What is co op meaning?

Co-op is a short form of the cooperative, which refers to an autonomous association of people who voluntarily come together to meet their common economic, social and cultural needs and aspirations through a jointly owned and democratically-controlled enterprise. A co-op can be a business, organization, or residential community where all members share equally in the benefits and the risks involved. The primary goal of a co-op is to provide its members with goods or services at a fair price without any profit motive. Co-operatives are based on the principles of voluntary and open membership, democratic member control, member economic participation, autonomy and independence, education, training, and information, cooperation among co-operatives, and concern for the community. There are different types of co-operatives including consumer co-ops, worker co-ops, housing co-ops, and agricultural co-ops.