Credit gives the word to pay either by repaying it or returning those resources later. In other words, this credit is the method of making the reciprocity formal, legally enforceable, and of course, extensible to a vast group of people who are not related.
However, the resources provided may be financial or have goods or services, like consumer credit. The credit covers any form of deferred payment. Credit generally gets extended by the creditor, the debtor or lender, and sometimes the borrower.
The definition of cooperative means mutual assistance or cooperation to achieve any common objective. It also means a cooperative housing society, business, farm, or any other establishment, where the ownership rests with all the members and they run it for their benefit as well.
A cooperative is a good way to enter into property ownership, although you will not have outright ownership over your unit, but rather an ownership stake or share in the entire cooperative. Housing cooperatives and societies are legal establishments or corporations that hold ownership of real estate buildings and communities with all their buildings and amenities as well.
