A cooperative, commonly known as a co-op, is a type of corporate ownership of real property where stockholders of the corporation are entitled to use a certain dwelling unit or other units of space. It can also be an organization for the production or marketing of goods owned collectively by members who share the benefits.
A cooperative, or co-op, is a real estate arrangement where tenants or members own shares in a corporation that owns the building, and often entails collaboration between agents in real estate transactions.
A credit union is a not-for-profit financial institution, typically formed by employees of a company, a labor union, or a religious group, and operated as a cooperative.
A financial institution similar to a Savings and Loan Association (S&L) but organized as a cooperative. It is owned by its members, with deposits representing shares. Members, as shareholders, vote on the association’s affairs and receive income in the form of dividends.
A nonstock corporation is a type of corporation owned by its members under a membership charter or agreement, rather than through the issuance of shares.
In the realm of business and economics, a patron is an individual who patronizes a business, typically known as a customer. In taxation contexts, it specifically refers to one who does business with a cooperative but is not necessarily a member.
