Co-ops must make a profit to properly serve members

C0-OPERATIVES will not be able to properly serve their members if they are not financially stable and viable, Irish Co-operative Organisations Society director general John Tyrrell has warned.

“Some people seem to think that it is not appropriate for the co-op to make a profit, or that it should survive on minimal margins. That is not correct,” he said.

Mr Tyrrell said co-operative members will only have confidence in the business when they see that it is well run and profitable, and capable of making the necessary investments for their future needs.