Consumers’ Co-operatives
Is an organization of consumers who pull their resources together to buy consumer goods on wholesale basis which they sell to both their members and non-members at highly reduced rates. This group is further divided into:
(a) Consumer Co-operative wholesale Association and
(b) Consumer Co-operative Retail Association.
Note that profits are shared among the members based on their respective purchases i.e. the higher the purchase, the higher the profit and vice-versa.
Producers’ Co-operatives
Is a combination of producers who pull their products together for the purpose of large-scale production, even at a reduced cost. Profits made out of the sales of the products are shared equally among themselves.
Credit and Thrift Co-operatives
Is established by low-income earners. Here, its members encourage savings and part of this savings is given out as loans to members at a very low interest rate.
Agricultural Produce Marketing Co-operatives
This association produces agricultural products and also helps in marketing them.
Co-operative Craftsmen’s Society: Is an association of people of the same trade who buy raw materials in large quantities and sell out to members at a reduced rate.
Co-operative Housing and Building Societies
This’ association gives out housing loan t its members to build their own private houses.