Co-op (noun)

1. A business or organization owned and run jointly by its members, who share the profits or benefits.
2. A housing cooperative.

Origin:

Short for cooperative.

Examples:

1. He joined the co-op to buy groceries at a discounted price.
2. The co-op was a group of farmers who sold their products together.
3. They lived in a co-op housing complex.
4. The co-op was a credit union owned by its members.
5. The co-op was a group of artists who rented a studio together.