Co-op (consumer cooperative)

A consumer cooperative, or co-op, is a business owned and operated by its members, who are also its customers. Members buy shares to join and have a say in decisions, such as what products to offer or how to run the store. Profits are often returned to members as dividends or lower prices. Co-ops focus on serving the needs of their members rather than maximizing profits, promoting sustainability, community, and fair practices. Common examples include grocery co-ops, housing co-ops, and credit unions, allowing members to support each other while enjoying benefits tailored to their interests.