Seven Cooperative Principles

October 01, 2022
Article

Like all co-ops, Salem Electric operates under these seven cooperative principles:
1.    Voluntary and Open Membership: Co-ops are open to all who can use their services and are willing to accept the terms of membership.
2.    Democratic Member Control: Cooperatives are democratic organizations controlled by their members. Representatives are elected among the membership and are accountable to them. Members have equal voting rights (one member, one vote).
3.    Member Economic Participation: Members contribute equitably to the capital of their cooperative. They are allocated surpluses in proportion to their transactions with the co-op.
4.    Autonomy and Independence: Cooperatives are self-help organizations controlled by their members.
5.    Education, Training, and Information: Co-ops provide education and training for members, elected representatives, and employees so they can contribute to the development of their co-ops. 
6.    Cooperation Among Cooperatives: Cooperatives serve their members by working together locally and nationally.
7.    Concern for Community: While focusing on member needs, cooperatives work for the sustainable development of their communities.