In the tradition of their founders, co-operative members believe in the ethical values of honesty, openness, social responsibility and caring for others. I. Membership of a co-operative society should be voluntary and available without discrimination to all persons who can make use of its services and are willing to accept the responsibilities of membership. Co-operative societies are democratic organisations. Their affairs should be administered by person elected or appointed in a manner agreed by the members and accountable to them.
Members contribute equitably to, and democratically control, the capital of their co-operative.
At least part of that capital is usually the common property of the co-operative. Members usually receive limited compensation, if any, on capital subscribed as a condition of membership. Share capital should receive a only a strictly limited rate of interest, if any - no more than is necessary to retain investment. The economic results arising out of the operations of a society belong to the members of that society and should be distributed in such a manner as would avoid one member gaining at the expense of others. If they enter to agreements with other organisations, including governments, or raise capital from external sources, they do so on terms that ensure democratic control by their members and maintain their co-operative autonomy.