Co-op, (Cooperative)

A cooperative (co-op) is a type of organization owned and operated by its members, who share in its benefits and decision-making. Members could be consumers, workers, or producers, depending on the co-op’s purpose. For example, a farmers' cooperative helps members sell produce collectively, while a consumer co-op provides goods at lower rates. Profits are usually reinvested or distributed among members. Co-ops focus on serving members’ needs rather than maximizing profit for outside investors, promoting democracy, mutual support, and shared economic interest among members.