New Research on Co-op Economic Impacts in Canada
Recent research on the economic impact of the co-operative sector in Canada shows that its activity contributes over $50 Billion dollars to the Canadian economy and supports over 600,000 jobs.
Researchers George Karaphillis, Alicia Lake, and Fiona Duguid from the Measuring the Co-operative Difference Research Network (MCDRN) conducted economic impact analyses on the co-operative sector for the years 2009 and 2010. The results showed that co-operatives, credit unions, and co-operative insurance enterprises had a direct economic impact (GDP) of $22 Billion in 2010 – and, through indirect and induced spin-offs, this impact multiplies to over $54 Billion. This represented 3.4% of the total economic activity in Canada in 2010.
Further, nearly 270,000 full-time jobs were created in the sector and through spin-off effects, this activity supported over 614,000 jobs in many sectors throughout the country. Co-operatives between 2009 and 2010 also created jobs at nearly five times the rate of the broader economy. Read more
New co-operative law in Chile is ready to be enacted
Last month the Chilean senate approved a new co-operative law designed to modernise the sector. The co-operative movement includes 1,300 enterprises with 1.8 members.
Once enacted by the country’s president, the law will bring a number of legislative changes for co-operatives. Among these is a requirement for co-operative boards of directors to be proportionally representative of their wider membership to ensure a better gender balance on boards. Co-operatives will have three years to incorporate this in their by-laws.
The law is also lowering the number of members required to set up a co-operative from ten to five. Another change is a requirement for co-operatives to have assets worth 18% of their annual net profit, in order to strengthen them financially.
Co-operatives with 20 or less members will be able to appoint an administrative director and a qualified accountant and will not need to have an administrative council or a board of oversight.
Uruguay will host the 4th Co-operative Summit of the Americas
Uruguay will be the host country of the 4th Co-operative Summit of the Americas. The event will take place in December 2016 and will bring together around 800 co-operators from more than 50 countries in the Americas region. The summit is regarded as an event of national importance by the Uruguayan government who will support the event.
"Uruguay is working for the social economy to have a place with no roof," remarked Bernini Gustavo Bernini, president of the National Co-operative Institute of Uruguay. President of CUDECOOP, the Uruguayan Confederation of Co-operatives, Graciela Fernández, added: “This is not accidental. It is a response to the movement’s long history, which goes back 100 years”. Read more
National Police Co-operative of Ecuador becomes the first co-operative to receive the Green Office Co-operative certification
The National Police Cooperative (CPN) has become the first co-operative to receive the Green Office certification certification for its premises in Quito, Ecuador. The certification shows that an enterprise is fully committed to environmental, social and economic sustainability, said Manuel Mariño, Regional Director of Cooperatives of the Americas.
Jesus Villalobos from CONACOOP (Costa Rica) who is a member of the Certification Committee added that the Green Office's Cooperative advantage is that it is a concise, concrete and transparent but also rigorous process, and that it was an important certification that co-operative enterprises should seek to obtain.
Almost one million and a half people are members of a consumer co-operative in Argentina
The Argentinian consumer co-operative movement has grown to include one and a half million members. The figures were confirmed by a research study conducted by the co-operative department of the National University of South (Universidad Nacional del Sur) with support from the Argentinian Consumer Co-operative Federation (FACC).
In February 2015 Argentinian consumer co-operatives has 1,443,185 members and were present in 101 locations with 170 distribution centres. Together they accounted for 4.07% of the total market share. The report shows that consumer co-operatives successfully compete with supermarket chains in cities with more than 25,000 people while also meeting the needs of people in smaller communities. Read more
Four co-operatives named among the best enterprises of Colombia
Four co-operative enterprises, Coosalud EPS, Aseguradora Solidaria, Financial Comultrasan and Copservir, have been included in a list of the best companies in Columbia. Coosalud EPS occupied the first position, with Aseguradora Solidaria coming second. Also included in the list were Financial Comultrasan (13th) and Copservir (14th). The top 15 looked at companies with more than 500 employees whose work culture is based on trust, and where employees believe in their leaders and are proud of what they do. Read more
The co-operative movement contributes 4% to Panama’s GDP
In Panama 124 people of every 1,000 are members of co-operatives, according to the president of the National Assembly, Rubén De León Sánchez. Mr Sánchez was a keynote speaker at the Latin-American Conference on Co-operative Governance, which took place on 4 December in Panama. In his speech, he referred to the latest stats published by the Ministry of Finance and Economy, which showed that co-operatives contributed 4% to the country’s economy. The sector also involved 12% of the country’s economically active population. Read more
Photo: Uruguay announced as the country that will host the next Co-operative Summit of the Americas
