Co-operative Principles

Co-operative Principles

ProMo-Cymru is run according to Co-operative Principles which provides a more ethical and sustainable business model.

What is a Co-operative?

A Co-operative is owned and democratically controlled by its members. There are no shareholders or owners and therefore no requirement for ProMo-Cymru to focus on profit. Instead its main responsibilities are to use and promote democracy, equality and to seek a balance between profit and ethics in order to develop and strengthen the Welsh community.

As a Co-operative, ProMo-Cymru operates within seven internationally recognised co-operative principles as detailed below.

1. Voluntary & Open Membership

ProMo-Cymru has an open-membership and is non discriminatory.

2. Democratic Control

ProMo-Cymru is a democratic organisation controlled by its members, who actively participate in the decision-making processes. Representatives are elected and accountable to the membership.

3. Member Economic Participation

ProMo’s members contribute equitably to, and democratically control, the capital of the co-operative.

4. Autonomy & Independence

ProMo-Cymru is an autonomous, self-help organisation controlled by its members. If ProMo-Cymru enters into agreements with other organisations or raises capital from external sources, it does so on terms that ensure democratic control by its members and maintain their co-operative autonomy.

5. Education, Training & Information

ProMo-Cymru provides education and training for its members, its elected representatives, managers and employees so that they can contribute effectively to the development of the organisation. ProMo informs the general public, particularly young people and opinion leaders, about the nature and benefits of co-operation.

6. Co-operating With Other Co-operatives

ProMo-Cymru serves its members most effectively and strengthens the co-operative movement by working together through local, national, regional and international structures.

7. Concern for the Community

ProMo-Cymru works for the sustainable development of communities through policies approved by its members.