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Rhode Island Cooperatives - What Are They & How Do They Work?
Rhode Island cooperatives, or co-ops, have been around for many years serving people and businesses for the betterment of the community. Cooperatives are Rhode Island businesses owned by the people who use 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 instance, 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, bringing in business. Those buying the products benefit on the fact that they are purchasing fresher, healthier products.
Rhode Island Cooperatives - Group Classifications
Rhode Island Co-ops has sorted out into groups including;
- Marketing Cooperatives
- Purchasing Cooperatives
- Service Cooperatives
- Food Cooperatives
Within these classifications you will find more specialized cooperatives in Rhode Island such as;
- child care
- credit union
Every of these offers inexpensive alternatives to those who are a member of the cooperative. Members have the option of electing a board of directors. The board of directors manages activities inside the cooperative.
Consortium child care cooperatives are also supplied within industrial parks. This helps parents in RI place their child within a daycare that is moderately close to their job and usually at a more affordable rate than most daycares. Though it may be the businesses who deliver the primary funding to start 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 choose how it is ran.
A good example of how utility cooperatives can work for their members is Craw-Kan Telephone Cooperative Company. This business 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.
Rhode Island electric and telephone cooperatives provide their services to individuals while hearing members voices. The members can voice their concerns and suggest what they need changed as it is them who determine precisely what goes on within that cooperative.
Membership in Rhode Island Cooperatives
Members of a Rhode Island cooperative have a large list of responsibilities that they have to follow. They have to make sure that all 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 to be able to run efficiently, effectively and profitably.
There are times when cooperatives in Rhode Island must choose 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 decisive role of the members can be difficult and yet it is necessary that they are knowledgeable and capable of making those decisions.
Cooperatives in Rhode Island are an important part of people's everyday lives. By giving goods and services 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 is essential to have these in our lives in order to maintain a 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 Rhode Island cooperatives so unique among the rest in the world today.