On July 6, discover the International Day of Cooperatives (#CoopsDay): The objectives of the cooperative

HIBAPRESS-RABAT-By Marie Lusset
This year, on July 6, the International Day of Cooperatives (#CoopsDay) has the theme “Cooperatives build a better future for all”
The objectives of the cooperative
It is important to know that the members of a cooperative are also shareholders. Unlike traditional companies, a cooperative cannot be owned or controlled by outside investors. The management of a cooperative therefore also differs from traditional businesses and companies.
Therefore, it is the members of the “SCOP” who hold the majority of voting rights (51%). They participate in the life of the cooperative and take charge of all decisions that concern it.
In a cooperative, all members are equal. This is because regardless of a member’s status within the cooperative, they will only count for one vote, just like the other members. This is more generally the expression “one member = one vote”. Its members have the same voting rights regardless of the amount of capital they have invested in the company.
Entry and exit of members within a cooperative
In a cooperative, an employee member can become a shareholder. The decision is taken at a meeting by the employees who are already shareholders of the cooperative. Each member has the right to renew their application to become a shareholder each year in the event of refusal.
When a shareholder member leaves the cooperative, it is not necessary to find a third party willing to buy back his shares because it is the cooperative itself that buys back the shares. Unlike traditional companies, there are no formalities to complete regarding the modification of capital when a member enters or leaves the cooperative.