The objects for which the Society is established are to organize and promote the welfare and economic interests of its members in accordance with the Co-operative values and principles.
Co-operatives are based on the values of self-help, mutual responsibility, equality and equity. They practice honesty, openness and social responsibility in all their activities.
The Society shall reflect these values by applying the following Co-operative principles as general guidelines in its activities:-
Voluntary and Open Membership
The primary purpose of the Society is to serve its members and, as applicable, non-members, in a prudent and effective manner.The primary purpose of the Society is to serve its members and, as applicable, non-members, in a prudent and effective manner.
Democratic Member Control
The Society shall be a democratic and participatory organization actively controlled by its members.The Society shall be a democratic and participatory organization actively controlled by its members. Members shall enjoy equal voting rights, on a one member one vote basis.
Economic Participation by Members
Members shall contribute equitably to the capital of the Society and share in the results of operations.Members shall contribute equitably to the capital of the Society and share in the results of operations. A portion of the Society's capital shall be owned collectively, intended to further the long-term purposes for which the Society exists. The Society shall pay a competitive rate of return on capital and compensate employees fairly according to the standards of the society in which they exist.
- Developing the business of the Society;
- Benefiting members in proportion to their involvement; and
- Encouraging the further development of the co-operative movement.