Canada

Co-operatives are... putting people first

Co-operatives are... putting people first

A poster for Canada Co-op Week October 11 - 17, 2009

Co-operatives are... creating sustainable jobs

Co-operatives are... creating sustainable jobs

A poster for Canada Co-op Week October 11 - 17, 2009

Co-operatives are... investing in communities

Co-operatives are... investing in communities

A poster for Canada Co-op Week October 11 - 17, 2009

Beaver Creek to Recover Frozen Money

Steve Furino

My trustee Google Alert as informed me that things are progressing in Beaver Creek's attempt to recover our $93,000 frozen in asset-backed commercial paper (ABC paper). Here is a small quote from an interview The Record had with Steve Furino yesterday.

This week's court approval of a plan that paves the way for the Beaver Creek Housing Co-operative where he lives to finally get back $93,000 in what he thought was a safe investment still has him wary. "I'm thrilled and relieved," he says.

But he notes there have been 13 or 14 postponements in the past.

Although everything has been signed, it will still take about a month before funds will actually be made available, and that is assuming there isn't yet another postponement.

Cooperaitve Housing Federation of Canada Creates a Federal Election Action Centre

CHF Canada's Act Logo for the 2008 Federal Election

The Cooperaitve Housing Federation of Canada (CHFC) has created a Federal Election Action Centre which details how we can help solve the housing problems in this country. Their list of advice includes:

Be sure to visit the site, to learn more and help do your part.

Co-ops welcome Liberal commitments on energy retrofits and promise of more housing announcements

I just got this email blast from the Cooperative Housing Federation of Canada.

Liberal leader Stéphane Dion made an announcement of funding to help co-op members and other Canadians renovate their homes to conserve energy. The event took place at Pine Ridge Housing Co-operative in Burnaby, which is exploring the option of converting to thermal heating. In a discussion with housing co-op members, the Liberal leader also promised to reveal his plans for social and co-op housing later in the campaign.

This promise addresses one of the key issues CHF Canada and housing co-ops are raising in this election.

CHF Canada welcomes this major announcement and looks forward to hearing more from all parties during this campaign.

Canada's Olympic Flag Bearer a Co-op Kid

Adam van Koeverden

Adam van Koeverden carried Canada's flag at the opening ceremonies of the Beijing Olympics. Van Koeverden, a kayaker who won a silver in Beijing and gold and bronze medals in Athens, grew up at Chautauqua Co-operative Homes in Oakville, Ontario -- where his mother, Beata Bokrossy, still lives.

It’s not just ability that wins medals. It takes a very secure person to take the kind of personal risks and do the kind of work that Adam did, and the community was a big part of that. I don’t think that as a single parent raising two kids that I would have had the sense of personal security that I had if I hadn’t lived in a co-op, and that can’t help but have been transferred to my children. Adam is a co-op kid who understands and appreciates the value of having grown up in a co-op.

The Difference between Banks and Credit Unions

Alberta's Common Wealth Credit Union has created the Young & Free chequing account which offers a ton of free features for young people aged 17 to 25.

Here are their two very entertaining and informative videos that explain the difference between banks and credit unions.

The Difference between Banks and Credit Unions: Part 1

Young & Free

Alberta's Common Wealth Credit Union has created the Young & Free chequing account which offers the following free features for young people aged 17 to 25:

  • Withdrawals from your own or other credit union ATMs
  • Transfers between accounts
  • Point-of-sale transactions
  • Global payment card transactions
  • Cheques
  • Bill payments
  • Internet banking and teleservice

To advertise this service, they have created their own website for it, and are advertising via YouTube and Facebook. Click Read More below to see their two very entertaining and informative videos that explain the difference between banks and credit unions.

Director informs The Record of ABCP Woes

On April 10, Patrick Hunt spoke with The Record regarding the $93,000 of our capital expenditure fund that was invested by Canaccord in asset-backed commercial paper and frozen since last August.

Patrick Hunt, who sits on Beaver Creek's board, said in an interview the fund is used for repairs and upkeep at the 28-year-old housing complex.

Unlike many housing co-ops, Beaver Creek was in good financial shape, he said in an interview.

"In a pinch we could have survived this," Hunt said, but added, "somebody is responsible for this. It wasn't us."

He believes small investors weren't treated with the same respect as large ones.

"Everybody with a lot of clout and money was able to pull out of this, but the little guy couldn't," he said. "Ninety-three thousand dollars is a lot . . . to us."