About Ottawa Coop Association
WHAT IS A COOP?
A Cooperative is a company which is originally formed by a group of customers that get together and pool their money to create an organization. In order to become a member of an existing cooperative normally requires some type of application form to be filled out and the purchase of at least one share of stock.
This type of organization allows its members to participate in the earnings of the cooperative.
Being a member is optional and in no way affects a customers ability to do business with the Coop.
At the end of the cooperative's fiscal year an allocation is made back to its members. This allocation is based on how well the cooperative performed over the past twelve month period. The member receives his allocation based on the amount of business which was transacted with the cooperative during the past twelve month period. This allocation is normally made in two pieces, one of which being in the form of a check and the other by way of an increase in the member's equity with the cooperative.