Types of cooperative society

TYPES OF CO-OPERATIVE SOCIETIES

Co-operative societies are classified into different types according to the nature of the services provided by them. The following are the main types of co-operatives:-

1)credit co-operative societies

 it is  form with the objective of granting loans to members at a reasonable rate of interest for production as well as nonproductive purpose. They may be established in rural areas by agriculturist or artisans called as rural credit society or by salary earners as Urban bonds, salary earners society, etc.

2)consumers co-operative societies

The consumers co-operative stores make their purchases in bulk from wholesalers and supply them in small quantities to members at very reasonable prices also provide various services to them.

3)producer's co-operative societies

Industrial co-operatives provide raw material tools, technical guidance to the members on easy terms so that they can produce superior quality products.

4)marketing co-operative societies

Marketing co-operatives undertake centralized distribution for some of the products produced by their members and they perform all the marketing functions such as standardizing, grading, branding, packing, advertising, transportation, etc. And after selling the produce, distributes the proceeds among depending upon the quantity sold by each members.

5)farming co-operative societies

These societies are formed by farmers who voluntarily come together and pool the land to jointly conduct the agricultural operations using scientific ideas of cultivation.

6)housing co-operative societies

Co-operative housing society is formed by members from the construction and maintenance of building for residential purpose on ownership basis.