The 51.2 hectare property was purchased in 1977 by eight people holding the land jointly as Tenants-in-common. Moonee Creek Co-operative was formed in 1989 and registered on 5 February 1990 as a Community Settlement Society under the Victorian Co-operative Act 1981.

These objectives are extracted from the Rules of Moonee Creek Co-Operative Ltd. (1990)

The objects of the Co-operative shall be:
  1. To settle people on land acquired by the Co-op and to foster living on it in a harmonious and sustainable way and to provide any community service or benefit to its members;
  2. to prepare and improve any land acquired by the Co-op for settlement;
  3. to build and maintain buildings, fences, dams, roads, bridges and any other works required;
  4. to lease land either with or without dwelling-houses or other buildings thereon to its member for the purpose of erecting dwelling units and auxilliary buildings;
  5. to lease or let land to its members for agricultural purpose;
  6. to enter into share-farming or other agreements with members;
  7. to make or arrange loans to members of the Co-op for any of the following purposes, that is to say, purchasing land, making improvements, carrying on farming operations, conserving fodder, procuring agricultural implements and machinery, live stock, fodder, seeds, fruit trees, fertilizers and other farming requisites, doing anything that may increase agricultural production and paying off any debt or liability incurred for any such purpose;
  8. to arrange insurance on behalf of its members;
  9. to provide and carry on any community service including transport and the supply of water, gas and electricity, to supply and install plant fittings and requisites in connection with any community service and to do anything necessary or convenient therefor;
  10. to explore and utilize technologies using renewable energy sources that minimize ecological impact;
  11. to establish, preserve and manage resources which will endure and enhance the integrity of the environment;
  12. to identify areas of land within the land of the Co-op for conservation and to assist each other and visitors to the co-op in understanding and enjoying the land whilst living in harmony with it;
  13. to carry out all activities with care and respect for the land of the Co-op and the wider environment such that:
    1. the land is managed on sound ecological principals;
    2. organic farming and gardening methods are used;
    3. use of artificial pesticides, herbicides and fertilizers be banned unless specifically approved by the members in special circumstances.
  14. whenever feasible, use to be made of local and salvaged building materials compatible with the environment;
  15. to acquire, provide or maintain land and/or buildings for community purposes, and to assist clubs, societies and other groups in such purposes that will be of benefit to the Co-op and its members;
  16. to promote and carry out any educational or charitable purpose;
  17. to establish co-operative networks for the purpose of sharing material resources, personal skills and the produce of the land for the benefit of its members and the wider community;
  18. to assist the co-operative's members in purchasing materials for construction of houses and any other buildings and to assist members with construction and maintenance of the houses and other buildings;
  19. to provide, operate and maintain services and enterprises that will promote the economic and social interests of the Co-op and its members;
  20. to ensure that no recreational hunting, fishing or shooting takes place on the Co-op's land;
  21. to establish and maintain effective fire prevention and to purchase and maintain fire fighting equipment in accordance with advice from local authorities.