There are many benefits of being in a collective, a coop and collective are used interchangeably.
The differences between the two are:
A collective is a group of entities that share or are motivated by at least one common issue or interest, or work together to achieve a common objective. A collective is an organization that is managed without hierarchy, more like a worker cooperative.
A cooperative is an organization that is owned and democratically-governed by its members, there is a board, a manger people who are making the day to day decisions. Members do have a say with a vote.
The collective co-operative values are:
• Self-help – we help people to help themselves
• Self-responsibility – we take responsibility for, and answer to our actions
• Democracy – we give our members a say in the way we run our businesses
• Equality – no matter how much money a member invests in their share account, they still have one vote
• Equity – we carry out our business in a way that is fair and unbiased
• Solidarity – we share interests and common purposes with our members and other co-operatives.
The ethical values match:
• Openness – nobody’s perfect, and we won’t hide it when we’re not
• Honesty – we are honest about what we do and the way we do it
• Social responsibility – we encourage people to take responsibility for their own community, and work together to improve it
• Caring for others – we regularly fund charities and local community groups from the profits of our businesses.
The principles are the way we put our values into action:
• Voluntary and open membership – membership is open to everyone
• Democratic member control – all members have an equal voice in making policies and electing representatives
• Member economic participation – all profits are controlled democratically by members and for their benefit
• Autonomy and independence – co-operatives are always independent, even when they enter into agreements with the Government and other organisations
• Education, training and information – co-operatives educate and develop their members as well as their staff
• Co-operation amongst co-operatives – co-operatives work together with other co‑operatives to strengthen the co-operative movement as a whole
• Concern for community – co-operatives also work to improve and develop the community, both locally and internationally.