Non-profits, Co-ops, Credit Unions, etc.

Notes by Denisse

1.Nonprofit organization: Economic organization that operates like a business but does not seek financial gain.
· Works in a businesslike way to promote the collective interests of its members rather than to seek financial gain for its owners.
2. Co-up or cooperative: A voluntary association formed to carry on some kind of economic activity that will benefit its members. Co-ups can have a variety of goals. They fall into three major categories: consumer, service, and producer.
· Consumer co-up: A voluntary association that buys bulk amounts of goods such as food or clothing on behalf of its members.
· Service co-up: Provides services such as insurance, credit, or child care to its members rather than goods.
· Producer co-ups: helps members promote or sell their products.

3. Credit union: A financial organization that accepts deposits from, and makes loans to, employees of a particular company or government agency.
4. Labor unions: An organization of workers formed to represent its members’ interests in various employment matters.
· The union participates in collective bargaining when it negotiates with management over issues such as play, working hours, healthcare coverage, vacations, and other job- related matters.
· Unions also lobby for laws that will benefit and protect their workers.
· Largest labor union in the United States: the American Federation of Labor-Congress of Industrial Organizations (AFL-CIO).
4. Chamber of commerce: A nonprofit organization of local businesses formed to promote their interests.
· The typical chamber sponsors activities ranging from educational programs to lobbying for favorable business legislation.
5. Professional association: Nonprofit organization of professional or specialized workers seeking to improve working conditions, skill levels, and public perception of its profession. Ex. The American Medical Association (AMA).