This common bond of ideals and principles of modern cooperation is traced back to 1844 when a group of 29 weavers pooled their savings and opened the first successful consumer co-op on Toad Lane in Rochdale, England. These early co-opers saw themselves on a largely social mission, to provide for themselves cheap goods and services, which the burgeoning Industrial Revolution was keeping out of their reach in the service of personal profit. Their cooperative started out small, only selling a few staple items, but within a few years they had branched out generating annual sales of $100,000. In bringing their social vision to life, the Rochdale Pioneers developed specific guidelines for the operation of their co-op. Today we call these guidelines the "cooperative principles". Though updated and modified, the principles bear the same social vision of these co-op pioneers. This vision has been shared by thousands of cooperatives around the world which have adopted these principles as their own, and used them to help organize cooperative businesses. Definition: A co-operative is an autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly-owned and democratically- controlled enterprise. Values: Co-operatives are based on the values of self-help, self- responsibility, democracy, equality, equity, and solidarity. In the tradition of their founders, co-operative members believe in the ethical values of honesty, openness, social responsibility, and caring for others. Principles: The co-operative principles are guidelines by which co-operatives put their values into practice. First Principle: Voluntary and Open Membership Co-operatives are voluntary organizations, open to all persons able to use their services and willing to accept the responsibilities of membership, without gender, social, racial, political, or religious discrimination. Second Principle: Democratic Member Control Co-operatives are democratic organizations controlled by their members, who actively participate in setting their policies and making decisions. Men and women serving as elected representatives are accountable to the membership. In primary co-operatives members have equal voting rights (one member, one vote) and co-operatives at other levels are organized in a democratic manner. Third Principle: Member Economic Participation Members contribute equitably to, and democratically control, the capital of their co-operative. At least part of that capital is usually the common property of the co-operative. They usually receive limited compensation, if any, on capital subscribed as a condition of membership. Members allocate surpluses for any or all of the following purposes: developing the co-operative, possibly by setting up reserves, part of which at least would be indivisible; benefiting members in proportion to their transactions with the co-operative; and supporting other activities approved by the membership. Fourth Principle: Autonomy and Independence Co-operatives are autonomous, self-help organizations controlled by their members. If they enter into agreements with other organizations, including governments, or raise capital from external sources, they do so on terms that ensure democratic control by their members and maintain their co-operative autonomy. Fifth Principle: Education, Training, and Information Co-operatives provide education and training for their members, elected representatives, managers, and employees so they can contribute effectively to the development of their co-operatives. They inform the general public -- particularly young people and opinion leaders – about the nature and benefits of co-operation. Sixth Principle: Cooperation Among Co-operatives Co-operatives serve their members most effectively and strengthen the co-operative movement by working together through local, national, regional, and international structures. Seventh Principle: Concern for Community While focusing on member needs, co-operatives work for the sustainable development of their communities through policies accepted by their members.