Drivers Co-Op Colorado, a new local competitor to Uber and Lyft, promotes fair wages for drivers

COLORADO SPRINGS, Colo. (KRDO) – Uber and Lyft have a new, local competitor – and it's promising fair wages and better working conditions for its drivers.

Driver's Cooperative Colorado works like a standard rideshare app, but every one of the app's drivers works as a part-owner of the cooperative. The employee-owned app was developed by the Rocky Mountain Employee Ownership Center with the aim of addressing the concerns of rideshare drivers.

Since Drivers Co-Op has less drivers than Uber or Lyft, wait times might be a little longer, but fares are often cheaper – and more of that money goes directly into your driver's pocket. Drivers keep 80% of ride fare – significantly more than traditional rideshare apps – while the co-op holds 20% for administration.

The app's developers say that Driver Co-Op's lower prices result from eliminating traditional business models that allow CEOs to earn disproportionately high salaries.

The cooperative offers para-transit and non-emergency medical transportation and is also committed to providing rides to often marginalized communities, such as refugees, immigrants and previously incarcerated individuals.

Safety is also a priority for Driver's Co-Op, which requires its drivers go through extensive background checks and adhere to strict safety standards, including the required use of dash cameras.

Driver's Co-Op is free to download on iOS and Android devices. Just like traditional rideshare apps, the service offers pre-scheduled trips and on-demand services.