Cooperatives are governed by the principle of one member one vote. Cooperatives play a critical role in building community wealth for several key reasons:
- They often provide goods and services in areas that traditional businesses reject as less profitable markets.
- Since many cooperative members are local residents, profits remain in and circulate within the community.
- Cooperatives empower people.
- Cooperatives provide sustainable local jobs.
- Cooperatives can provide solutions for emerging needs.
- Shared ownership results in shared risk, both liability and financial, and reduced expenses for operational costs.
- Co-ops can provide stabilization for changing neighborhoods.
