GUELPH, ON, Dec. 29 /CNW/ - The Co-operators Group Ltd. has expanded its membership, welcoming the Federation of Alberta Gas Co-ops Ltd. as the newest member-owner of the Canadian financial services co-operative. On December 10, 2009, the Board of Directors of The Co-operators approved the Federation's application, expanding to 47 the number of Canadian organizations that comprise the group of companies' ownership group.
Formed in 1964, the Federation of Alberta Gas Co-ops Ltd. is North America's largest rural utilities co-operative. It is a non-profit organization that includes 83 members across Alberta, ranging from natural gas co-operatives run by local farmers to villages, towns, counties and First Nations communities. It was initially established to oversee the introduction of natural gas to homes and businesses in farming communities, which remains its core business. The Federation represents and supports some 110,000 consumers in rural Alberta.
"It is with great enthusiasm that we join the membership of The Co-operators, an organization that is well respected within the co-operative sector and the Canadian financial services industry," said Lyle Kuzik, Executive Director of the Federation. "We look forward to building a mutually beneficial relationship based on a foundation of shared co-operative values among the two organizations."
Co-operatives are organizations that are owned and democratically controlled by the members who use its services or products. The Co-operators 47 members are a diverse group that represent all regions of Canada and a variety of sectors: agriculture, financial, service, retail/consumer, health, and labour.
"The Co-operators has strong agricultural and rural roots, having been established by a group of Saskatchewan farmers more than sixty years ago," said Kathy Bardswick, President and CEO of The Co-operators. "The welcome addition of the Federation of Alberta Gas Co-ops Ltd. builds upon our heritage, and introduces a valuable new voice and perspective to our governance table."
About The Co-operators:
Based in Guelph, Ontario, The Co-operators is a group of Canadian companies offering home, auto, life, group, commercial and farm insurance, as well as investment products and property development. With assets of more than $7 billion, The Co-operators is owned by 47 Canadian co-operatives, credit unions and like-minded organizations. It is well known for its philanthropy and community involvement, and is listed in Report on Business among the 50 Best Employers in Canada.
SOURCE The Co-operators
For further information: For further information: Leonard Sharman, The Co-operators, 1-877-795-7272, ext. 2707