Types of co-operative society
1. Consumer’s cooperative societies:-
The consumer cooperative societies are formed to protect the interests of consumers. The society aims at eliminating middlemen to achieve economy in operations. It purchases goods in bulk directly from the wholesalers and sells goods to the members at the lowest price.
2. Producer’s cooperative societies:
These societies are set up to protect the interest of small producers. It supplies raw materials, equipment and other inputs to the members and also buys their output for sale.
3. Marketing cooperative societies:-
Such societies are established to help small producers in selling their Products. It collects the output of individual members and sell them at the best possible price. Profits are distributed to members.
4. Farmer’s cooperative societies:-
These societies are established to protect the interests of farmers by providing better inputs at a reasonable cost. Such societies provide better quality seeds, fertilisers, machinery and other modern techniques for use in the cultivation of crops.
5. Credit cooperative societies:-
Credit cooperative societies are established for providing easy credit on reasonable terms to the members. Such societies provide loans to members at low rates of interest.
