The basic cooperative principles were set out over 150 years ago by the Rochdale Society of Equitable Pioneers, the model on which all modern cooperatives are based. These principles are not only reflected in our Operating Agreement but also woven into the ways that we interact with one another and our clients, communities, and environment.
Cooperatives provide over 2 million U.S. jobs in utilities, agriculture, finance, and other industries, all organized around the same basic principles.
Cooperatives are democratic organizations controlled by their members—those who buy the goods or use the services of the cooperative—who actively participate in setting policies and making decisions.
We use a collective-board model of direct democracy, with decisions made on the basis of one member, one vote. The cooperative is managed on a daily basis by an Executive Member, who is elected from the membership and accountable to the collective board. These arrangements ensure that our subsidiaries retain democratic values while recognizing the need for executive authority in a business venture.
|Our Operating Agreement establishes quorum and approval thresholds for a variety of decisions, with certain major decisions such as amendments to the Operating Agreement or dissolution subject to unanimous consent.|