The paper examines the role of cooperative organization in social, economic development of a nation. The paper aims to investigate the ways in which cooperatives can act as agents towards sustainable community development. The paper is qualitative and expository. The paper posits that for over 160 years now cooperatives have been an effective way for people to exert control over their economic livelihoods as they play an increasingly important role in facilitating job creation, economic growth and social development. The paper concludes that to be effective and successful, cooperatives must continuously achieve two inter-related goals and improve the ability to service its members and remain an economically viable innovation and comparative enterprise.