Our cooperative society will be bound by its constitution which will be the main governing document. The constitution will be submitted to the Financial Conduct Authority when we apply to be incorporated. It sets out rules for membership, decision making bodies and policies within the organisation. Once it is approved, any amendments to it can only be made as a result of a democratic decision of all members. FCA acts as as a watchdog for the cooperative sector, and any organisation that violates cooperative and democratic principles may be taken off the register of cooperative societies.
All businesses, and co-ops are no exception, exist to generate a profit. However, it is the commitment to values that makes co-ops different. For them (us), profit mustn't be an end in itself, but a means to improve the communities they serve. Below you can read the part of the final draft of our governining document that deals with our objectives as a business. It informs all the members and other stakeholders why our organisation exists and what it is trying to achieve.