How do cooperative societies works?

Co-operative societies are not a new concept. This is almost a universal concept, prevailing across all the countries. The co-operative societies are active in almost all the countries worldwide and are present in all the sectors including agriculture, food, finance, health care, marketing, insurance & credit.

The work pattern and functionality of these co-operative societies is easy to understand and can be summed as under:

· Aim to provide services and supplies (goods)

· Seek to prevent the exploitation of society’s weaker members

· Aim to exclude unnecessary profits of middlemen in commerce and trade

· Ultimately protect the rights of people as both, producers and consumers

More specifically, a cooperative society is a business organization which is owned by those who use its services and its control rests among all its members equally. Recognizing moral, educational and community values, these cooperative societies are voluntary.

Co-operative societies play key role when it comes to development goals. They not only generate income for their members, but also offer a range of benefits. By accomplishing their members’ needs, they ultimately enhance the income standards and secure the livelihood of their members and their communities. By doing these things, co-operative societies ultimately enhance the growth of economy and boost development in the country.

HOW TO BE A MEMBER OF GRACE BOUNTY COPERATIVE SOCIETY (GBCS)

Fill the cooperative form

Collect your savings card with 200 naira only.