Abstract

Co-operatives societies are one of the business enterprises and thus can be defined in terms of three basic concepts of ownership, control, and beneficiary. Here in the co-operative societies all three interests vested directly in the hands of the Final user. It is an autonomous association of persons, who have gathered voluntarily to attain some common goal through joining hands together and working together. It functions on the principle of co ownership and joint ownership. Because cooperatives are owned and democratically-controlled by their members (individuals or groups and even capital enterprises) the decisions taken by co-operatives balance the need for profitability with the needs of their members and the wider interests of the community. Employee’s cooperative credit society runs by the Employees of some particular organization and plays a vital role in development of its business and individual members. It provides financial support to its members.