Introduction to cooperatives
National Credit Union Administration (NCUA)
An independent federal agency that serves to supervise and regulate federal credit unions. It also provides account insurance for many state-chartered credit unions through the National Credit Union Share Insurance Fund.
Most important way cooperatives communicate
Annual meetings and newsletters
How long does it take to start a cooperative
a year or two
articles of incorporation
are a contract between board & members
a user of a cooperative would often be a
customer
Globally, what industries most frequently dominated by a co-op in
dairy and milk
What principle did the Canadian wheat board not follow
democratic control
The existence of an efficient market depends on
information
Whose responsibility is it to resolve conflict when an employee disagrees with a co-op goals
manager
Merging with a cooperatives is decide by
members
Ownership of a co-op is in the hand of
members
Recalling directors is the responsibility of
members
The Associated press is governed on the rule
one newspaper, one vote
What is a centralize cooperative?
owned by just members
One problem with cooperatives sharing risk is
poor risk farmers are often most likely to join
A co-op is a form of
private business
Worker-owned cooperatives tend to be
short lived and response to difficult economic condition
Managers of a coop and the board are both responsible
strategic planning
Why do co-ops have an advantage over IOF
the ability of information
Patronage at a cooperative is
the amount of business they have done at the cooperative
How many people are typical on a co-op board
6-15
Ineffective management may represent in all business
88%
What is a federated cooperative?
A co-op owned by other co-ops
To be a member of the Minnesota Corn Processors you must invest as much as
a small pick up truck
Who started the first cooperative in the US? and what was it?
-Ben Franklin -Fire Insurance
Steps in order to start a cooperative
-Develop a business plan -Draw up papers and incorporate -Elect Board -Conduct Membership Drive -Hire a manager
The Clayton Act was passed in
1914
The Clapper Volstad act was passed in
1922
Competitive markets have plenty of
Buyers and Sellers
A coop that is over 100 years old
CHS
A quick decision to close a local coop branch would be more likely to be under a
Centralized cooperative
C-SPAN is a what?
Cooperative
Alphonse Desjardins
Created credit Unions
The largest coops sector in the US in terms of membership is
Credit Union
Senator Volstad was raised in
Granite Falls
IOF vs Co-op- Are you more likely to do what?
Emphases service to customers
Cooperatives are most common in
Europe & North America
In what area of agriculture, do coops still have little market share
Farm Equipment
Robert Owens
Father of Co-ops
Oldest Consumer Cooperative
Fire insurance company
The first credit unions in the US was created by
French Mill workers
Which of these would not be stakeholder in a co-op
Government Agency
What is not an advantage of a housing cooperative?
Having them in college
Each year in total cooperatives do business on the order of a _________________ couple of
Hundreds of Billions of dollars
When did retail grocery stores start popping gup across the US
In the 60's in response to supermarket
A well known cooperative is
Land O' Lakes
By law, the board is responsibly for ...
Management
Prices are set by the
Manager
Co-ops are especially important to what agriculture industry
Marketing and Supply coops
Which principles is most widely accepted among coops
Net income is distributed to patrons
Why do cooperatives not worked in planned economies
Ownership was not in the hand of the members
Guide lines from specific to broadest
Practices, policy, principles
Senator Volstad was most known for
Prohibition
The largest Retail Co-op
REI
Cable TV coops have been primary been success in what area?
Rural areas serviced by electric coops
How long have retail co-ops been around in the US?
Since the Civil War
Allocation of cash patronage refunds is decided by
The Board of Directors
The largest US housing cooperative is in
The Bronx
The rochdale cooperative was form because
They believed shopkeepers were dishonest
What was the purpose of the Clayton Act?
To exempt coops from the antitrust laws
Does the grange still exist?
Yes
Members are only responsible for
themselves
The number of dairy coops have declined over the second half of the 20th century from
thousands to hundreds
The National Cooperative Bank was created by the government for what purpose
to make loans and manage coops
T/F- Benefits are provided by use rather then ownership
true
Market power for a cooperative means
undulling influencing prices
A particular difficult period for coops
was in 1980's dues to their own debt and accounts receivable
