Established in 1982, Winkleigh Co-op was built to create affordable housing for those that were accepting of the rules and responsibilities of becoming a member. A Board of Directors comprised of 7 members that live here govern the co-op. Together with the membership, they set and control the overall direction of the co-op to ensure its success as a viable business and a co-operative community.
Housing co-ops serve important social purposes. They offer affordable housing and they build communities where the members work in support of each other, sharing common values.
As a member you are responsible for
- Paying your housing charges in full and on time each month (the co-op does not accept cash as payment)
- Attending all general members' meetings. This is where the major decisions are made, on spending, housing charge rates and elections to the board.
- Keeping your unit reasonably neat and clean and promptly report any maintenance issues to the co-op.
- Abiding by the co-ops by-laws and policies.
The co-op hires a Management Company to look after the day to day business of the co-op. It is the job of the manager to:
1. Managing the finances
2. Keeping the co-op in good repair
3. Keeping the co-op full
4. Meeting your co-op’s legal requirements, and
5. Supporting good co-op governance
Governance is concerned with the overall direction of the co-op – setting policies, adopting budgets and other plans, supervising management and generally seeing to the well being of the co-op. Governance is the job of the directors and the members who elect them.
Managing is the day-to-day work of running the co-op – taking care of the business according to the overall direction set by the board.
Although the roles are different, good management and good governance go hand in hand.