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7 principles of housing co-operatives

Adopted by the International Co-operative Alliance in Manchester, United Kingdom, on September 23, 1995.

  1. Co-op membership is open to everyone willing to join who accepts the responsibility of membership.

  2. Members are not accepted simply because they can afford to join. A co-op is formed to provide a service, not to make a profit.

  3. Racial and other forms of discrimination are not allowed. Housing co-ops have proven to be a successful mix of different peoples and different income groups.

1st Principle: Voluntary and Open Membership
2nd Principle: Democratic Member Control

  1. Co-operatives are democratic, run by the members for the members.

  2. No decisions are made without member support. All members have an equal say in managing and operating the co-op.

     

3rd Principle: Member Economic Participation

  1. Members contribute equitably to and democratically control the capital of their co-operative.

  2. Members receive limited compensation, if any, on shares.

  3. Surpluses are used for the following purposes: developing the co-operative and supporting other activities approved by the membership.

  4. No member can profit on money invested in the co-operative.

4th Principle: Autonomy and Independence

Co-operatives are autonomous, self-help organizations controlled by their members. If they enter into agreements with other organizations, including governments, they do so on terms that ensure democratic control by their members and maintain their co-operative autonomy.

5th Principle: Education, Training and Information

Every co-op member has the right and the responsibility to participate, to help make decisions and give leadership. Every co-op has the responsibility to give its members the training and information they need to do this.

6th Principle: Co-operation Among Co-operatives

Co-ops share ideas and co-operate with other co-ops as often as possible. Working together, co-ops can help each other solve common problems. Working together, co-ops can have a greater political voice at Federal, Provincial and Municipal levels.​

7th Principle: Concern for Community

While focusing on member need's, co-operatives work for the sustainable development of their communities through policies accepted by their members.

Subsidy information

This Co-op has a fixed number of subsidies and they do not become available for assignment often.  

There are a number of criteria for receiving a subsidy including:

  • a member in the unit is a senior citizen.

  • a member in the unit has a physical disability.

  • a member in the unit is living on social assistance.

 

The amount of subsidy anyone receives is based on a formula related to your subsidy; commonly there is a maximum percentage of the household income.

To apply for a subsidy, you will need to provide proof of your income and, possibly, your assets.

The information provided regarding subsidy applications is collected for a government office and is not available to other members in the Co-op.

For more information on housing programs or to apply for subsidy in the County of Lambton, please visit www.lambtononline.ca

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