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Protection from exploitation: One of the most obvious advantages of a co-operative society is the fact that the members are protected from exploitation from middlemen. By: REBAC Staff. Meaning Of Co-operative Society 2.Features Of Co-operative Society 3. A cooperative organization entails longer decision-making process. As per the prevailing legislation, cooperative society cannot be formed unless and until a … 2. Merits and Demerits of Co-operative Society? Co-ops first appeared in New York City in the late-1800s and became popular in Washington, DC in the 1920s. Explain the meaning, features, merits and demerits of cooperative society. The nature of co-operative organization is service oriented. Then any adult member can join hands to start co-operative society. Extensive record keeping is necessary in this form of organization. This is one of the most prominent objectives of all co-operative societies. The world's largest consumers' cooperative is the Co-operative Group in the United Kingdom, which offers a variety of retail and financial services. Disadvantages Of Co-operative Societies. Thus, the term cooperation means working together. Easy to Form- A cooperative society is a voluntary association and may be formed with a minimum of ten adult members. Meaning Of Co-operative Society. 1. 3. Introduction: - A Co-operative society is a voluntary association of people who come together on the basis of unity and equality to protect and promote their common economic interest. The following are some of the important advantages of co-operative societies. It requires members to participate for success. The membership of a cooperative society is opentoall. Merits of Co-operative Societies are as Follows:. Irrespective management of a co-operative society is democratic. Advantages Of Co-operative Societies 5. Voluntary organization. Answer: A cooperative society is a voluntary association of persons of moderate means, who unite together to protect and promote their common economic interests. Easy Formation: -A co-operative society can be formed easily.Minimum ten members required for the registration of co-operative society. Advantages. A cooperative society is a business organization and operated by a group of individuals for their mutual benefit. It has less incentive, and there’s also a possibility of development of conflict between members. Posted: 10/29/2018. Features: The Advantages and Disadvantages of Co-op Housing . The cooperative society follows democracy and hence finds support from the Government in the form of low taxes, subsidies, and low interest rates on loans. The membership of cooperative societies is voluntary. Features Of Cooperative Societies Voluntary Association. Question 6. Ease of formation: The cooperative society can be started with a minimum of ten members and is governed by the provisions of Cooperative Societies … A cooperative society is a voluntary association of persons of moderate means, who unite together to protect and promote their common economic interests. Advantages and Disadvantages of co-operative societies . i. Advantages and Disadvantages of Cooperative Society Advantages and Disadvantages of Cooperative Society – 12 Points Advantages: The cooperative form of organization offers the following advantages: 1. 4. Features: Voluntary association: Everyone having a common interest is free to join a cooperative society and can also leave the society after giving proper notice. Types Of Co-operative Societies 4. Cooperative buildings, or “co-ops,” are a unique housing option, typically found in a limited number of U.S. urban markets. Disadvantages of a Cooperative Organization: 1. 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