Question

Write a note on Consumer cooperative society.

Answer 1

Consumer cooperatives are organized by consumers that want to achieve better prices or quality in the goods or services they purchase. In contrast to traditional retail stores or service providers, a consumer cooperative exists to deliver goods or services rather than to maximize profits from selling those goods or services. Nationally, the most widely used cooperative form is the credit union, with some 90 million members. Credit union assets have grown a hundred–fold in three decades. Credit unions are essentially cooperatives of people that use banking services. Students’ cooperative stores, Cooperative provision stores, Supermarkets set up on cooperative societies of India are examples of this type.