how to become a member
Any natural person who establishes a working relationship with the co-operative can become a member.
The statute regulates admission, withdrawal, and exclusion procedures.
A natural person or a corporation can become a sustaining member if willing to join and pay the sustaining member fees. The established regulations determine the members’ administrative and proprietary rights, as well as their statutory rights. Their assignments are applied to a specific section of the co-operative capital stock.
The admission forms are available at the co-operative local offices. Admission as a sustaining member is limited to stocks availability.
Once admitted the member will receive an I.D. card, and the Co-operative Statute and Regulations. The member will also receive all social announcements and the Co-operative magazine " Carte in Tavola". With time, the member will be able to increase his/her capital stocks, underwriting and paying for new stocks, up to the maximum quota allowed by law.
Members, in an assembly discuss the Budget, approve balance sheet, and elect the Board of Directors. Each cooperator member has a right to one vote regardless of the amount of stocks owned, while sustaining members have a right to one or more votes (to a maximum of five) depending on the amount of stocks they own. The Board of Director has 15 directors and elections are held every three years. Profits are in large part earmarked for indivisible reserves: to increase the assets of the company for future generations. The rest is allocated for dividends to members and stockholders participating in the co-operative and to increase the national fund to promote the growth of co-operatives.
Members enjoy special discounts in many areas (shopping, health services, travel etc.) and after three months of membership, they can open a low interest credit line with the co-operative.
Social loan
The social loan is collaboration between the member and the co-operative: under this arrangement, the company has the use of important resources to sustain its growth and the lending member enjoys a higher return on his/her savings than what the member would get from traditional banks.
Becoming a member of the co- operative is an intelligent way to invest personal savings; it is a way of reconciling individual interests with the interests of a whole community; it is a way to help future generation to find a job and produce wealth.
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