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Federal Credit Unions work in a similar way to the UK's Building Societies. There are other co-ops here but I don't think they have the same penetration as in

by antoko 13y ago

Federal Credit Unions work in a similar way to the UK's Building Societies. There are other co-ops here but I don't think they have the same penetration as in the UK. One national brand I CAN think of that is a co-op is REI, I'm sure there are others though, lots of local-focused food businesses use a co-op model. Costco and Sam's club (wholesalers / cash n carry) offer membership benefits but I think that's more related to getting air miles on your credit card.

cglace 13y ago
Costco and Sam's club (wholesalers / cash n carry) offer membership benefits but I think that's more related to getting air miles on your credit card. I'm confused. What on earth does being a member of Costco have to do with credit card air miles?
- antoko 13y ago
  Apologies, bad choice of word on my part. I should have said "akin" rather than "related". The point I was trying to make is that whilst those companies offer a membership incentive structure its not a true co-op and you don't have an ownership stake in the company. You just receive some member benefits like cash back and discount coupons - similar to your credit card company giving you air miles.
brudgers 13y ago
Cooperatives are common in rural America. One of my clients is an electrical cooperative that got started in 1939 as part of the Rural Electrification program. Grain elevators and similar agricultural infrastructure are very often cooperatives. Likewise in parts of the Midwest, telephone cooperatives are common - high bandwidth and low rates. The flip side is that cooperatives are run like businesses. The electrical cooperative will cut a shareholder's power as quick or quicker than a for profit utility when the shareholder fails to pay their bill - I've been to my client's office on "Cut Off Tuesday."
zevyoura 13y ago
Florida's Natural (a national orange juice brand in the US) is also organized as a grower's cooperative, which is similar but not identical to consumer coops like REI.

by antoko 13y ago

cglace 13y ago

Costco and Sam's club (wholesalers / cash n carry) offer membership benefits but I think that's more related to getting air miles on your credit card. I'm confused. What on earth does being a member of Costco have to do with credit card air miles?

antoko 13y ago
Apologies, bad choice of word on my part. I should have said "akin" rather than "related". The point I was trying to make is that whilst those companies offer a membership incentive structure its not a true co-op and you don't have an ownership stake in the company. You just receive some member benefits like cash back and discount coupons - similar to your credit card company giving you air miles.

brudgers 13y ago

Cooperatives are common in rural America. One of my clients is an electrical cooperative that got started in 1939 as part of the Rural Electrification program. Grain elevators and similar agricultural infrastructure are very often cooperatives. Likewise in parts of the Midwest, telephone cooperatives are common - high bandwidth and low rates. The flip side is that cooperatives are run like businesses. The electrical cooperative will cut a shareholder's power as quick or quicker than a for profit utility when the shareholder fails to pay their bill - I've been to my client's office on "Cut Off Tuesday."

zevyoura 13y ago

Florida's Natural (a national orange juice brand in the US) is also organized as a grower's cooperative, which is similar but not identical to consumer coops like REI.