Chatham Marketplace is a co-operative business owned entirely by members of the community – more than 1900 households.
What is a co-op?
By definition, a cooperative is an independent group of people joining freely to meet their common economic, social, and cultural needs via a community owned and democratically governed business. All co-ops are guided by 7 basic principles.
- Voluntary and Non-discriminatory membership/ownership.
- Democratic control – you have a voice and a vote!
- Owner Economic Participation – members/owners contribute financially to their cooperative and also receive direct and indirect financial benefits.
- Independent – co-ops are autonomous, self-help organizations controlled by their members/owners only.
- Educational – cooperatives offer education and training to their owners so they can successfully manage their co-op. They also educate the larger community about the nature and benefits of co-ops.
- Cooperation among Cooperatives – cooperative owners and the cooperative movement in general is served best by working collaboratively with other local, regional, national, and international co-op organizations.
- Concern for Community – while focusing on owner needs, cooperatives work for the sustainable development of their communities through policies accepted by their owners.