Understanding Cooperatives and Their Principles

The video introduces cooperatives as member-owned, not-for-profit organizations that solve community problems. It covers their history, starting with Benjamin Franklin's fire insurance co-op, and explains the cooperative principles that guide them. The video highlights the importance of community, diversity, and inclusion, and showcases the impact of cooperatives in North Carolina. It concludes with a call to action for viewers to join and support local cooperatives.

What is the primary purpose of cooperatives?

• To maximize profits for shareholders

• To compete with large corporations

• To serve the needs of their members

• To operate as a government entity

What is the main benefit of joining a cooperative?

• Priority customer service

• Shared profits and benefits

• Free membership

• Access to exclusive discounts

Who founded the first cooperative business in the United States?

• Alexander Hamilton

• George Washington

• Thomas Jefferson

• Benjamin Franklin

What are cooperative principles based on?

• Corporate strategies

• Market trends

• Government regulations

• Community needs and values

Which principle was added to the original cooperative principles to address modern issues?

• Diversity, equity, and inclusion

• Sustainability

• Technological advancement

• Globalization

What is the significance of the Rochdale Pioneers?

• They were the first to create a cooperative in the US

• They founded the Cooperative Council of North Carolina

• They introduced cooperatives to Asia

• They established the original cooperative principles

What is the role of the Cooperative Council of North Carolina?

• To compete with other states' cooperatives

• To educate, promote, and connect cooperatives

• To regulate cooperatives

• To provide financial support to cooperatives

When was the Cooperative Council of North Carolina founded?

• 1955

• 1945

• 1935

• 1925

How can individuals participate in their local cooperatives?

• By donating money

• By attending annual meetings

• By investing in stocks

• By becoming a member, joining the staff, or volunteering

What is the focus of the cooperative leadership camp?

• To train future cooperative leaders

• To provide recreational activities

• To offer financial advice

• To teach marketing strategies