Another aspect of operation unique to cooperatives is member investment and profit. Because the co-op is locally owned and controlled it plays a major role in the community. Electric co-ops from coast to coast are involved in community activities such as conducting safety programs, sponsoring local fairs and helping to get new businesses or new housing started. Whatever benefits the co-op also helps the community and its citizens. Since the first successful cooperative of the industrial era was formed in 1844, numerous other cooperatives have been formed to provide goods and services ranging from child care and funeral planning to legal and professional services.
Cooperatives have a large impact of the nation's economy.
Nearly 30 percent of farmers' products in the U.S. are marketed through cooperatives. Rural electric cooperatives operate more than half of the electric distribution lines in the United States and provide electricity for 30 million people. Over 50 million Americans are served by insurance companies owned or closely affiliated with cooperatives. Open and voluntary membership. A cooperative is open to anyone who can use its services and is willing to accept the responsibilities of membership.