Oct 17, 2011
GUELPH, ON, Oct. 17, 2011 /CNW/ - As Co-op Week kicks off today, The Co-operators announced a contribution of $150,000 to the Canadian Co-operative Association to support activities related to the International Year of Co-operatives, as 2012 has been proclaimed by the United Nations. The celebrations this week as well as next year, which share the theme of "Co-operative Enterprises Build a Better World," are aimed at raising awareness and understanding of co-operatives.
Co-operatives are values-based organizations owned by their members who use their services. They are democratically controlled by the membership, as they operate on the basis of one member/one vote, and not on the basis of one share/one vote. This ensures that co-ops remain responsive to the people who make up their membership, rather than to investors whose sole interest is to maximize profit. Co-operatives that generate a profit reallocate it to members based on how much they use the organization's services, reinvest it to improve their products and services, and contribute it toward strengthening communities.
As Prime Minister Stephen Harper noted in his Co-op Week message, "co-operatives have helped many people and organizations find solutions to social and economic challenges in their communities." Co-operatives employ approximately 150,000 people throughout Canada, and produce goods and services in virtually every sector of the economy.
"Through their structure, co-ops maintain a strong grassroots connection, and work to contribute something of value to their members and communities," said Kathy Bardswick, president and CEO of The Co-operators. "Co-op Week is an opportunity to spread the word about who we are and how we operate, so that consumer can make informed decisions about which type of company they choose to do business with."
The Co-operators is one of the largest Canadian financial co-operatives, and actively supports the sector both at a local level and internationally. To learn more about co-operatives, please visit www.coopscanada.coop
About The Co-operators:
The Co-operators Group Limited is a Canadian-owned co-operative with more than $41 billion in assets under administration. Through its group of companies it offers home, auto, life, group, travel, commercial and farm insurance, as well as investment products. The Co-operators is well known for its community involvement and its commitment to sustainability. The Co-operators is ranked #1 among the 50 Best Corporate Citizens in Canada by Corporate Knights, and listed among the 50 Best Employers in Canada. For more information visit www.cooperators.ca.
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