Matters that Matter: The Valuable Contribution of Co-ops and Credit Unions

As Co-op Week approaches, it's the perfect time to take a moment to reflect on the substantial numbers and invaluable contributions of co-operatives and credit unions in Alberta. These member-centric organizations are a hallmark of resilience and pivotal players in Alberta's diverse and vibrant economy.

Co-operatives and credit unions across Canada have made significant impacts. Still, for this special occasion, our focus remains on the remarkable achievements and the collective strength of all Alberta's co-operatives and credit unions. While the co-operative spirit knows no borders, it's in our local communities, right here in Alberta, that we see the profound influence of these organizations. This Co-op Week, we celebrate not only ACCA's members' unwavering dedication to their members and the indelible mark they leave on our great province, but also all of Alberta's co-operatives.

Together, these co-operatives embody the spirit of cooperation, resilience, and community involvement that is a source of pride for all Albertans.

The Significance of Co-op Week:

Co-op Week is a celebration of the co-operative spirit that thrives in Alberta. It's a time to recognize the remarkable impact of co-operatives and credit unions in terms of numbers and their intrinsic value to the province. Let's delve into the impressive statistics and the immeasurable worth they bring to Alberta.

Impressive Numbers:

With over 680 co-operative organizations in Alberta, the sheer quantity showcases their prevalence in the province's economic landscape. These co-ops span various sizes and industries, from being the fifth-largest municipal taxpayer in Calgary to nonprofit organizations in Edmonton supporting newcomers to Canada - spanning over seven diverse sectors, including Agriculture, Finance, Housing, and Rural Electrification.

Diverse Economic Contributions:

Co-operatives are a vital policy solution for building a resilient Alberta economy. They play a pivotal role in encouraging investment within the province diversifying the economic base. Notably, these entities have consistently provided cost benefits for their members, returning millions of dollars to them. In 2020 alone, a remarkable $118 million in dividends were distributed to co-op members, offering much-needed relief during inflation and rising living costs.

Member-Centric Approach:

Co-operatives place their members at the heart of their operations. This unwavering commitment to their members ensures that economic conditions do not deter their focus on Albertans. A striking 1.5+ million co-op members in Alberta benefit from this member-centric approach, highlighting these organizations' vast reach and impact.

Resilience and Local Needs:

In times of economic hardship, co-operatives have proven to be more resilient than other business models. They continue to serve their members and communities, providing stability during recessions. The co-operative sector is also dedicated to developing projects that fill local needs, from affordable housing to renewable energy initiatives, further reinforcing their importance in community growth and development.

Celebrating Co-ops and Credit Unions:

Co-op Week is a celebration and a reminder of the immense value that co-operatives and credit unions bring to Alberta - and across Canada. Their numbers, contributions, and member-centric approach make them indispensable components of a resilient and diverse provincial economy. Our members, co-ops, and credit unions play an integral role in shaping Alberta's economic landscape, and we want to acknowledge their incredible contributions to the betterment of Alberta and its people.