Cooperative is an organizational form of collective property which obeys a series of universal principles for leading the administration. The incomplete separation between property and control and the difficult access to the generated residues result in specific problems and hinder managerial action. The present article, according to the Theory of the Agency, discusses relation between the performance of an organizational form that, by means of the power of the principles need to act into the social development whereas keeping itself economically viable when competing with market oriented organizations and with the expectations of their associates. A questionnaire was developed and applied to the associates of a rural credit cooperative. The answers were treated according to the factorial analysis, which identified associates interest factors. Those factors of interest were compared with the cooperative performance. It was concluded that the associate expects the return on the social capital applied in the cooperative together with a superior quality service, or at an inferior market price. It is understood that there is mixed motivation in the associates expectations, which acts under investor and user logic. The cooperative, according to the identified performance, has shown significant evolution in the indicators that allows deducing the expectations attendance.