Glossary

A shared language helps.

Short explanations for conversations about co-operative ownership, governance and practical operations. These are starting points, not legal definitions.

Look up a term

41 terms

Account owner: The person or organisation recognised as controlling a digital account. Distinguish this from an administrator who merely has permissions to use it.
Asset lock: A restriction on how an organisation’s assets may be used or distributed. Its scope depends on the legal form and governing documents; do not assume every co-op has the same lock.
Backup: A separate recoverable copy of information. A useful backup plan includes checking that a copy can actually be restored.
Board: The people appointed or elected to govern an organisation under its rules. A board can delegate work while remaining accountable for its responsibilities.
Business model: How an organisation provides something useful, pays its costs and sustains its work. Co-operative ownership does not remove the need for a viable business.
Capital: Money or other resources committed to an organisation. Member shares, loans and retained surplus have different rights and risks.
Cash flow: The timing of money coming in and going out. A business can make a surplus on paper yet struggle to pay a bill when it falls due.
Co-operative: An organisation based on people meeting shared needs through joint ownership and democratic control. The identity describes an ownership approach, not one universal legal form.
Co-operative society: A registered-society form for a business run for the mutual benefit of members under the applicable law and registration requirements.
Common bond: The qualifying connection that determines membership eligibility for a credit union, such as location, employment or an association. Check the particular credit union’s terms.
Community benefit society: A registered society organised to benefit the community. It is legally distinct from a co-operative society; community benefit does not by itself prove member co-operative ownership.
Community shares: A term commonly used for withdrawable share capital in co-operative and community benefit societies. Capital is at risk; withdrawal depends on rules and decisions and may be refused or suspended.
Consensus: A decision method that seeks an outcome participants can support or accept. Groups need an agreed process for objections, limits and unresolved decisions.
Consumer co-op: A co-operative owned and controlled by people who use its goods or services. Member rights and benefits depend on its rules.
Credit union: A member-owned financial organisation with membership eligibility rules and specific regulation. Check the official register and current product terms.
Delegation: Giving a person or group authority to do specified work or make specified decisions. Clear limits, reporting and review help keep delegation accountable.
Democratic control: Arrangements through which members govern their organisation. The rules set out voting, elections and member decision rights.
Director: A person with governance responsibilities under the organisation’s legal form and rules. Duties are more than a job title; seek appropriate advice and training.
Dividend: A distribution to members when permitted and agreed. Its basis and availability vary; membership does not guarantee a payment.
Domain name: The registered name used to reach a website or email service. Record the organisation’s control, registrar, renewal and recovery arrangements.
Employee ownership trust: A trust-based employee ownership arrangement. It is not automatically a worker co-operative; examine control, representation and the governing documents.
FCA Mutuals Register: A public register of mutual societies. An entry does not mean every activity of that organisation is authorised as a financial service.
General meeting: A meeting of members convened under the rules to carry out member business, such as elections or decisions reserved to members.
Governance: How authority, decisions and accountability are organised. It includes what members decide and how they oversee delegated work.
Governing documents: The formal documents defining an organisation’s purpose, powers and decision arrangements, such as rules or articles of association.
Housing co-op: A co-operative arrangement through which members participate in owning or managing housing. Occupancy and participation requirements vary.
Induction: A structured introduction to a member’s rights, responsibilities, work and sources of help. It should explain how to participate, not just provide documents.
Legal form: The legal structure through which an organisation operates, such as a company or registered society. It is separate from sector and membership model.
Member: A person or organisation admitted under the governing rules with specified rights and responsibilities. Customers, employees and volunteers are not automatically members.
Model rules: A starting set of governing rules made available for a particular type of organisation, often through a sponsoring body. They need appropriate review and adoption.
Multi-factor authentication: An account sign-in method requiring more than one kind of proof. Keep recovery methods accessible to authorised people and away from shared public documents.
Multi-stakeholder co-op: A co-op with more than one member group, such as workers and service users. Representation and voting arrangements are defined in its rules.
Mutual: An organisation organised around mutual interests or member benefit. The term covers more than co-operatives; check the particular model and legal status.
Quorum: The minimum participation required for a meeting or decision to proceed under the rules. Check how it is calculated and what happens if it is not met.
RSS feed: A public feed that lets a reader app follow newly published articles. Following an RSS feed does not require giving this site an email address.
Recovery reference: A note telling an authorised person where recovery instructions or credentials are securely held. It should not contain the password or secret itself.
Registered society: A society registered under the relevant legislation. Co-operative societies and community benefit societies have distinct purposes and requirements.
Reserves: Resources retained by an organisation rather than distributed. A reserves policy can explain what is held, why and who can authorise its use.
Social enterprise: A business pursuing social or environmental purposes. It is not a legal form and does not automatically mean co-operative ownership.
Surplus: Income remaining after the relevant costs. Its treatment depends on the organisation’s rules, obligations and agreed priorities.
Worker co-op: A business democratically owned and controlled by its worker members. Eligibility, employment arrangements and membership processes vary.