Colorado Reader Oct. 2019: Cooperatives | Page 5

CoBank is a banking cooperative specializing in agriculture. High Plains Food Co-op delivers fresh produce to Denver and the Front Range. Financial: Credit unions are a lot like banks. They make loans to people. They offer savings accounts and checking accounts. A credit union is owned by the people who are the customers. As members, these customers can use their vote to help determine the credit union’s priorities. Customers can run for the board of directors. People trust credit unions because they are managed for the benefit of the customers who own the business. Processing and Manufacturing: Sometimes called value-added cooperatives, these businesses take raw materials and convert them into products for sale to consumers. The Great Western Sugar Cooperative is owned by farmers who grow sugarbeets in Colorado, Nebraska, Wyoming, and Montana. The farmers deliver the beets to the cooperative, which processes them into sugar that is sold in grocery stores in those four states, and across the nation. The cooperative returns some of the money it makes to the farmers. Distribution: When several companies need products delivered to them they may form a distribution co- op. Each company may not need a full truck delivered at one time. This type of co-op lets several companies combine their orders and save money by sharing one truck and one driver. Food: Cooperative grocery stores are popular in big cities. The customers who own the stores decide where they get their food items. Co-op grocery stores Rural Colorado Apparel Manufacturing makes clothing for designers. typically get food from local farmers. The members of these cooperatives like knowing more about the farmers who grow and deliver food to the store. Industry, Art, and Service: Individuals and companies may find it works best to work with others to find success. Colorado is home to art cooperatives. Artists may not be able to afford a store to sell their items. They may not have many items to sell. By teaming up with others, these artists can share the cost of space and even share time working at the store. Each artist may agree to work one day at the store and the other days working on more art. Retail: Retail cooperatives are like purchasing or supply cooperatives. The difference is that retail cooperatives buy things in volume for sale to other businesses, or to use themselves. Best Western, Carpet One, and ACE Hardware are among the retail cooperatives you will find in Colorado. Utilities: Companies like to operate where there are lots of customers that are easy to reach. In rural areas, the customers may be miles away from each other. A company that delivers electricity may not want to extend service into rural areas. The risks are greater and the profit is smaller. Cooperatives are the answer. Because cooperatives value people more than profits, they can operate where privately- owned companies may not want to. Utilities are essential services people need. Utility co-ops include electric associations, telephone associations, and drinking water cooperatives. www.GrowingYourFuture.com - 5