International Day of Cooperatives - 02 July.

Every year on the first Saturday of July, the International Day of Cooperatives celebrates the cooperative movement. The day also highlights the complementary goals, objectives, and contributions of cooperatives around the world.

Cooperatives are organizations established to purchase and market the products of its members. Also known as co-ops, theses associations of persons unite to meet common economic, social, and cultural needs.

The oldest cooperative was formed in Scotland in 1761. In 1895, the International Cooperative Alliance (IAC) was founded. Today, there are 3 million cooperatives in the world. The six main types of cooperatives include producer, worker, consumer, credit unions, purchasing, and social.

Cooperatives offer many benefits to its members and surrounding communities. Some of those benefits include:

  • Helping to tackle poverty and create food security
  • Providing more affordable finance options
  • Developing and passing on business expertise
  • Contributing to sustainable economic growth

Beyond these benefits, cooperatives stimulate job creation by employing over 100 million people around the world.

Since 1923, the International Day of Cooperatives has been held on the first Saturday in July. The IAC, along with the international cooperative movement, are credited for establishing the day. In 1992, the United Nations General Assembly proclaimed a resolution to make the first Saturday of July in 1995 the official International Day of Cooperatives. This date marked 100 years since the formation of the IAC. Since 1995, the UN and the IAC have partnered with one another to organize the annual event. The Committee on the Promotion and Advancement of Cooperatives (COPAC) also plays a role by selecting a theme each year. 

On July 2, cooperatives all around the world will celebrate the 100th International Day of Cooperatives (#CoopsDay). A decade on from the UN International Year of Cooperatives, which showcased the unique contribution of cooperatives to making the world a better place, this year’s #CoopsDay slogan — “Cooperatives Build a Better World”— echoes the theme of the International Year.

Source: www.un.org


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