(From the Canadian Co-operative Association)

A co-operative is an organization owned by the members who use its services. Co-operatives can provide virtually any product or service, and can be either a non-profit or for-profit enterprise. (Multi-stakeholder co-operatives : The membership of these co-operatives is made of different categories of members who share a common interest in the organization).

Co-operatives exist in every sector of the economy and can touch every aspect of our lives. You can be born in a health care co-op and buried by a funeral co-op. In between you can work in a worker’s co-op, live in a housing co-op, buy your groceries, clothing and other items from retail co-ops, send your children to a child care co-op, do all your banking at a credit union, and purchase your insurance from an insurance co-op.

Co-ops and credit unions provide consumers with a distinct values-based and community-owned and controlled alternative. Unlike the private, public, or voluntary sectors, all co-operatives around the world are guided by the same seven principles:

    1. Voluntary and open membership
    2. Democratic member control
    3. Member economic participation
    4. Autonomy and independence
    5. Education, training, and information
    6. Co-operation among co-operatives
    7. Concern for community

Collectively there are over 10,000 co-operatives and credit unions in Canada providing products and services to over 10 million Canadians.