Potomac Cooperatives - What Are They & How Do They Work?
Potomac cooperatives, or co-ops, have been in existence for quite a while serving people and businesses for the betterment of the community. Cooperatives are Potomac businesses owned by the people who utilize them. Depending on classification, they either supply certain services or foods to those in the community. People 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 instance, agriculture cooperatives are controlled and owned by the user, typically farmers. Farmers are able to join what are known as marketing cooperatives and charge more for the products but less for their marketing, bringing in business. Those buying the products benefit on the fact that they are purchasing fresher, healthier products.
Potomac Cooperatives - Group Classifications
Potomac co-ops has sorted out into groups such as;
- Marketing Cooperatives
- Purchasing Cooperatives
- Service Cooperatives
- Food Cooperatives
Within these classifications you will find more specialized cooperatives in Potomac, MD such as;
- child care
- credit union
Each one of these offers affordable options to people who are a member of the cooperative. Members have the option of electing a board of directors. The board of directors oversees activities within the cooperative.
Consortium child care cooperatives are also offered within industrial parks. This helps parents in Potomac place their child within a daycare that is relatively close to their job and often at a lower rate than most daycares. Though it may be the businesses who deliver the initial funding to begin this kind of service, it still revolves back to those that own the daycare electing their own board of directors. It is the owner of the company and its members that provide all of 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 offers 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.
Potomac electric and telephone cooperatives provide their services to people while hearing members voices. The members are able to voice their concerns and suggest what they want changed as it is them who decide what it is that goes on within that cooperative.
Membership in Potomac Cooperatives
Members of a Potomac cooperative have a large list of responsibilities that they must follow. They must make sure 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 familiarize 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 times when cooperatives in Potomac must choose to merge with other businesses in order to expand their services or dissolve on the grounds that there is 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 Potomac, MD are an important part of people's everyday lives. By giving services and goods to their members, they are 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 really is crucial to have these in our lives in order to keep things in balance between affordable and quality in our lives. People are brought together in a cooperative group in order to run a business that will provide quality services to those in need while maintaining the right to make decisions about their company as a whole. That is what makes Potomac cooperatives so unique amongst the rest in the world today.