What is a Co-Op?
Cooperatives, including the Farm Credit Bank of Texas and other Farm Credit lending institutions, are businesses with certain unique characteristics. A cooperative business:
- Is owned and democratically controlled by its members — people who have organized to provide themselves with needed goods and services
- Is voluntary and operates for the benefit of its member-owners
- Takes advantage of economies of scale by pooling buying power
- Returns any profits, after bills are paid and money is set aside for operations and improvements, to the co-op members