how can a co-operative society help in the boosting of its finance?

Answer 1

Co-operatives usually can't get bank loans cos they have no collateral, unless it owns a property. Other than that, you can only have a membership drive and increase the no. of members, or increase the monthly membership subsription. But you'll have to explain to members why this is necessary as you'll face natural resistance. Perhaps the alternative is dissolution? If this is a credit co-op and it makes loans to members, it can raise its loan interest to increase income, but again this will face resistance as the aim of a co-op is to benefit members.