CO-OP
Co-ops
Co-operative Department Overview
The Cooperative Department of the Ministry of Labour is dedicated to promoting and regulating co-operative societies across various sectors. Our mission is to enhance economic growth, social well-being, and community development through the co-operative model. Co-operative societies are voluntary organizations formed by individuals with common interests who come together to achieve shared economic, social, and cultural goals. Below are the different categories of cooperative societies under our jurisdiction:
CO-OP
Overview of the Co-operative Society
What is a Co-operative Society?
A Co-operative Society is a Voluntary Association that start with the aim of service of its members. It is the form of business where members join hands for the promotion of common goals.
Types of Co-operative Society
- Agricultural co-operatives are organized to help farmers gain market power by joining together to market their crops, increase their bargaining power by achieving economies of scale, processing their commodity to add value, and/or to purchase supplies and services.
- Benefits and profits gained from the co-operative are distributed equitably to member-farmers on the basis of use of the co-operative.
- Multipurpose Co-operative Societies carry on several unrelated business activities simultaneously as determined by the agreement of the members.
- Reduction of production and marketing problems through joint purchasing, access to loan funds, increased knowledge of the fishing industry, and promotion of natural resources conservation;
- Co-manage coastal fishery resources, help to improve the living conditions of fishers and slow down the rapid depletion of these resources;
- Arrange technical guidance and training for members;
- Provide extension services to fishermen;
- Take measures for the development of fisheries and fishing industry;
- Establish units for preservation, processing, distribution and marketing of fish and fish products.
- Promoting sustainable and optimal utilization of forest resources;
- Coordinating and facilitating the consultative and participatory process regarding acquisition of lands for members to carry out logging operation and harvesting of timber resources;
” Promoting the establishment and maintenance mechanism for meaningful dialogue with the Guyana Forestry Commission; - Promoting awareness on environmental
standards and practice; - Promoting downstream level production through access to training marketing and technical information;
- Providing fair and equitable opportunities for members to access forest resources;
- Assisting in infrastructural development pertaining to forestry and Agricultural activities.
- A Co-operative Housing Society is a legally established body or entity owned by its members;
- Registration of Co-operatives Housing Society is mandatory in Guyana under the Co-operatives Societies Act Chapter 88:01;
- Housing Co-operatives are formed to provide residential housing for the members;
- Members of the Society invest in shares in keeping with the rules of the Society;
- A plot of land is allocated to each member who fulfilled their financial obligations to the Society;
- Construction of houses can be done through self-help or independently through mortgages or loans from financial agencies.
- Purchase raw materials, goods and services factors at the most economical prices;
- Produce goods at the most economical level;
- Supervise the production most efficiently and effectively;
- Dispose of the surplus production to nonmembers at the best prices;
- Eliminate the middle and capitalists;
- Attend to workers’ grievances in respect of working conditions and wages.
- To get rid of the pressure of money lenders;
- To provide the financial facilities for short-term to its members;
- To keep the minimum rate of interest on loan;
- To develop the habit of thrift and saving among the members;
- To encourage the habit of mutual aid.
7 Co-operative Principles
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FRIENDLY SOCIETY
What is Friendly Society?
A friendly Society is a group of persons, registered under the Friendly Societies Act, Chapter 36:04 of the laws of Guyana. It is a non-profit organization that does charitable work to benefit individuals and the community as a whole.
REGISTERED SOCIETIES
General Duties and Obligations
Classes of Societies
Duties of Registered Societies:
- Establish and maintain a registered office and inform the Registrar of any changes;
- Conspicuously display the society's name and mention it in all official publications;
- Maintain separate accounts and submit annual financial statements to the Registrar;
- Within every five years, assess assets and liabilities and send the report to the Registrar.
Objectives of benevolent society:
- Volunteering
- Initiative
- Helping
- Respect
- Generous
- Activity
- Self-feeling
- Altruistic
Working men's clubs are societies formed for the purposes of social intercourse, mutual helpfulness, mental and moral improvement and rational recreation.
Objectives of Working Men’s Club:
- To increase participation by providing a range of opportunities, support, and resources to allow for an inclusive and sociable sporting community.
- To maintain a high level of performance in competitions and events.
- To improve club infrastructure in order to enhance their ability to grow and develop.
MEMBERSHIP
How to Join a Friendly Society:
Forms
Explore all the forms which govern our policies!
Laws
Co-operative and Friendly Society Laws
Brochures
