We are a HOUSING COOPERATIVE which means that together we OWN AND OPERATE our property. Our share price buys one share of the cooperative per housing unit. The cost of a share depends on the size of the unit. As member/owners, we have chosen to try to keep our costs low by participating in the operation of our jointly held property.
It is important to recognize this expectation of participation as part of the opportunity to join us in our
neighborhood under one roof.
It is important to recognize this expectation of participation as part of the opportunity to join us in our
neighborhood under one roof.
LIKE ANY BUSINESS, A CO-OP IS DEFINED BY THREE BASIC INTERESTS:
- OWNERSHIP,
- CONTROL AND
- BENEFICIARIES.
TODAY, OVER 800 MILLION PEOPLE ARE MEMBERS OF A COOPERATIVE. AND COOPERATIVES PROVIDE 100 MILLION JOBS WORLDWIDE, 20% MORE THAN MULTINATIONAL ENTERPRISES.
PRINCIPALS
THE COOPERATIVE PRINCIPLES ARE GUIDELINES BY WHICH COOPERATIVES PUT THEIR VALUES INTO PRACTICE:
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
SOURCE : ICA NEWS, NO. 5/6, 1995.
COOPERATIVES HAVE BEEN WORKING ON PRETTY MUCH THOSE SAME PRINCIPLES SINCE THEIR “MODERN” BEGINNINGS IN ENGLAND IN 1844 WITH THE ROCHDALE SOCIETY.
WHY DID WE DECIDE TO USE THIS STRUCTURE FOR OUR COMMUNITY?
WELL, WE LIKE THESE PRINCIPLES. THEY ALLOW EACH OF US TO HAVE SLIGHTLY DIFFERENT MOTIVATIONS TO PARTICIPATE: ALL OF US ARE RECEIVING FINANCIAL BENEFIT, SOME OF US ARE MOTIVATED BY THE SENSE OF COMMUNITY THAT IS AVAILABLE TO US, SOME GAIN NEW EXPERIENCE BY BEING ON THE BOARD WHICH OPERATES THE COOPERATIVE THROUGHOUT THE YEAR, SOME OF US REALLY ENJOY WORKING TOGETHER ON PROJECTS AND LEARNING FROM ONE ANOTHER AS WE DO OUR WORK. MOST OF US LIKE HAVING A SAY IN HOW WE LIVE AND IN WHAT WE DO ON A DAY-TO-DAY BASIS.
LEARN MORE HERE : BUYING INTO A HOUSING COOPERATIVE
HOW DO WE BENEFIT FINANCIALLY?
WE HAVE MANAGED OUR RESERVES AND OUR EXPENSES WISELY AND WELL, MET OUR NEEDS, IMPROVED OUR PROPERTY AND LIVED WELL. MEMBERS ARE ELECTED TO THE BOARD WHICH OPERATES THE COOPERATIVE THROUGHOUT THE YEAR. BOARD MEMBERSHIP IS LIMITED TO THREE CONSECUTIVE YEARS OF SERVICE, SO THE MANAGEMENT GROUP IS A ROTATING ONE. MEMBERS GAIN EXPERIENCE IN RUNNING THE PROPERTY, DEALING WITH FINANCIAL, LEGAL, BUSINESS AND PERSONNEL ISSUES. THE BOARD MEMBERS VOLUNTEER THEIR TIME FOR THIS. THIS SERVICE COMPONENT IS PART OF THE “RESPONSIBILITY” THAT COMES WITH MEMBERSHIP. AND IT’S ONE WAY WE SAVE MONEY FOR ALL MEMBERS, ALLOWING US EACH TO LIVE MORE ECONOMICALLY THAN WE MIGHT BE ABLE TO DO IN ANOTHER TYPE OF ORGANIZATION. WE DISTRIBUTE COSTS PROPORTIONAL TO INDIVIDUAL UNIT SIZE, AND MANAGE OUR EXPENSES CAREFULLY. THE CO-OP'S EARNINGS ARE FROM BOTH INDIVIDUAL UNIT OWNERSHIP AND A FEW OTHER SOURCES, SUCH AS GUEST UNIT RENTAL.
WHAT KINDS OF EXPENSES DO WE HAVE?
ONE OF OUR LARGER EXPENSES IS INSURANCE. WE NEED TO HAVE LIABILITY AND GENERAL BUSINESS INSURANCE IN ORDER TO COVER EMERGENCIES AND REMAIN ELIGIBLE FOR OUR MORTGAGE. AND WE THINK IT’S A GOOD IDEA, IN ANY CASE. WE ALSO HAVE EXPENSES FOR OUR MANAGEMENT GROUP, EBENEZER, WHICH DOES OUR DAY-TO-DAY PROPERTY MANAGEMENT, ACCOUNTING, MAINTENANCE, AND VARIOUS OTHER NORMAL PROPERTY MANAGEMENT ACTIVITIES.
HOW DO WE MAKE DECISIONS?
MANY DAY-TO-DAY DECISIONS ARE MADE BY THE ON-SITE PROPERTY MANAGER AND/OR THE BOARD. AND THE BOARD IS ELECTED ANNUALLY BY THE MEMBERS, SO IF MEMBERS DON’T LIKE HOW THE BUSINESS IS BEING RUN, JUST WAIT FOR THE NEXT ELECTION! BUT SOME DECISIONS ARE MADE BY MEMBER VOTE. ONE SHARE, ONE VOTE. AND IT IS NOT ALWAYS THE EASIEST WAY TO MAKE DECISIONS. NOR IS IT ALWAYS EASY TO ENGAGE EVERYONE IN THE DECISION-MAKING PROCESS.
IN MANY EUROPEAN COUNTRIES COOPERATIVE INSTITUTIONS HAVE A PREDOMINANT MARKET SHARE IN THE RETAIL BANKING AND INSURANCE BUSINESS. PERHAPS YOU ALREADY BELONG TO A CREDIT UNION? THAT’S A FINANCIAL COOPERATIVE. FARMERS ARE OFTEN MEMBERS OF DAIRY COOPERATIVES. IN FACT, FARM COOPERATIVES ARE OFTEN THOUGHT OF AS THE ONLY COOPERATIVES. THOUGH YOU MAY BE PART OF A DAY-CARE OR EVEN A HOUSING CO-OP. COFFEE IS OFTEN GROWN COOPERATIVELY. (WE LIKE COFFEE.) AND OTHER SOME ORGANIZATIONS MAY SURPRISE YOU WHEN YOU LEARN THEY ARE COOPERATIVE. (THINK OCEAN SPRAY.)
WE ARE PROUD OF OUR COMPARATIVELY BRIEF AND SUCCESSFUL HISTORY AS A CO-OP AND WE LOOK FORWARD TO CONTINUED GROWTH AND PARTICIPATION IN MANAGING OUR BUSINESS.
WANT MORE?
HERE ARE SOME LINKS. Click a link below to learn more.
- NATIONAL ASSOCIATION OF HOUSING COOPERATIVES
- COOPERATIVE HOUSING INTERNATIONAL
- HISTORY OF THE COOPERATIVE MOVEMENT
- UNIVERSITY OF WISCONSIN CENTER FOR COOPERATIVES
- KONA PACIFIC FARMERS COOPERATIVE IN HAWAII
- LAND O’LAKES, INC. ARDEN HILLS, MN
- NORTHEAST CENTER FOR COOPERATIVE BUSINESS
- INTERNATIONAL CO-OPERATIVE ALLIANCE
- EBENEZER CARES
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