The hierarchy of the cooperative societies is usually very flexible. It usually depends on the type of the cooperative society. It is usually managed by a managerial team.

cooperative society is a voluntary association of people for their common economic development.

Types:

consumer cooperative

producers cooperative

market cooperative

credit cooperative

framing cooperative

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A cooperative societies or businesses are places where people can pay to have a share in a crop or livestock, as well as other products. They also help take care of the crop or livestock in turns. Some of these in Nigeria are: consumer cooperative society, thrift and credit cooperative society, retail and wholesale cooperative society.

Cooperative banks are governed by the provisions of State Cooperative Societies Act and meant essentially for providing cheap credit to their members. it is an important source of rural credit in India.