Part 3 - Co-operative Securities

This Part looks at general concepts of equity and debt investment and then describes the three main types of securities that can be issued by co-operatives. The concept of membership, withdrawable shares and additional shares are described and explained. The specific characteristics of share capital issued by co-operatives are described in detail with reference to the need to consider capital requirements at different stages of a co-operative’s development. Methods of dealing with liquidity issues arising from withdrawable share capital are also considered.