Cooperative Principles
The foundation of our cooperative movement and the guiding principles that shape our decisions and operations.
International Cooperative Alliance
Since the creation of the International Co-operative Alliance in 1895, it has been the final authority for defining Co-operatives and elaborating the principles upon which they should be based.
These intermittent revisions of principles serve as a source of strength to the Co-operative Movement and aptly demonstrate how Co-operatives can be applicable and relevant in a fast changing world. Beneath those changes lies a fundamental respect for all human beings and a belief in their capacity to improve themselves economically and socially through mutual-help.
Historical Evolution
First formal declaration of Cooperative Principles
Second revision of principles
Third revision at Manchester Congress - current principles
Seven Guiding Principles
These principles guide every decision we make and every service we provide to our members and community.
Voluntary & Open Membership
Inclusive and Accessible
Democratic Member Control
One Member, One Vote
Economic Participation
Shared Investment & Returns
Autonomy & Independence
Self-Governed Organization
Education, Training & Information
Continuous Learning
Cooperation Among Cooperatives
Strength Through Unity
Concern for Community
Sustainable Development
Detailed Principles
Explore each principle in depth to understand how they shape our cooperative values and operations.
Co-operatives are open on a voluntary basis, without political, religious, gender or social discrimination, to all who can contribute to and benefit from their activities.
The primary purpose of Co-operatives is to serve their members in a prudent and efficient manner. This principle ensures that anyone who shares our values and can use our services has the opportunity to become a member, regardless of their background. We believe in creating an inclusive environment where diversity is celebrated and every member's contribution is valued.
Co-operatives are democratic organizations controlled by their members, who actively participate in setting policies and making decisions.
Members have equal voting rights - one member, one vote. Men and women serving as elected representatives are accountable to the membership. This democratic control ensures that every member has an equal say in how the credit union operates, regardless of the size of their account or investment. Our governance structure reflects our commitment to fairness and transparency.
Members contribute equitably to the capital of their co-operative and share in the results of its operation.
This principle ensures that members not only benefit from our services but also participate in building the financial strength of the credit union. Through share purchases and retained earnings, members contribute to our capital base. In return, they may receive dividends on their shares and benefit from improved services and competitive rates.
Co-operatives are autonomous, mutual-help organizations controlled by their members.
We maintain our independence and autonomy while working collaboratively with other organizations. If we enter into agreements with governments and other organizations, we do so freely, on mutually acceptable terms, which ensure our autonomy. This principle protects our ability to serve our members' interests without external interference.
Co-operatives foster reciprocal, ongoing education programmes for members, leaders and employees.
We believe in the power of education to transform lives and communities. Our education programs help members, leaders, and employees understand their roles and responsibilities. We also have a responsibility to inform the general public, particularly young people and leaders, about the nature of the co-operative movement and its benefits to society.
Co-operatives actively co-operate in every practical way with other co-operatives locally, regionally, nationally and internationally.
In order to best serve the interests of their members and their communities, we work together with other cooperatives at all levels. This cooperation strengthens the cooperative movement as a whole and allows us to share resources, knowledge, and best practices. Together, we can achieve more than we could individually.
Co-operatives are concerned about the communities in which they exist and strive for sustainable development.
While focusing on member needs, we work for the sustainable development of our communities through policies that are respectful of the environment and acceptable to our membership. We believe that strong communities create opportunities for all residents to thrive, and we're committed to being a positive force for social and economic development in our region.