Co-operative (co-op)

Glossary item: Co-operative (co-op) - Definition

An autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly-owned and democratically-controlled enterprise. The movement was begun in Rochdale, Lancashire, England, in 1844 by 28 weavers and developed to include manufacturing and wholesale businesses as well as insurance and financial services. (International Co-operative Alliance definition)

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  • Understanding philanthropy