Co-operatives are business organizations owned by the members who use their services. Co-ops are structured in a democratic way that allows members to have a say in their actions. The members elect the board of directors and decide what should be done with any surplus that is generated in the co-op. Co-ops are community initiated organizations and businesses.
Credit unions are financial co-operatives owned and controlled by the members.
The bond of association might be a common employer, a community, church, or ethnic heritage. Every credit union has a board of directors, elected by its members at an annual general meeting. Worker co-ops are found in many sectors, such as forestry, printing and publishing. The amount of the share varies depending on the size and type of co-operative or credit union. Each member has one vote, regardless of the number of shares held.