GUELPH, Ontario--Over a six-month period spanning from August 2014 to February 2015, the Ontario Co-operative Association will be conducting extensive research on the social, economic and environmental impact of co-operatives and credit unions within the city of Guelph.
“A community report of this magnitude has never before been produced, and will be beneficial to us when speaking with government officials on the significant impact that co-operative businesses have in the region. We will also be able to establish a template for other regions to adopt when compiling their own localized statistics,” said Peter Cameron, On Co-op’s Development Manager, who is co-ordinating the study.
On Co-op, the province’s co-op trade association and capacity-building organization, said it will release preliminary data related to the impact study at an open house event on Oct. 15th, as part of its ongoing Co-op Week Celebrations. Guelph is home to 58 co-operatives, credit unions, and Co-operators insurance agency offices. These organizations employ over 1,500 full-time workers and have close to 7,500 members.
Moreover, financial co-ops (which include credit unions and insurance co-ops) represent approximately 65% of all jobs related to the co-op sector locally. More than 1,100 residents live in co-operative housing, including more than 550 adult members, 400 children and 165 students.
The study-in-progress entitled “Why Co-ops Work: A Socio-Economic Impact Study of the Guelph Co-op Sector” also reveals that a diverse range of business sectors are represented by Guelph’s co-operatives. In addition to finance, housing and information technology, there are agriculture, childcare, energy, retail, transportation, co-op development services and student enterprises.