Harvard/MIT Cooperative Society
| Company type | Retail cooperative |
|---|---|
| Industry | Retail (bookstores and general merchandise) |
| Founded | 1882 |
| Headquarters | Cambridge , United States |
Area served | Harvard University, Massachusetts Institute of Technology |
Key people | Board of directors (11 student representatives, 11 faculty/alumni/officials), President (ex officio) |
| Products | Books, school supplies, general merchandise, Coop Diary |
| Parent | Barnes & Noble College Booksellers (operations) |
| Website | www |
The Harvard/MIT Cooperative Society, commonly known as The Coop (pronounced as one syllable[1]), operates as a retail cooperative serving the campuses of Harvard University and MIT in Cambridge, Massachusetts. Although open to the public for shopping, special discounts and perks are exclusively available to members of the Coop. As of 2020[update], The Coop maintains three store sites at Harvard and two at MIT.[2] The flagship location is situated centrally in Harvard Square, directly opposite the headhouse of the Harvard subway station.
Established in 1882 as the Harvard Cooperative, its initial purpose was to provide books, school supplies, and fuel such as wood and coal for heating during winter months.[1] After MIT relocated from Boston to Cambridge in 1916, it invited the Coop to establish a branch on its campus, where it has remained ever since.[1] At present, The Coop ranks among the largest bookstores affiliated with college campuses.[1]
Membership eligibility is limited to students, faculty, alumni, and employees affiliated with MIT, Harvard, and staff connected to hospitals associated with Harvard Medical School.[3] Since 1882, the annual membership fee has remained at $1 without any increase.[1] Members have access to purchase items such as the Coop Diary—a black pocket diary combining an academic calendar and address book. Traditionally, The Coop distributed its yearly profits back to members via a rebate each October. However, Template:Asof, this rebate system was replaced by an automatic 10% discount at checkout for members in good standing.[4]
Operations of The Coop stores are conducted by Barnes & Noble College Booksellers, overseen by a board of directors consisting of eleven student representatives elected by the student membership. An additional eleven seats are held by faculty, alumni, or officials from MIT or Harvard, while the Coop’s president serves ex officio on the board.[5]
In 2014, The MIT branch became the first university bookstore in the United States to accept payments via bitcoin.[6]
For many years, the MIT location operated a department store and general bookstore at 325 Main Street, making it Kendall Square’s largest retail establishment. In February 2019, this store relocated temporarily to a smaller site at 80 Broadway to facilitate demolition of its former building. A new sixteen-story structure has been erected on that site, and The Coop is anticipatedTemplate:Update inline to return to a space larger than its temporary quarters but potentially smaller than its previous premises there.[7]
References
- ↑ 1.0 1.1 1.2 1.3 1.4 "About Us". TheCoop: the Harvard/MIT Cooperative Society Store. The Harvard/MIT Cooperative Society. Retrieved March 31, 2014.
- ↑ "Store Locations - The Coop". Store.thecoop.com. Harvard Cooperative Society. Retrieved July 7, 2014.
- ↑ "Membership". TheCoop: the Harvard/MIT Cooperative Society Store. The Harvard/MIT Cooperative Society. Retrieved March 31, 2014.
- ↑ "Patronage Rebate". TheCoop: the Harvard/MIT Cooperative Society Store. The Harvard/MIT Cooperative Society. Retrieved March 31, 2014.
- ↑ "Student Elections". TheCoop: the Harvard/MIT Cooperative Society Store. The Harvard/MIT Cooperative Society. Retrieved March 31, 2014.
- ↑ Borchers, Callum (September 4, 2014). "MIT Coop to accept bitcoin payments". The Boston Globe. Retrieved September 4, 2014.
- ↑ Hennacy, Kaitlyn (February 14, 2019). "MIT COOP building to be demolished, replaced". The Tech. Retrieved March 23, 2020.