ANSWER TO SHORT QUIZ:

1. Distinguishing marks of Coops from other business organizations:

Coops Other Business Orgs.

 Main purpose is to provide
Service & savings to members
 Essentially union of persons
 Control is democratic, each
member has one vote
 Ownership in the hands of
members who use the
services
 Surplus is considered as a
refund to members in
accordance with existing laws
and its by-laws.
- Main purpose is to make profit
for investors
- Essentially a union of capital
- Control is based on the number of
voting shares
- Ownership in the hands of
investors
- Surplus allocated in proportion
to investments

2. New types of cooperatives as provided in RA 9520:

i. Advocacy cooperative
ii. Dairy cooperative
iii. Education cooperative
iv. Financial service cooperative
v. Fishermen cooperative
vi. Health service cooperative
vii. Housing cooperative
viii. Water Service Cooperative
ix. Workers cooperative

3. Seven Cooperative Principles:

i. Voluntary & Open Membership – cooperatives are voluntary
organizations, open to all persons able to use their services and
willing to accept the responsibilities of membership, without
gender, social, racial, political, or religious discrimination;

ii. Democratic Member Control – cooperatives are democratic

organizations controlled by their members, who actively
participate in setting their policies and making decisions. Men
and women serving as elected representatives are accountable
to the membership.

Iii. Member Economic Participation - Members contribute equitably

to, and democratically control the capital of their cooperative.

1
 At least part of that capital is usually the common property of
cooperative.

iv. Autonomy and Independence - cooperatives are autonomous,

self-help organization, controlled by their members.

v. Education, Training and Information - cooperatives provide

education and training for their members, elected
representatives, managers, and employees so that they can
contribute effectively to the development of their cooperatives.

vi. Cooperation among cooperatives - cooperatives serve their

members effectively and strengthen the coop movement by
working together through local, regional, national and
international structures.

vii. Concern for the community - cooperatives work for the

sustainable development of their communities through policies
accepted by their members.

4. Basic Rights of Coop members:

i. Right to vote;

ii. Right to be voted upon;

iii. Right to receive reports and information about his coop;

iv. Right to recommend policies;

v. Right receive interest on capital contribution in accordance with

by-laws and established coop policies;

5. Duties & Obligations of Coop members:

2
3