Cooperative Ownership

Eekos Ltd is an equally co-owned UK company.

It is a “Company Limited By Guarantee” and as such, does not have shares.

It is set up with employees being “members”  entitled to  one equal voting right each on decisions on how the company is run and how finances are allocated. 

So Eekos is owned equally by all members.

As a cooperative, Eekos Coop Ltd observes the  internationally recognised Cooperative Values and Cooperative Principles as defined by the “International Cooperative Alliance”.

Co-operative Values

The Cooperative Values are 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

The cooperative principles are guidelines by which cooperatives put their values into practice.

We are a “Cooperative Company” and follow the “Cooperative Principles” as defined in the International Co-operative Alliance Statement of Cooperative Identity. 

These principles are;

1. Voluntary and Open Membership

Cooperatives are voluntary organisations, 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 organisations 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 cooperatives at other levels are also organised 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 organisations controlled by their members. If they enter into agreements with other organisations, 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

Cooperatives 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 Cooperatives

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.

More details can be found on the ICA website – https://www.ica.coop/en/cooperatives/cooperative-identity

Next – Unique Structure