This led to the formation of different types of cooperative societies in India. Since then, the cooperative society have become widespread all over the world. Before joining a cooperative society, you need to know the types which are involved. Management > General Management > Forms of Business Organizations > Types of Cooperative Societies Credit union co-operative society: This society formed by organizations that offer credit facilities to individuals and organizations. The cooperative society follows democracy and hence finds support from the Government in the form of low taxes, subsidies, and low interest rates on loans. One becomes a member by purchasing shares in the co-operative. The Cooperative Development Institute recognizes six basic types of cooperatives in the United States. So, it means assistance of the society where a few people create a democratic institution voluntarily. The society is providing due services to the members of cooperative societies. 4) Exporters Co-operative. Cooperative society and its types. It also helped setting up cooperative farms. 360/14-SA, Co operation, Marketing… Types of co-operative society are described below: Nature of the members: Cooperative society was originated from the word of co-operating which indicates assistance. Types of Cooperative Society in Objectives of the organization. Society means association or collection of a group of people. Knowing the types of cooperative societies that are available will help you know the best one which is fit for you to join, that is why this article has been written to help you out to get to know the types of cooperative societies in Nigeria. Its objective was to provide credit to the members of the society. Let us discuss its characteristics. The 5 main types of Agricultural Co-operative are: Agricultural Production Co-operative, Suppliers Co-opertaive, Credit & Thrift Co-operative, Exporters Co-operative And Multi-Purpose Co-operative. WHAT IS A COOPERATIVE SOCIETY? They perform all the marketing functions standardizing, grading, branding, packing, advertising, transportation etc. TYPES OF COOPERATIVE SOCIETIES 2. A utility cooperative is a type of consumers' cooperative that is tasked with the delivery of a public utility such as electricity, water or telecommunications services to its members. Super-mount cooperative markets have been opened in the cities to provide goods at reasonable and low prices by the cooperative society. Let us discuss its characteristics. Eliminate the role of middleman. Therefore members are benefited by the lower cost of the property. Marketing co-operative societies: - Marketing co-operative societies undertake centralized sale of the products produced by their members. 5) Multi-Purpose Co-operative. The primary object of forming a co-operative society is to protect the weaker section of society. detail explaination They were initially successful, but later, due to mismanagement, corruption and lack of experience, these types of markets could not work satisfactorily in most cities. Ease of formation: The cooperative society can be started with a minimum of ten members and is governed by the provisions of Cooperative … A co – operative society is a voluntary association of persons of moderate means , who unite together to protect and promote their common economic and social interests. We also offer information on cooperative entities. Marketing co-operative society: This co-operative society is made up of members who sell certain specified goods to the general public or certain agencies of the government. Types of Co-operative Societies- 1. Although humans have established many types of societies throughout history, sociologists and anthropologists (experts who study early and tribal cultures) usually refer to six basic types of societies, each defined by its level of technology. Free subscription Get the hottest stories from the largest news site in Nigeria. 1. oluntV ary Association : A Cooperative Society is a voluntary association of persons. Producer Cooperatives. It was named the Society of Fair Pioneers of the Rochdale city. In respect of applying Co-operative Housing Societies Manual, Government of Maharashtra No. ADVERTISEMENTS: Some of the major types of cooperative societies are as follows: (1) Credit Cooperative Societies (2) Consumers Societies (3) Producers Societies. Definition of Co-operative society in India It earned a profit of 28.12 lac by supplying fertilizer at the farmer’s door step. 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