unit 1 co operatives the basics l.
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Unit #1 Co-operatives: The Basics. What is a Co-operative?. A legally incorporated business, owned by its members who use its services. Like other businesses a co-op: Requires start up capital/equity Generates revenue to cover its costs Must provide quality services

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what is a co operative
What is a Co-operative?
  • A legally incorporated business, owned by its members who use its services. Like other businesses a co-op:
    • Requires start up capital/equity
    • Generates revenue to cover its costs
    • Must provide quality services
    • Can distribute profits back to its owners
    • Can retain profits for future needs
    • Goal is financial self sufficiency
    • Have limited liability for owners
    • Can borrow money/sign contracts
    • Pay business taxes
co ops are different from private enterprise
Co-ops are Different From Private Enterprise
  • Owners benefit from use of the co-op’s services
    • Not seeking a financial return on their investment
  • Decision making is democratic – one member/vote
    • Not based on number of shares held
  • Profits are allocated based use of the co-op’s services
    • Not based on number of shares held
  • A co-ops business assets are owned collectively by local members
    • Cannot be used for private gain
  • Co-ops have stated social as well as economic goals
    • Profit is not the only concern


who are co op members
Who are Co-op Members?
  • They are:
    • Individuals who access retail, financial, housing & health care services
    • Business operators who benefit from bulk purchasing, sharing facilities & joint marketing activities
    • CED and other nonprofit groups that share equipment, office space, etc. to reduce operating costs
types of co operatives in nl
Types of Co-operatives in NL
  • Financial - providing banking, investment services
    • Nfld. & Labrador Credit Union
    • Hamilton Sound Credit Union
  • Retail – groceries, hardware, building supplies
    • Indian head Consumer’s Co-op
    • Gander Consumer’s Co-op
  • Service – health care, housing, childcare
    • North Shore Central Ambulance Co-op
    • Advocate Youth Services Co-op
types of co operatives in nl6
Types of Co-operatives in NL
  • Producer – fishery, farming, filmmaking, crafts
    • Northeast Coast Sealer’s Co-op
    • Nfld Independent Filmmakers co-op
  • Worker – provides members with employment
    • Extension Community Development Co-op
  • Multi-stakeholder – membership categories
    • Blueberry Industry Co-op
    • Fogo island Co-op
co operative profile international
Co-operative Profile: International

Ocean Spray

  • Agricultural Co-op formed 75 years ago
  • Owned by 800 cranberry growers in U.S. & Canada
  • Has over 2000 employees
  • Leading producer of canned & bottled juice drinks in North America
  • $1.4 billion in gross sales
co op profile national
Co-op Profile: National

The Co-operators Group

  • Formed in 1945 by Saskatchewan farmers
  • Largest Canadian multi-product insurance company
  • Assets exceeding $5.7 billion
  • Owned by 37 co-op organizations in Canada
  • NL Federation of Co-ops is a member-owner
co op profile provincial
Co-op Profile: Provincial

Fogo Island Co-op

  • Formed in 1967 to resist resettlement
  • Development process pioneered the use of community television to organize residents
  • “Fogo Process” used as community development tool around the world
  • Co-op now has fleet of 30 long-liners, 3 fish plants, laboratory and marine service centre
  • Annual sales of approx. $20 million
co op profile provincial10
Co-op Profile: Provincial

Eagle River Credit Union

  • Formed in 1984 when BMO pulled out to lack of business
  • Received strong support from Caisse Populaire in Blanc Sablon & local businesses
  • Now second largest credit union in the province
  • Full service credit union with 6300 members
  • Has 6 branches & $63 million in assets
co op profile provincial11
Co-op Profile: Provincial

Advocate Youth Services Co-op

  • Formed by young people in Baie Verte in 2007 to:
    • Engage local youth in the community development process
    • Undertake community infrastructure projects
    • Develop other opportunities for youth employment
    • Engage in training & career development activities
    • Support member participation in youth camps, conferences & other provincial events
preview of other next units
Preview of Other Next Units
  • Unit 2: Co-ops as a Business Model
  • Unit 3: Co-operative Principles, Legislation & Governance
  • Unit 4: The Existing Co-operative System
  • Unit 5: Developing a Co-operative