Stock Ownership Plans, where workers own shares for retirement; see, for example, Bob's Redmill) that implement democratic governance are colloquially referred to as "ESOPeratives." In 1996, New Zealand passed the Cooperative Companies Act. In 2003 the Statute for a European Cooperative Society created a specific legal structure for cooperatives in the EU. Facts and Figures on Cooperatives There are about 3 million cooperatives on the planet. 12% of global humanity is a member of a cooperative. 1 in 3 Americans are coop members. 1.5 million Americans live in a housing cooperative. Cooperatives electrically power 56% of the United States' landmass and 42 million people. Coops possess over $1 trillion in assets worldwide and over $640 billion in annual sales. 92 million Americans turn to 7,500 credit unions (client-owned cooperatives) for financial services; 50,000 American families rely on cooperative day-care facilities. The Navy Federal Credit Union (founded 1933) is the world's largest credit union with 10.8 million members, 345 branches, and $147.9 billion in assets, serving the men and women of the Armed Forces, Department of Defense, veterans and their families. The largest worker-cooperative is Mondragon Corporation in Spain, which has over 80,000 associates (workers). The largest cooperative sector by membership is mutual insurance, with over a quarter million members. The most comprehensive data-collection on the largest cooperatives comes from the World Cooperative Monitor. Distinctives Cooperatives are different from conventional firms in that the purpose of the firm is not to profit shareholders, but to benefit its members (whether workers, consumers, suppliers or purchasers). Because parts of the cooperative movement were anti-capitalist but not as revolutionary as Marx (who aimed to abolish all private property), Marx and Marxists were hesitant about supporting the cooperative movement (especially consumer cooperatives) in the 19th century. The value of consumer vs. worker cooperatives continues to be debated by theorists, activists, and scholars (see below). The International Cooperative Alliance provides seven principles of cooperatives, each that contrasts with capitalist firms: "Voluntary and Open Membership" (in contrast to coerced/involuntary participation) "Democratic Member Control" (in contrast to nondemocratic control) "Member Economic Participation" (in contrast to purely transactional relationships and closed-book management) "Autonomy and Independence" (in contrast to state-owned or corporate-ownership) "Education, Training, and Information" (in contrast to "Mushroom management" where workers are "kept in the dark," and information is intentionally funneled through power channels) "Cooperation among Cooperatives" (in contrast to competition amongst firms) "Concern for Community" (in contrast