Kensington Cooperatives - What Are They & How Do They Work?
Kensington cooperatives, or co-ops, have been around for a long time serving people and businesses for the betterment of the community. Cooperatives are Kensington businesses owned by the individuals who utilize them. Depending on classification, they either offer certain services or foods to those in the community. Those who are a part of a cooperative benefit by helping, not only themselves, but others as well.
They provide necessary components to the economy. For example, farming cooperatives are controlled and owned by the user, typically farmers. Farmers have the ability to join what are known as marketing cooperatives and charge more for the products but less for their marketing, attracting business. Those buying the products benefit on the fact that they are purchasing fresher, healthier products.
Kensington Cooperatives - Group Classifications
Kensington co-ops has sorted out into groups including;
- Marketing Cooperatives
- Purchasing Cooperatives
- Service Cooperatives
- Food Cooperatives
Within these classifications you'll find more specialized cooperatives in Kensington, MD such as;
- child care
- credit union
Each one of these offers affordable options to those who are a member of the cooperative. Members have the option of electing a board of directors. The board of directors oversees daily activities within the cooperative.
Consortium child care cooperatives are also provided within industrial parks. This helps parents in Kensington place their child within a daycare that is moderately close to their job in most cases at a more affordable rate than most daycares. Though it may be the businesses who deliver the initial funding to begin this type of service, it still revolves back to those that own the daycare electing their own board of directors. It is the owner of the business and its members that provide all the decisions and ultimately decide how it's ran.
A good example of how utility cooperatives can work for their members is Craw-Kan Telephone Cooperative Company. This company provides telephone service to its members who hold shares within the company and at the end of each and every year each member receives a portion of that profit sharing. This not only encourages others to become members and pay their bill on time regularly, but also benefits both the company and those that they provide service to.
Kensington electric and telephone cooperatives provide their services to people while hearing members voices. The members have the ability to voice their concerns and suggest what they want changed as it is them who choose precisely what goes on within that cooperative.
Membership in Kensington Cooperatives
Members of a Kensington cooperative have a large list of responsibilities that they have to follow. They have to ensure that every one of the applicable laws are met and followed by its members. They must appoint or removed directors on an appropriate basis. Members must know what their cooperative delivers and acquaint them self with services in order to better serve others. You must be able to meet customer satisfaction in order to run efficiently, effectively and profitably.
There are instances when cooperatives in Kensington must decide to combine with other businesses in order to expand their services or dissolve on the grounds that there's not enough demand and supply of their services. The definitive role of the members can be difficult and yet it is necessary that they are well informed and capable of making those decisions.
Cooperatives in Kensington, MD are an important part of people's everyday lives. By giving goods and services to their members, they're offering a mutually beneficial option. Without cooperatives, nearly 26 million people in America would be without the electric services that these places provide. Over 100 million Americans would be hard pressed to find affordable goods and services and all the net worth that these cooperatives pull in together would be lost.
It's important to have these in our lives in order to keep things in balance between affordable and quality in our lives. Individuals are brought together in a cooperative group in order to run a business that will provide quality services to those in need while keeping the right to make decisions about their company as a whole. That is what makes Kensington cooperatives so unique among the rest in the world today.