The Co-operators $200,000 contribution will help provincial co-operative associations support a vibrant co-op sector in Canada
GUELPH, ON, June 17, 2020 /CNW/ - In support of Canada's co-operative sector, The Co-operators has announced a $200,000 COVID-19 Co-operative Assistance Fund to provide provincial co-operative associations with access to financial support (to a maximum of $20,000). The fund will enable co-op associations to support their members and small co-ops in the wake of the pandemic.
From food production, to retail services, to affordable housing, financial services and more, Canadian co-operatives enrich our communities with collaborative solutions that build collective resilience. Many of these co-ops have been negatively impacted by the complex financial and social challenges posed by COVID-19.
"Like so many Canadian businesses, many co-ops are facing immense challenges in delivering the products and services that bring value to all Canadians," says Paul Hanna, Executive Vice-President, The Co-operators. "Through this $200,000 relief fund, we're lending a helping hand to other co-operatives, upholding a movement that is designed to support the collective resilience of our communities."
"This funding allows co-operatives to reposition their businesses to meet the challenges of operating in a pandemic," says Erin Morgan, Executive Director, Ontario Co-operative Association. "It provides resources that can help them to pivot their business models to better meet the needs of the community."
This announcement is part of The Co-operators broader effort to support Canadian communities during the impacts and recovery of the pandemic and beyond. To date, the Canadian financial services and insurance co-operative has announced contributions totalling over $600,000 in COVID-19 relief which has included:
- $200,000 COVID-19 Co-operative Assistance Fund
- $200,000 for United Way COVID-19 Relief
- $220,000 in support of youth mental health during the pandemic
About The Co-operators:
The Co-operators Group Limited is a Canadian co-operative with more than $47.3 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 as the Corporate Knights' #1 Best 50 Corporate Citizen in Canada and listed among the Best Employers in Canada by Kincentric (formerly AON). For more information, visit www.cooperators.ca.
SOURCE The Co-operators
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