| A co-operative is a business owned by its member-users. It is created to provide services and products members need. A co-operative is a democratic organization—each member has a single vote, regardless of his/her investment in the co-operative, or his/her purchases from the co-operative. Members elect a board of directors from among themselves to govern the co-operative. The board sets policies and hires a general manager to run the day-to-day activities of the co-operative. The board meets regularly to review operations and management reports.
Co-operatives uphold certain other principles, including concern for community, educating the public and youth about co-operative values, voluntary and open membership, and autonomy.
Become a member of Lucknow District Co-operative Inc.
When you become a member of Lucknow District Co-operative Inc., you have a say in a business you own. You are able to vote on motions at the annual general meeting, and special general meetings called by the president. You elect a board of directors to give your co-operative direction. Additionally, you are entitled to receive patronage dividends (rebates on purchases you have made with the co-operative) as they are declared by the board of directors.
Members receive an annual report to keep them informed of the operational progress and financial performance of the co-operative.
A lifetime membership in Lucknow District Co-operative Inc. is $1.00 (non-refundable).
Optional Class A Preference shares are available at $10.00 per share. Dividends are payable on the Class A Shares at the rate of 4% per annum based on a decision of the board of Directors at year end. | 