Cooperatives, in all their variety, stand on seven principles Most cooperatives, including the Riverwest Co-op, hold values that are rooted in justice for social, political and economic rights. These ideals can be traced back to the Rochdale Society of Equitable Pioneers who set up the first cooperative along these lines in Rochdale, England back in 1844. Since then, these 7 Principles have been refined and reinterpreted to fit changing times. The latest revision was adopted in 1995. The seven principles used by the International Cooperative Alliance today are accepted by most cooperatives worldwide.
The Seven Principles
Voluntary and Open Membership. This means that anyone is welcome to join the co-operative, regardless of color, economic standing, or background. You may choose your own level of involvement, whether it be joining the Board, volunteering in the store or just shopping.
Democratically run by their members. As a member/owner, you have an equal say in how the cooperative is run, regardless of how much money you have invested or how long you have been a member. Decisions are made democratically and everyone has a voice.
Help our members to participate in the economy directly. The members/owners are not just passive consumers but are actively involved in the production and distribution of goods and services. This helps to create jobs and keep money circulating within the community.
Co-operatives are autonomous and make their own decisions. This matters because it allows cooperatives to be responsive to their members’ needs and local conditions, rather than being dictated to by outside forces.
Education and training for their members. The members benefit because they can learn new skills and knowledge. The Co-op as a whole becomes more creative, effective, and efficient.
Work together and support one another. When one co-op needs help, others will pitch in. This could be financial assistance, sharing resources or knowledge, or simply offering moral support. This principle is based on the idea that we are all stronger when we work together.
Concern for our local community. This means that we not only provide goods and services to our members but also strive to improve the local community. This could be through supporting local initiatives, adhering to sustainable policies and practices, or helping local causes raise funds.