Co-ops/credit unions are 100 strong in Arizona!
1.7+ million co-op/credit union members in Arizona!
Arizona credit unions have more than 8.5 billion dollars in assets!

A cooperative is a business. In many ways it’s like any other business; but in several important ways it’s unique and different. A cooperative business belongs to the people who use it — people who have organized to provide themselves with the goods and services they need. A cooperative operates for the benefit of its members.

These member-owners share equally in the control of their cooperative — they meet at regular intervals, review detailed reports and elect directors from among themselves. The directors hire management to manage the day-to-day affairs of the cooperative.

Members invest in shares in the business to provide capital for a strong and efficient operation. All net savings left after bills are paid and money is set aside for operations and improvements are returned to co-op members.

Consumer-owned cooperatives enable consumers to secure a wide array of goods and services. For example, they may offer health care, utilities, insurance or housing. They may buy and sell food, heating fuel, hardware and other consumer goods. Or, they may operate credit unions, child care facilities and funeral and memorial societies. Almost all consumer needs can be met by a cooperative.

Worker-owned cooperatives are businesses owned and controlled by their employees. Worker cooperatives are found in almost any industry, including employee-owned food stores, processing companies, restaurants, taxi cab companies, sewing companies, timber processors and industry.

· Credit unions have over 76 million members and assets in excess of $100 billion.

· Rural electric cooperatives operate more than half of the electric distribution lines in the United States and provide electricity for 26 million people.

· Over 50 million Americans are served by insurance companies owned by or closely affiliated with cooperatives.

· Food cooperatives have been innovators in the marketplace in the areas of unit pricing, consumer protection and nutritional labeling.

• Statistics gathered from various sources as of 1995.

Values: Cooperatives are based on the values of self-help, self-responsibility, democracy, equality, equity and solidarity. In the tradition of their founders, cooperative members believe in the ethical values of honesty, openness, social responsibility and caring for others.

• Voluntary and Open Membership

• Democratic Member Control

• Member Economic Participation

• Autonomy and Independence

• Education, Training and Information

• Cooperation among Cooperatives

• Concern for Community

A credit union is a cooperative financial institution, owned and controlled by the people who use its services. These people are members. Credit unions serve groups that share something in common, such as where they work, live, or go to church. Credit unions are not-for-profit, and exist to provide a safe, convenient place for members to save money and to get loans at reasonable rates.

What makes a credit union different from a bank or savings & loan? Like credit unions, these financial institutions accept deposits and make loans—but unlike credit unions, they are in business to make a profit. Banks and savings & loans are owned by groups of stockholders whose interests include earning a healthy return on their investments.