A Co-operative Society is an organization where members come and meet up for the welfare and contribute their money to form an association.They can acknowledge deposits from individuals and offer advances to members. Profit or misfortune shared among individuals
For example, the farmers may come together and form a co-operative society to work jointly and take advantage of economies of scale. When they work together they will have better bargaining power for buying raw materials. They will also enjoy better bargaining power while selling their agricultural output. A minimum number of members required to start a cooperative society is 10. However, there is no upper limit to the number of members that a cooperative society can have
A credit score co-operative society is an independent organization of a group of people who belongs to the same economy, social and those who looking for financial help. and this maintains the concept of balancing of mutual benefits for the advantage of members and profit earning as a way to operate successfully for a long time.