The Rochdale Society of Equitable Pioneers, founded in 1844, was an early consumers' co-operative, and one of the first to pay a patronage dividend, forming the basis for the modern co-operative movement.[1] Although other co-operatives preceded it,[2] the Rochdale Pioneers co-operative became the prototype for societies in Great Britain. The Rochdale Pioneers are most famous for designing the Rochdale Principles, a set of principles of co-operation, which provide the foundation for the principles on which co-ops around the world operate to this day. The model the Rochdale Pioneers used is a focus of study within co-operative economics.