There are two kinds of co-ops. There are co-ops where there are dividends and profits earned and returned to the members, and co-ops where there are not. Housing co-ops in Canada are not-for-profit co-ops. So although the members collectively own and are responsible for the asset, they take nothing with them when they leave. They get no dividend. If there are any surpluses generated, they go back to the general good.
On April 23rd, 2009. See this statement in context.