Government of Trinidad and Tobagogov.tt

Types of Co-operatives

Co-operatives categories: Co-operatives in Trinidad and Tobago are classified into two categories: Financial Co-operatives and Non-Financial Co-operatives. Within these categories, the following types of co-operatives may be established to meet the needs of its members

  • Credit Unions (Financial Co-operatives) – organized for the purpose of promoting thrift, providing credit at competitive rates, and providing other financial services to its members. e.g. Eastern Credit Union Co-operative Society Ltd
  • Agricultural Co-operatives - also known as a farmers' co-ops, is a co-operative where farmers pool their resources in certain areas of activity, often supplying their members with inputs for agricultural production, including seeds, fertilizers, fuel, and machinery services. These often also provide the means for marketing or selling the crops produced. e.g. Montserrat Cocoa Farmers Co-operative Society Ltd
  • Consumer Co-operatives –   is organized to promote its members’ products and services and to provide wholesale and retail consumer goods to its members at cost price. e.g. Cumana Consumers Co-operative Society Ltd
  • Workers Co-operatives – this type of co-operative can be organized to provide work in any sector for which the members possess skills, hence providing sustainable employment to its members. Members are essentially both the employees and the owners. e.g. Femmes du Chalet (Breakfast Shed) Co-operative Society Ltd
  • Marketing Co-operatives –   organized to market the products and services of its members. e.g. Cocoa and Coffee Marketing Co-operative Society Ltd
  • Multi-Purpose Co-operatives – organized to provide its members with services that are found in two or more different types of co-operatives. For example a multi-purpose co-operative may offer agricultural goods and marketing services to its members. e.g. North East Coast Multipurpose Co-operative Society Ltd
  • Junior Co-operatives – is a saving and investment society for youth under the age of 21 years old. It is usually organized within schools but may be extended to clubs and other youth organizations, to encourage the habit of thrift. Ideally, the functioning of a Junior Co-operative within schools is done by the students with guidance and support of a Teacher Guide. e.g. Orange Valley Junior Co-operative Society Ltd

Type of Co-operative

Number

As a percentage of total (%)

Financial

132

44

Non-Financial

75

25

Junior (JCS)

102

31

Total

309

100

Non-Financial Co-operatives may be further classified as follows:


Type of Non-Financial Co-operative

Number of Non-Financial Co-operatives

Agricultural/Fishing

30

Consumer

6

Service

26

Multi-Purpose

9

Secondary bodies

4

Total

 75