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While cooperatives resemble other businesses, they do have two very unique business characteristics that sets them apart. First, they are owned and controlled by the members who use their services and second, the members share in the cooperative’s earnings.
Cooperatives allow people to work together to meet challenges and solve problems that are too big for them to overcome as individuals. Cooperatives are organized to improve members’ bargaining power, reduce costs, obtain products or services that might otherwise be unavailable, expand new existing market opportunities, develop priorities for effective political action, and maximize members’ income potential.
At the co-op’s annual meeting, new directors are elected from the membership to serve for three-year terms. These directors represent the members of Key Cooperative. Key has 10 elected directors and two associate directors who represent different geographical regions throughout the cooperative’s trade territory.
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