What is a co-op?
A co-op is a business owned by its members, who share the profits or benefits.
The International Cooperative Alliance defines a cooperative as “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."
Most food co-ops in the U.S. are consumer cooperatives, meaning they’re owned and governed by the people who shop at the stores. Unlike privately owned businesses where only a small group of investors benefit from profits, co-ops keep wealth in the community and distribute any surplus back to their owners. This business model creates a powerful economic force that benefits the co-op, its owners and the communities it serves.
The Seven Cooperative Principles
1. Voluntary
and Open Membership
Co-ops are voluntary organizations, open to all persons able to use their services and willing to accept responsibilities of ownership, without discrimination.
2. Democratic Member Control
Co-ops are democratic organizations controlled by their owners, who actively participate in setting their policies and making decisions. Every owner account receives one vote in co-op elections.
3. Members' Economic Participation
Owners contribute equitably to, and democratically control, the capital of their co-op.
4. Autonomy and Independence
Co-ops are autonomous, self-help organizations controlled by their owners.
5. Education, Training and Information
Cooperatives educate and train members, elected representatives, managers, and employees so they can contribute effectively to the cooperative's development. Members also inform the general public about the cooperative's nature and benefits.
6. Cooperation Among Cooperatives
Co-ops serve their owners most effectively and strengthen the Cooperative Movement by working together through local, national, regional and international structures.
7. Concern for Community
Co-ops work for the sustainable development of their communities through policies approved by their owners.
As a result of these principles, co-ops like Eastside keep money, jobs and profits in the community and promote equity in relationships with farmers, producers, staff and owners.
Become an Owner
See how you can support Eastside and get all the benefits of lifelong Eastside Food Co-op ownership. Your investment helps the co-op grow!
“Northeast Minneapolis was moving into an artist community. As that happened more people became interested in signing up for this yet-to-be co-op”
Kathy, Eastside Owner Since1991 (Before the store had a building!)
