These cooperative societies appeared in the region of cocoa cultivation and regardless of state support. Marketing Cooperative Societies: Such societies are established to help small producers in selling their products and ensuring a steady market for their output. Consumers cooperative societies: Consumers’ cooperatives are formed by the consumers to obtain their daily requirements at reasonable prices. There is no pressure on the members regarding their entry and exit from the society. Types of Cooperative society in Nigeria establish democratically self-governing forms of business and the legal protection system of every created commodity. Credit society was the first type of cooperatives. society which is termed as “co-operative society”. This led to the formation of different types of cooperative societies in India. Producers’ Co-operative Societies. AMUL started as milk producers cooperative society. There are 5 different types of cooperatives: Consumer: owned by consumers who buy goods or services from their cooperative. Producer: owned by producers of commodities or crafts who have joined forces to process and market their products. Cooperative Societies In Nigeria. One can join at any time and can exit any time as per his or her wish. Membership is open to all the people. Society means association or collection of a group of people. Levying of tax on the members of meeting expenditure of providing them essential services. Free subscription Get the hottest stories from the largest news site in Nigeria. Tenant Ownership Co-operative Housing Society in which land is holding on lease or independently. The small agriculturists and artisans voluntarily together for achieving two main objectives. Following are the main types of cooperative societies. Co-operative Credit Societies. Some of them concern themselves with the moral and social uplift of a depressed or weak section of the society, while quite a many of them combine some business activity with service to their members. What are the types of co-operatives in India? Consumer cooperative society are formed for the benefit of consumers who wish to get household goods at reasonable prices. • What is Cooperative Society and its Characteristics, What are the Principles of Cooperative Society. Agricultural Cooperatives In The United States. If you are at an office or shared network, you can ask the network administrator to run a scan across the network looking for misconfigured or infected devices. For example, agrarian cooperative society in the city of Ibadan (1904), the cooperation of growers Agege (1907), and the Association of farmers, EGBA (1910). Society means association or collection of a group of people. Members are engaged in production in separate enterprises, such as farms, artist studios, or fishing boats. One becomes a member by purchasing shares in the co-operative. But opting out of some of these cookies may have an effect on your browsing experience. Let’s understand the six classes of membership in brief. The main objective is to provide support to the members. The most popular one among them is the multi-purpose cooperative society. It also helped setting up cooperative farms. It has its own common seal. Every society must have at least 10 members. Religion, gender & caste do not matter in cooperative society. Housing Cooperative Society Housing co-ops are a type of society that provides affordable housing to the middle and low-income groups. The Urban credit cooperatives provide credit to their members for the purchase of raw material, wages payments etc. It is an association of persons who voluntarily pool their resources for utilizing them for the mutual welfare of members itself. AMUL started as milk producers cooperative society. in cities. People come forward as a group, pool their individual resources, utilise them in the best possible manner, and derive some common benefit out of it. The cooperative marketing societies are formed by small producers for the promotion of trade. It works on the principle of self-help as well as mutual help. Introduction: Cooperative society is a form of business organization formed under the Societies Act 1925. There are various types of cooperative society in Lagos State and generally in Nigeria. There are six different types of cooperative societies in India, let us have a detailed look into it Consumer Cooperative This society is for consumers who wish to buy goods at a lower rate.