The Consumers Cooperative Society of Santa Monica was formed in 1936 by a small group of individuals working together to enhance the lives of members and their community.
Proudly Serving Our Members for Over 75 Years
Now close to 30,000 members strong, the Santa Monica Co-Op is dedicated to providing a variety of services our members need. At the same time, we are committed to supporting local communities through education, financial literacy and community service.
Source: International Summit of Cooperatives
The Spanish football club Real Madrid is structured as a member-owned cooperative society. The members have owned and operated the club since its inception, more than 100 years ago. Spanish cooperative clubs like Barcelona and Real Madrid cannot be listed on the stock market and can only raise financing from fans.
The club can also afford to spend spectacular amounts on transfers, because its annual revenues have made it the biggest club in the world. According to Deloitte, Real Madrid’s revenues reached £440m (nearly $737 million) in the 2011/2012 season.
Currently on his fourth term, club President Florentino Pérez has throughout years led a campaign of acquiring the best football players in the world, including Luis Figo, Zinedine Zidane, David Beckham, Ricardo Kaka and Cristiano Ronaldo. While Pérez’s policy focused on exploiting the club’s marketing potential has attracted some criticism, the club’s ownership structure has been praised by a number of senior football figures, including UEFA President Michel Platini. The French football legend said he “loved” the management structure of Real Madrid and Barcelona because the members remained responsible for the club and their decisions.
Read the full article in Co-Operative News »
Did you know?
- Over 1 billion people are members of cooperatives worldwide.1
- It is estimated that cooperatives account for more than 100 million jobs around the world, 20% more than multinational enterprises.1
- In the United States, more than 29,000 co-operatives operate in every sector of the economy and in every congressional district. Americans hold over 350 million co-operative memberships. 2
- Land O’ Lakes, Ace Hardware and Ocean Spray are cooperatives.