GUELPH, ON, June 12, 2012 /CNW/ - The Saint John Community Loan Fund
received a boost today with the announcement that The Co-operators will
provide $60,000 in funding over three years. The funding is being
provided through The Co-operators Foundation's Community Economic
Development (CED) Fund, which supports programs that help disadvantaged
people gain skills and move toward self-reliance.
The Saint John Community Loan Fund helps people in the area attain
greater self-reliance by providing them with loans, training and
matched savings, and by building creative and affordable spaces. The
grant will be put toward the administration costs of supporting new
projects and programs, expanding the reach of training programs outside
of Saint John, expanding lending to social enterprises, and
contributing to the provincial social enterprise sector.
The Co-operators has been a long-time supporter of the Saint John
Community Loan Fund, having provided a total of $140,000 since 2005.
"The Co-operators support has been critical in leveraging other
investors and donors to the Saint John Community Loan Fund. We have
grown from a single service organization primarily providing micro
loans to one that has added value through training programs such as
financial literacy, business plan development, youth entrepreneurship,
and leadership training," said Seth Asimakos, General Manager of the
Saint John Community Loan Fund. "We could not have done this without
the Co-operators investment of money, as well as the vision of their
staff to create multi-year funding agreements."
"Organizations like the Saint John Community Loan Fund make an enormous
impact on the lives of those they work with directly, and strengthen
communities like Saint John in the process," said Kathy Bardswick,
President and CEO of The Co-operators. "In a truly sustainable, vibrant
community, everyone has a chance to live up to his or her potential.
Saint John Community Loan Fund provides that opportunity to people who
otherwise wouldn't have access to the supports they need. We're proud
to lend our support."
This grant was among more than $200,000 disbursed to 11 community
enterprises and initiatives across the country. To find out more about
all the recipients please visit www.cooperators.ca.
The Community Economic Development (CED) Fund was established in 1995 to
commemorate the 50th anniversary of The Co-operators and has since disbursed more than $3.6
million to 88 organizations. The CED Fund is part of The Co-operators
Foundation, which supports social economy enterprises and other worthy
causes throughout Canada.
About The Co-operators:
The Co-operators Group Limited is a Canadian-owned co-operative with
more than $38 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 listed among the 50 Best Employers
in Canada. As a proud member and supporter of the co-operative sector,
The Co-operators is pleased to celebrate 2012: The International Year
of Co-operatives. For more information visit www.cooperators.ca.
SOURCE The Co-operators
For further information:
Saint John Community Loan Fund