Cooperative identity, values & principles

Cooperatives around the world operate according to the same set of core principles and values, adopted by the International Co-operative Alliance (ICA). The ICA is the global steward of the Statement on the Cooperative Identity – the Values and Principles of the cooperative movement.

Definition of a Cooperative

A cooperative is an autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly-owned and democratically-controlled enterprise.

Cooperative values

Cooperatives are based on the values of self-help, self-responsibility, democracy, equality, equity, and solidarity. In the tradition of their founders, cooperative members believe in the ethical values of honesty, openness, social responsibility and caring for others.

Amazing Ventures Multipurpose Cooperative Society limited's adopted values are as below;

• Teamwork: Collaborative effort of a group to achieve a common goal 
• Integrity: Being honest and showing a consistent and uncompromising adherence to strong moral and ethical principles and values
• Diversity: Respecting each other's differences
• Innovation: Application of better solutions that meet new requirements, inarticulate needs, or existing market needs.
• Accountability: Answer-ability, blameworthiness, liability, and the expectation of account-giving

Cooperative Principles

The cooperative principles are guidelines by which cooperatives put their values into practice.

1. Open and Voluntary Membership

Cooperatives are voluntary organisations, open to all persons able to use their services and willing to accept the responsibilities of membership, without gender, social, racial, political or religious discrimination.

2. Democratic Member Control

Cooperatives are democratic organizations controlled by their members, who actively participate in setting policies and making decisions. Elected representatives (directors/trustees) are elected from among the membership and are accountable to the membership. In primary cooperatives, members have equal voting rights (one member, one vote); cooperatives at other levels are organized in a democratic manner.

3. Member Economic Participation

Members contribute equitably to, and democratically control, the capital of their cooperative. At least part of that capital remains the common property of the cooperative. Members allocate surpluses for any or all of the following purposes: developing the cooperative; setting up reserves; benefiting members in proportion to their transactions with the cooperative; and supporting other activities approved by the membership.

4. Autonomy and Independence

Cooperatives are autonomous, self-help organisations controlled by their members. If they enter into agreements with other organisations, including governments, or raise capital from external sources, they do so on terms that ensure democratic control by their members and maintain their cooperative autonomy.

5. Education, Training, and Information

Cooperatives provide education and training for their members, elected representatives, managers, and employees so they can contribute effectively to the development of their co-operatives. Communications about the nature and benefits of cooperatives, particularly with the general public and opinion leaders, helps boost cooperative understanding.

6. Cooperation among Cooperatives

By working together through local, national, regional, and international structures, cooperatives serve their members more effectively, improve services, bolster local economies, and deal more effectively with social and community needs.

7. Concern for Community

Cooperatives work for the sustainable development of their communities through policies approved by their members.