Discuss the various kinds or types of Cooperative Society

Kinds or Types of Co-operative Society :-
Following are the important kinds of cooperative society :

1. Consumer cooperative society.
2. Producers cooperative society.
3. Credit cooperative society.
4. Agriculture cooperative society.
5. House Building cooperative society.
6. Insurance cooperative society.
7. Miscellaneous Societies.

1. CONSUMER COOPERATIVE SOCIETY :-
This type of society purchases the goods of daily needs from the whole sellers or producers and sells it in the hands of members because there is no any middle man between whole seller and consumer, so goods are cheap for the members. These societies are generally found in the shape of departmental store and retail cooperative store. Sometimes these also earn profit. Some portion of the profit is distributed among the members and other is spent for the development of business and on the welfare of the members. This business is conducted by the elected manager. If the business expands then administrative committee is organized by the members to look after the business. Anyhow its major objective is to supply the daily necessities of life to its members on lower price. The cooperative consumers societies are very popular in advanced countries.

2. PRODUCERS COOPERATIVE SOCIETY :-
The main objective of forming this society is to eliminate the middleman and capitalists between the producer and consumer. It makes direct link between the producers and consumer. It produces goods according the demand of the members. Surplus production is sold in the open market at profit. Members of the society pool their resources and produce goods. They also manage the business by themselves. They also receive the profit according to their capital.All the production process like purchase of raw material and distribution of goods is performed under the supervision of members. So goods are produced on low cost and supplied to the members at low price. This type of society establishes small industrial units which are labour intensive. These societies also establish their own retail shops to provide their product to the consumer directly.

3. CREDIT COOPERATIVE SOCIETY :-
It is the organization of financially weak persons. Its major objective is to provide short term and medium term loans to its members. This society protects the members from the money lenders, who charge the higher rate of interest. In the rural areas it provides the loans to the poor people on low rate of interest. Credit cooperative society collects the fund from its members and also borrows the loan from the government. It has two kinds agricultural and non agricultural credit society. The liability of the members is unlimited.

4. HOUSE BUILDING COOPERATIVE SOCIETY :-
This society is formed generally in the urban areas. It protects and provides the houses facility to its members. It receives deposits from its members and obtains land for the construction of houses. It purchases the raw material for construction on low rates and provides to the members on no profit basis. It also provides the facility of gas, electricity, water and transportation.

5. AGRICULTURAL COOPERATIVE SOCIETY OR COOPERATIVE FARMING SOCIETY :-
This society enables the small farmers to employ improved methods of cultivation. Small farmers cannot use tractors, tube well and fertilizer due to small holding. In the agricultural countries it is very popular. These societies provide improved seeds irrigation facility and machines to the farmers to increase their per acre yield. It also takes interest to dispose of the product of the farmers. It collects the funds from the members and also borrows the money from the various financial institutions. The liability of the members is unlimited.

6. CO-OPERATIVE INSURANCE SOCIETY :-
This type of society is formed to provide group insurance to its members. It contracts with the insurance company collectively. In this way the premium rate of insurance lowers. Generally this society takes group insurance policy for its members. This society can be organized for issuing policies of small amount. There are two type of insurance cooperative society, mutual office and self concern. In the mutual office, the policy holders are the owners and the profit of the insurance company is utilized for the members. Self concern cooperative society is formed to provide insurance facilities like the private insurance company.
Due to many problems the cooperative insurance has not been provided successful.

7. MARKETING CO-OPERATIVE SOCIETY :-
This kind of society is very useful for the small produces and agriculturist. Small producers organize this type of society, to dispose off their product collectively. The society pools the product of all the members and arranges to supply it on higher price. It strengthens the bar gaining power to the members. It removes the middleman profit. This society also provides him financial aid to its members.Storage and information facilities are also provided by the society.