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Cooperative Village is a community of housing cooperatives on the Lower East Side of Manhattan, New York City. The cooperatives are centered on Grand Street in an area south of the entrance ramp to the Williamsburg Bridge and west of the FDR Drive. Combined, the four cooperatives have 4,500 apartments in twelve buildings.
Village cooperatives are cooperatives in rural areas that are engaged in the provision of community needs with agricultural activities. [1] Village cooperatives may also be defined as an umbrella organization of social and economic character and as a forum for the development of rural economic activities organized by the community and for the ...
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He started a tea stall and purchased a few rickshaws. Following the advice of Akhtar Hameed Khan, founder of Bangladesh Academy for Rural Development, he formed a cooperative society to work for the benefit of low income villagers. [1] Deedar Comprehensive Village Cooperative Society won the Independence Award in 1984. [1]
[2] A "patronage dividend" is money paid by a cooperative to its patrons on the basis of business done with these patrons, pursuant to a pre-existing obligation, and based on the net earnings of the cooperative from the business done. [3] In practice, cooperatives typically charge their members for services and refund the profits proportionately.
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Village banking is a microcredit and saving methodology whereby financial services are administered locally in a community bank rather than in a centralized commercial bank. Village banking has its roots in ancient cultures and was most recently adopted for use by micro-finance institutions (MFIs) as a way to control costs.
The cooperative form can be advantageous as a building mortgage can be carried by the cooperative corporation, leaving less financing to be obtained by each co-op owner. Under condominium ownership only the separate condo owners provide financing.