What it means to be a co-op

Co-ops exist to help like-minded people address needs that they couldn’t meet on their own. Find out more about the co-operative movement.

What is a co-op?

When people with shared values need similar products and services, what do they do? They start a co-operative.

A co-operative is a business owned by its members. In different types of co-operatives, members can be users, consumers or workers. They control the co-op democratically, share in profits, and benefit from customized products and services.

Co-ops can operate in any industry or sector, run as non-profit or for-profit companies, and thrive equally in urban and rural areas. Financial co-operatives, like ours, commonly operate in Canada as insurance co-ops and credit unions or caisses populaires.

What sets co-ops apart?

Shareholder-run corporations mainly exist to maximize shareholder value. Co-ops, on the other hand, take a , control structure and allocation of profit. They balance their bottom line with the needs of their members and communities, and compete in the marketplace while remaining true to their values. At their core, co-ops are:

• Committed to their clients, members and communities
• Controlled by the people and organizations that use their services
• Conducted in a socially responsible way that promotes

Starting a business of your own?

as a way to structure your organization and engage your community.

What values do co-ops share?

Co-ops around the world put their values into practice through the . These are the principles that guide our decision-making.

Voluntary and open membership

We strive to have diversity in our membership and to bring different perspectives to .

Democratic member control

Our members make up 100% of our Board. They vote in annual meetings, provide strategic input and participate in our charitable committees.

Member economic participation

Our Member Loyalty Program distributes profits to members based on the amount of business they do with us.

Autonomy and independence

All of our strategic decisions are approved by the Board, which is distinctly separate from management.

Education, training and information

We offer , provide training for members and the Board, take a leadership role in co-op associations, and more.

Co-operation among co-operatives

We advocate for and connect co-ops in all sectors, , and offer benefits to members of members.

Concern for community

through charitable giving, strategic partnerships, volunteer initiatives and sustainable behaviours.