What is a co-operative?
A co-operative is a business enterprise, made of up people with a common goal. A co-op addresses the predetermined needs of its members, and works towards this goal. In the case of The Wood Co-op our mandate is the collective support of our membership through promotion and education. Learn more about the Wood Co-op here.
A cooperative is a business owned and democratically controlled by the people who use its services and whose benefits are derived and distributed equitably on the basis of use. It is a state-chartered business (called a “domestic cooperative” in New Mexico law) with much in common with other types of businesses: it has similar facilities, provides similar functions and following sound business practices. However, a cooperative also has some distinguishing features, including • Purpose: Cooperatives are formed to provide their owners (who are called “members”) with services or supplies, obtained by their acting together to attain economies of scale and exert bargaining power. • Ownership and control: Equity comes from the members rather than from outside investors. Members control the activities of the cooperative by direct vote and through the elected directors, who are responsible to the members. Each member gets one vote. Most or all of the directors are required to be members of the
