Benefits of Cooperative Societies​

In a co-operative society, the control of the decision-makers is in the hand of an elected managing committee. Because somewhere the motive behind the formation of this society is service and their welfare.

  • Welfare Membership: where persons are together with the motive of the welfare of members and they are free to join a cooperative society and can quit society anytime as per his desire.
  • Legitimate: under the CO-OPERATIVE SOCIETY ACT,1912. Registration of a cooperative society is compulsory, and that’s why a cooperative society and its members are two distinct things
  • Limited Risk of Liability: Because of the limited capital contribution by the limited member’s risk of liability is limited.

The credit co-operative societies have performed the main role in promoting financial welfare and a feel of self-sufficiency in most of the rural community and the much less strong sections of the society. Unlike banks and other financial corporations which can be aimed toward the introduction of profits, co-operative societies stability the enterprise durability of the unit with the precept of supporting the members truly to achieve financial balance. Welfare hence remains the number one motto of such businesses.