B.C., Ontario central credit unions announce merger

| Business |

The central credit unions of B.C. and Ontario will officially merge on July 1, creating a new Vancouver-based entity with aspirations to become a national financial-sector force. Credit Union Central of B.C. and Credit Union Central of Ontario will join forces to create Central 1 Credit Union — providing banking, treasury and trade services to … Continued

In Trust We Trust

| Business |

Grameen Bank, the brainchild of microfinance guru Mohammed Yunus,
lends money to the poorest people in the world. Its 7.5 million clients
are people who not only have no assets and no jobs, but in many cases
they have never even handled money before. Yunus himself describes
these borrowers as "sub sub sub subprime." The loans are based on
nothing more than trust, yet they are paid back an astonishing 98% of
the time, at rates of interest as high as 20%. This is not a charity.
Grameen is a business with a social goal–to eliminate poverty–and it

Innovative Art Co-op Scores Tax Victory for All Commercial Non-profit Co-ops

Under the leadership of its Co-Chair, Sid Gould, InsideArt Cooperative has been successful in stating its case to the Canada Revenue Agency (CRA) that this non-profit cooperative is not subject to the payment of corporate tax on its net income. InsideArt was counseled by an accountant specialized in co-op taxation that it must file a … Continued

Credit union merger to create powerhouse

| Arts & Entertainment |

It was, at times, a rocky road to the altar. Now the impending union is being cautiously celebrated as the critical first step toward creating a national financial co-operative that could up the ante on big banks. Years in the making and temporarily thwarted by the commercial-paper crisis, the long-awaited merger between Credit Union Central … Continued

Organic growers bringing produce to the people

| Agriculture, Business |

KITCHENER The strawberries are ripe, the tomatoes are plump and the lettuce is crisp. All they need now are buyers. A new co-operative of Waterloo, Perth and Wellington county organic farmers are hoping to gather a critical mass of residents who want to eat locally grown, pesticide and fertilizer-free foods on a weekly basis. For … Continued

Co-ops performing well in suspect economy

| Business |

TRURO – Nova Scotia’s co-op businesses are reporting significant growth at a time when the economy is suspected to be slowing down. Speaking at the 59th annual meeting for the Nova Scotia Co-operative council in Truro, council CEO Dianne Kelderman announced a business growth of 5.6 per cent. This equates to an increase of $80 … Continued

Subprime crisis a failure of values

| Business |

THE WORD "values" has been thrown around a lot in business circles over the past few years. Everyone talks about them. Everyone has them written down. I was beginning to think they were just words in a corporate annual report. But values have meaning, and the recent subprime mortgage crisis has taught us that. Many … Continued

After 40 years, housing co-ops needed more than ever

| Community |

The Co-operative Housing Federation of Canada celebrates its 40th anniversary with the publication of a new history of co-operative housing in Canada. Under Construction: A History of Co-operative Housing in Canada is a success story, built on the principles and perseverance of people who just wouldn’t take no for an answer in their pursuit of … Continued