What is a co-op?

Maybe you’ve been wondering where exactly the “co-op” part of our name comes from.

Let’s start with a quote shall we? How about something from someone super credible… like hey, the United Nations. As it is, 2012 just so happened to be the UN International Year of the Co-operative, and they give us a real nice definition for it:

“Cooperatives are a reminder to the international community that it is possible to pursue both economic viability and social responsibility….Cooperatives are business enterprises owned and controlled by the very members that they serve. Their member-driven nature is one of the most clearly differentiating factors of cooperative enterprises. This fact means that decisions made in cooperatives are balanced by the pursuit of profit, and the needs and interests of members and their communities. Cooperatives take many forms and operate in all sectors of society. Most share a unique set of principles which keep them attuned with their member-driven characterization.”

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From the initial conception of the Lunik project, being run as a co-operative was central to ensuring that Lunik remained “by students, for students”. Each student contributes to Lunik through their student fees, which means that every Glendonite is an equal member of the Lunik Co-op. That’s important, because it gives each and every student an equal opportunity and right to attend meetings, volunteer, and contribute to the functioning of Lunik.

All revenues collected from our daily operations go directly back into growing Lunik. That means unlike a traditional business model, all profits go back to the consumer- Glendon students!

Co-operatives are a pretty interesting and exciting form of business and Lunik is extremely proud to introduce the Glendon community to this structure. If you want to learn more about co-operative give us a shout, education is what we’re all about!