A cooperative society is a business organization and operated by a group of individuals for their mutual benefit. 1. Types Of Co-operative Societies 4. 4. This is one of the most prominent objectives of all co-operative societies. Merits of Co-operative Societies are as Follows:. Advantages and Disadvantages of co-operative societies . Meaning Of Co-operative Society 2.Features Of Co-operative Society 3. Features: Voluntary association: Everyone having a common interest is free to join a cooperative society and can also leave the society after giving proper notice. It requires members to participate for success. Irrespective management of a co-operative society is democratic. i. The membership of cooperative societies is voluntary. Answer: A cooperative society is a voluntary association of persons of moderate means, who unite together to protect and promote their common economic interests. So those who want to work together with some common economic objectives can form a society, which is termed as cooperative society. As per the prevailing legislation, cooperative society cannot be formed unless and until a … The membership of a cooperative society is opentoall. Advantages. Thus, the term cooperation means working together. In this type of society, the land of the individual members is taken by society, but the ownership remains at the members. Introduction: - A Co-operative society is a voluntary association of people who come together on the basis of unity and equality to protect and promote their common economic interest. Voluntary organization. By: REBAC Staff. The world's largest consumers' cooperative is the Co-operative Group in the United Kingdom, which offers a variety of retail and financial services. Explain the meaning, features, merits and demerits of cooperative society. Disadvantages Of Co-operative Societies. Anypersonwithcommoninterest can become a member. Extensive record keeping is necessary in this form of organization. The following are some of the important advantages of co-operative societies. Question 6. Easy Formation: -A co-operative society can be formed easily.Minimum ten members required for the registration of co-operative society. Advantages Of Co-operative Societies 5. 2. A cooperative organization entails longer decision-making process. Meaning Of Co-operative Society. Ease of formation: The cooperative society can be started with a minimum of ten members and is governed by the provisions of Cooperative Societies … Then any adult member can join hands to start co-operative society. Features Of Cooperative Societies Voluntary Association. A cooperative society is a voluntary association of persons of moderate means, who unite together to protect and promote their common economic interests. Disadvantages of a Cooperative Organization: 1. The UK also has a number of autonomous consumers' cooperative societies, such as the East of England Co-operative Society and Midcounties Co-operative. Cooperative buildings, or “co-ops,” are a unique housing option, typically found in a limited number of U.S. urban markets. Advantages and Disadvantages of Cooperative Society Advantages and Disadvantages of Cooperative Society – 12 Points Advantages: The cooperative form of organization offers the following advantages: 1. Merits and Demerits of Co-operative Society? It has less incentive, and there’s also a possibility of development of conflict between members. Features: The nature of co-operative organization is service oriented. 3. The cooperative society follows democracy and hence finds support from the Government in the form of low taxes, subsidies, and low interest rates on loans. Posted: 10/29/2018. The Advantages and Disadvantages of Co-op Housing . 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