Cooperative Society

A cooperative society is a voluntary organization where individuals come together to meet common economic, social, and cultural needs. Members pool resources to achieve shared goals, such as purchasing goods, providing services, or improving their livelihoods. Unlike traditional businesses, cooperatives are owned and managed by their members, who participate in decision-making and share any profits. This model promotes mutual aid and solidarity, emphasizing democratic control and equitable distribution of benefits. Common examples include credit unions, agricultural co-ops, and housing cooperatives, where members work together for collective benefit rather than individual profit.