Senate supports co-op model: vital role in agriculture, finance, and rural utilities
The US Senate expresses support for the cooperative business model, recognizing its vital role across the economy, particularly in agriculture, finance (like credit unions), and delivering essential public services (electricity, broadband) in rural areas. For citizens, this highlights the importance of organizations where members have democratic control, share profits, or benefit from lower costs, often providing necessary services where traditional companies do not operate. The resolution is symbolic and commits the Senate to protecting this business model in future legislation.
Key points
Cooperatives (e.g., credit unions, housing co-ops) are commended for providing members with democratic control and returning profits as cost savings or dividends.
Emphasis on utility cooperatives delivering electricity, water, and broadband, serving 56% of US landmass, including areas with persistent poverty.
The Senate commits to being mindful when drafting future legislation to ensure it does not negatively affect the cooperative business model.
Status:
Adopted
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