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Tennessee Cooperatives - What Are They & How Do They Work?
Tennessee cooperatives, or co-ops, have been in existence for many years serving people and businesses for the betterment of the community. Cooperatives are Tennessee businesses owned by the folks who use them. Depending on classification, they either supply 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, agriculture cooperatives are controlled and owned by the user, typically farmers. Farmers can 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.
Tennessee Cooperatives - Group Classifications
Tennessee Co-ops are classified into groups for instance;
- Marketing Cooperatives
- Purchasing Cooperatives
- Service Cooperatives
- Food Cooperatives
Within these classifications you will find more specialized cooperatives in Tennessee such as;
- child care
- credit union
Each one of these offers inexpensive alternatives to those who are a part of the cooperative. Members have the option of electing a board of directors. The board of directors manages daily activities within the cooperative.
Consortium child care cooperatives are also offered within industrial parks. This can help parents in TN place their child within a daycare that is relatively close to their job and often at a cheaper rate than most daycares. Though it may be the businesses who provide 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 the decisions and ultimately decide 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 entices others to become members and pay their bill on time regularly, but also benefits both the company and those that they provide service to.
Tennessee electric and telephone cooperatives provide their services to people while hearing members voices. The members can voice their concerns and suggest what they want changed as it is them who determine just what goes on within that cooperative.
Membership in Tennessee Cooperatives
Members of a Tennessee cooperative have a large list of responsibilities that they must follow. They must make sure that all of the relevant 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 Tennessee must choose to merge with other businesses in order to expand their services or dissolve on the grounds that there is not enough supply and demand of their services. The definitive role of the members can be difficult and yet it is important that they are knowledgeable and able to make those decisions.
Cooperatives in Tennessee are an important part of people's everyday lives. By providing services and goods 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. 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 ability to make decisions about their company as a whole. That is what makes Tennessee cooperatives so unique among the rest in the world today.