A Cooperative Financial Model: A Case Study at the Cooperative of Ex-Migrant Workers Kulon Progo

This study aims to describe or explain the financial model occurring at the Cooperative of Ex-Migrant Workers Kulon Progo. This research is important because Ex-Migrant Workers relatively few forms a cooperative. This research was conducted at the Cooperative. Data collection is done by observation and interviewing. Based on the data collected, the financial management practices in this cooperative is relatively unique, namely the result of renting small place (lapak). The source of revenue of this cooperative is from the rental of lapak that has been made by the cooperative. The lapak tenants are the members of the cooperative. They are the Ex-Migrant Worker. In the first year, the rental model runs quite well but in the following years (currently) the rental model does not work well. This is because many lapak tenants do not sell their products in the lapak. This is due to the few visitors come to lapak. This financial management practices are very different from other cooperatives because other cooperatives apply savings and loans. This savings and loan model can bind the relationship between cooperatives and members. Meanwhile, the rental model applied by the Ex-migrant Worker cooperative causes a lack of relationship between cooperative and members. This is shown by the lower participation of members to attend the meeting. Members did not pay orderly for mandatory and voluntary contributions. The Cooperative knows this weakness, but they continue to apply the rental model for lapak to the public. This can be a financial resource for cooperatives to carry out the activities regularly.