Seven Cooperative Principles for Credit Unions

Cooperatives around the world generally operate according to the same core principles and values, adopted by the International Cooperative Alliance in 1995. Adherence to these 7 cooperative principals sets credit unions apart from other financial institutions and strengthens the credit union community.

The Board of Directors and Senior Management Team agree that the values of SFCU should align and the 7 cooperative principles have been adopted as the values for SFCU.

    1. 1.  Voluntary, Open Ownership – Open to all without gender, social, racial, political, or religious discrimination. You may shop, you may join, and you may leave the co-op at any time.
    2. 2.  Democratic Owner Control – One Owner, one vote. Your voice will be heard.
    3. 3.  Owner Economic Participation – Owners contribute equitably to, and democratically control, the capital of the cooperative. The economic benefits of a cooperative operation are returned to the Owners, reinvested in the co-op, or used to provide Owner services. You control the capital.
    4. 4.  Autonomy and Independence – Cooperatives are autonomous, self-help organizations controlled by their Owners. Together, you are autonomous.
    5. 5.  Education, Training and Information – Cooperatives provide education and training for owners so they can contribute effectively to the development of their cooperatives. They inform the general public about the nature and benefits of cooperation. You can develop yourself into the consumer you want to be.
    6. 6.  Cooperation among Cooperatives – Cooperatives serve their Owners most effectively and strengthen the cooperative movement by working together through local, regional, national and international structures. You are more successful when you cooperate with others who know how to cooperate.
    7. 7.  Concern for The Community – While focusing on Owner needs, cooperatives work for the sustainable development of their communities through policies accepted by their Owners. You can do something for the community even as you keep succeeding.