What are Co-operative society

A Co-operative Society is a voluntary association of people who come together and invest their small savings to form the organization. The Co-operative Society is formed for the mutual benefit of all the members. The members of the co-operative society are people who come together and invest their small savings to form the organization which will work towards their common cause. The Co-operative Society is formed with an idea of supporting each other to achieve a common economic objective. 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 a better bargaining power for buying raw materials. They will also enjoy a better bargaining power while selling their agricultural output. Minimum no 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.