Survey of Co-operative Capital Report

06 Mar 2015

Commissioned by the International Co-operative Alliance, the Survey of Co-operative Capital Report examines the debt and equity instruments used to finance the assets and operations of co-operatives. The report looks at capital in co-operatives around the world. It tries to explore how to access additional member capital or external capital while still adhering to co-operative principles.

The research also focused on the special circumstances that apply to smaller and start-up co-operatives, providing an overview of selected programmes and innovations internationally. The survey includes references to new and smaller co-operatives, as well as some of the global 300 and financial co-operatives.

Access to trade credit and bank loans can be more difficult for co-operatives than for other businesses, reads the report. However, many co-operatives have evolved considerably from the original funding model of nominal value members’ shares and internally generated capital, using a range of instruments to raise capital from members and non-members.

Examples of how this can be achieved include reserving common equity-like instruments – those with voting rights – for members and having multiple classes of shares. Other options include proportional voting, although this is not permitted by law in some countries, or sale of debt instruments to non-members. This is the most commonly used sources of external capital used by the largest 300 co-operatives and mutuals.

The report includes various other case studies. At the time of its publication, 5 March 2015, the report is available in english exclusively.

An executive summary is available.



21 Mar 2023

The President of the Republic of Bulgaria Rumen Radev…

09 Mar 2023

Technology has a great impact on our daily personal and…