CO-OPERATIVE FLAG

Like the rainbow, this flag is a symbol of hope and peace. The seven colors from flags around the world fly in harmony. Each of the seven colors in the cooperative flag have been assigned the following meaning:

Red: stands for courage;

Orange: offers the vision of possibilities;

Yellow: represents the challenge that GREEN has kindled;

Green: indicates a challenge to co-operators to strive for growth of membership and of understanding of the aims and values of co-operation;

Light Blue: suggests far horizons, the need to provide education and help less fortunate people and strive toward global unity.

Dark Blue: suggests pessimism: a reminder that less fortunate people have needs that may be met through the benefits of cooperation.

Violet: is the color of warmth, beauty, and friendship.

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CO-OPERATIVE IDENTITY

A co-operative is an autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly owned and democratically-controlled enterprise.

Co-operatives are businesses owned and run by and for their members. Whether the members are the customers, employees or residents they have an equal say in what the business does and a share in the profits.

As businesses driven by values not just profit, cooperatives share internationally agreed principles and act together to build a better world through cooperation.

The International Co-operative Alliance is an independent, non-governmental organization established in 1895 to unite, represent and serve cooperatives worldwide. The Alliance provides a global voice and forum for knowledge, expertise and co-ordinate action for and about cooperatives.

In 1995, the Alliance adopted the revised Statement on the Cooperative Identity which contains the definition of a cooperative, the values of cooperatives, and the seven cooperative principles as described below. You can also consult the Guidance Notes on the Co-operative Principles and Values which give detailed guidance and advice on the practical application of the Principles to cooperative enterprise.

CO-OPERATIVE VALUES

Cooperatives are based on the values of self-help, self- responsibility, democracy, equality, equity and solidarity. In the tradition of their founders,

Cooperative members believe in the ethical values of honesty, openness, social responsibility and caring for others.

CO-OPERATIVE PRINCIPLES

1.Voluntary and Open Membership
Cooperatives are voluntary organizations, open to all persons able to use their services and willing to accept the responsibilities of membership, without gender, social, racial, political or religious discrimination.

2. Democratic Member Control
Cooperatives are democratic organizations controlled by their members, who actively participate in setting their policies and making decisions. Men and women serving as elected representatives are accountable to the membership. In primary cooperatives members have equal voting rights (one member, one vote) and co-operatives at other levels are also organized in a democratic manner.

3. Member Economic Participation
Members contribute equitably to, and democratically control, the capital of their cooperative. At least part of that capital is usually the common property of the cooperative. Members usually receive limited compensation, if any, on capital subscribed as a condition of membership. Members allocate surpluses for any or all of the following purposes: developing their cooperative, possibly by setting up reserves, part of which at least would be indivisible; benefiting members in proportion to their transactions with the cooperative; and supporting other activities approved by the membership.

4. Autonomy and Independence
Cooperatives are autonomous, self-help organizations controlled by their members. If they enter into agreements with other organizations, including governments, or raise capital from external sources, they do so on terms that ensure democratic control by their members and maintain their cooperative autonomy.

5. Education, Training and Information
Co-operatives provide education and training for their members, elected representatives, managers, and employees so they can contribute effectively to the development of their co-operatives. They inform the general public – particularly young people and opinion leaders – about the nature and benefits of co-operation.

6. Cooperation among Co-operatives
Cooperatives serve their members most effectively and strengthen the cooperative movement by working together through local, national, regional and international structures.

7. Concern for Community
Cooperatives work for the sustainable development of their communities through policies approved by their members.

SHARE CAPITAL

WHO CAN BE A MEMBER OF THE SOCIETY?

Any employee may be admitted as a member if he/she is on the regular rolls of BHEL HPEP and PE&SD

HOW ONE CAN JOIN THE SOCIETY AS A MEMBER?

The application for membership of the society shall be submitted by the applicant at Society office along with latest pay slip and KYC form, and should pay Rs.6100/- towards the following:

500 shares of Rs.10/- each

Entrance Fee RS.100/-

Thrift Rs. 1000/-

HOW DOES OUR MEMBERSHIP WORK?