Benefits of cooperative societies to the individual
Cooperative society, as the name suggest is a society where the members co-operate with each other to help each other to meet their needs. The needs may be financial, economical, social, cultural and so many more.
So, the main motive is to help each other. Since human are social animal, this kind of gathering surely help in many ways.
Positivity of cooperative societies and see how much they cooperate
- Deliberate membership: Most of the membership in cooperative societies is voluntary. No money is required. Also if you want to leave the organisation, there are no bindings in that. So, the membership doesn’t feel like a barrier in your normal life.
- Development is uncomplicated: If in a place a group of 5 to 10 people feels the same need, they can gather together to form a group and work accordingly. Not much of the paper work is required.
- Social equality: Every person in the group has equal rights to take decision. Nobody get special preference in the group.
- Equal division of superfluous: Every person in the group is equally benefited as the sum of things generated by the group is used for the betterment of the organisational people.
- Restricted accountability: Your responsibilities are bound within the estimation of your organisation. Resources are once contributed and work according to that estimate.
- Stability: The society is a different entity. If any member leave or die, it will not affect the group.
- We stand for all: The motto cooperative society is this. Mutual help is the main motto of the society.
- Small group more unity: Cooperative societies are normally small, and every people interact with each other. This helps to know the need and problem of each member in the group.
- Administration support: support this kind of cooperative society as a society help a lot of people altogether. Loan Koperasi or cooperative loan is quite famous as the govt. provides this kind of loans in a less rate of interest.
- Lowering of taxes: Since the group is non profit organisation, govt. supports them and gives concession like this.
- Agricultural development: Cooperative in rural areas has contributed a lot in agricultural benefit. Before the middle man in the business used to make fool of the villagers but when a group of people altogether come to buy seeds or sell crop, in both case, govt. help them to get the perfect price.
- Financial Benefits: Cooperatives always save a certain percentage of the total contribution for savings. This money is used to help every member or the group as a whole for emergency situation.