The Multipurpose Cooperative called ‘The Creative Hub Multipurpose Cooperative’ was inaugurated along with it’s executives at the inaugural meeting held yesterday where Peace Anyiam-Osigwe emerged President of the Cooperative ,Tony Chukwuma as the Secretary and Queen Blessing as the treasurer.
Multi-purpose cooperative society:
It is an organization which is owned and operated by a group of individuals for their mutual benefit.
This cooperative attempts to gain various objectives whereas other cooperative objectives are limited.
Whenever any cooperative society establishes to attain various goals such as production, purchasing, selling, credits sanction and so on this cooperative is called multi-purpose cooperative society.
As the name indicates it can be responsible for a different purpose than for which it has been set up. It can work for arranging credit, improved health, etc. The functions depend upon the interest and the object of the members.
If the members are anxious to do more things, the multi-purpose co-operative societies can take to other function also.
Cooperative societies operate as saving agencies and support their members to save a component of their income for their prospect needs.
They make preparations for healthiness and financial facilities, teaching, and amusement for their members.
Marketing and Business:
These societies help them with the marketing of goods.
Through such facilities, they acquire suitable value for their works and other goods produced by its members.
Set Up Of Additional Trade And Small Level Industries:
These societies facilitate their members to set up other trades and industries related to their business.
Though the economic situation of the members is better and they are able to develop their usual standard of living.