperative Development Authority – Information – vote, educate,
government agency in charge of etc.
registration and regulation of 6. Cooperation among
cooperatives. Cooperatives – strengthen
cooperative movement through
Universally Accepted Principle – camaraderie.
body of cooperative principles adhered 7. Concern for Community –
to worldwide by cooperatives in other sustainable development of
jurisdictions. communities
Cooperative Principles (Worldwide) 3. Producers Cooperative –
1. Cash Trading – ensures the owned and democratically-
presence of stocks, ability to controlled organizations that
respond to members’ needs and serve their members
consistent patronage from through cooperative marketing,
members support and/or purchasing.
2. Felt need in the community – 4. Marketing Cooperative –
cooperative established must be organization owned and
the one needed by the operated by a group of farmers
community 5. Service Cooperative – persons
3. Adequate Volume of Business engaged in the same occupation
– area of the cooperative is such to deal with common concerns
that sufficient transaction can be 6. Multi – purpose Cooperative –
generalized from combines 2 or more of the
community/members. business activities of these
4. Selling at Prevailing Market different types of cooperatives
Price – promote stability, 7. Entrepreneur Worker
innovation of new products, and Cooperative (ECW) – owned
be different from competitor’s and self-managed by its workers
price
5. Continuous Expansion –
campaign for more
membership, more members
mean more business and
encourage its members to
constantly build up their share
capital ownership, to save
regularly, and to patronize the
goods and services of the coop.
6. Autonomy and Independence –
controlled by members

Types of Cooperative
1. Credit Cooperative – borrow
money at lower interest from
money saved by the group
2. Consumer Cooperative –
cooperative business owned by
its customers for their mutual
benefit