The Co-op Current
The latest news and information for and about Ontario's co-operatives!
Issue 9: October 28, 2021
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OCA will be reaching out to organizations across the province to contribute a reflection piece to our monthly newsletter. We are pleased to share our first contribution by Clayton Shold, Executive Director of the Ontario Credit Union Foundation (OCUF)...
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A Decade of Change – The OCUF Story
(Submitted by Clayton Shold, OCUF)
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Anyone connected to the co-operative sector in Ontario knows the past decade has been one of much change. The number of co-ops and credit unions has changed. Legislation and regulatory oversight have created new challenges. Technology continues to evolve at a blistering pace.
Change is driven by responsiveness to existing, or future unrealized customer needs.
A decade ago, we were known as Ontario Credit Union Charitable Foundation (OCUCF). Our CRA purpose read: “The Foundation provides funding to agencies delivering support services such as housing and food for the poor, children’s hospitals and health agencies, research organizations, scholarships, and bursaries for deserving students, family support and seniors’ services. The Foundation also provides funding to the co-operative development foundation in Ottawa to assist cooperative development worldwide, and the Red Cross for relief efforts worldwide.” There wasn’t too much we weren’t attempting to do. Our primary “service” was our matching program where credit unions would apply to the foundation to have their fundraising activities matched for their charitable works.
The Board, through their strategic planning efforts, realized the Foundation had to adapt to a changing world. Requests for matching funds were declining, the organization was not focused, either on purpose or geography. The establishment of memorial funds was less in vogue. Frankly, our relevance was dwindling. We simply could not continue to be all things to all people.
In 2015, we embarked on a fact-finding exercise to better understand how the OCUF could support our Ontario Credit Union partners. In speaking to over 70% of our stakeholders, they overwhelmingly told us to focus on supporting Credit Union’s in delivering support and services that were relevant to a younger demographic. Senior credit union leadership also expressed a desire to partner with the Foundation to build credit union awareness.
The Board made some key decisions. The first was to change our mission to focus on supporting youth education and leadership. In addition, we also changed the name of the Foundation to remove “charitable”, as it was redundant being a registered foundation (which is permitted to carry on a charitable purpose). Lastly, we limited our geographic footprint to Ontario.
What didn’t change was the Foundation supporting credit union philanthropic activities and administration of donor-advised and permanent capital funds. This service is also available to co-operatives in Ontario! The two Bernie Daly funds established by GROWMARK, Inc. are examples.
The CU Succeed Youth Bursary (CUSYB) program (pronounced see you succeed) was launched in 2016. It assists deserving students who actively give back to their communities by providing bursaries for post-secondary students for academic, technological, or vocational learning. Since its inception, the CUSYB program has provided $436,000 to 327 students. Our member credit unions increasingly are supporting and promoting the bursary.
In 2020 we clarified our value proposition: “Providing member Credit Unions an effective, professionally branded youth bursary program that helps increase awareness, attracts youth members and their families while reinforcing local community engagement, impact and contribution.”
So how are we doing? The denominator keeps changing with the number of member credit unions due to mergers and acquisitions, that said 79% of the credit unions in Ontario are members. In the past two years, we have welcomed five new credit unions. We continue to work at increasing that percentage. Feedback has told us our brand is well recognized in the Ontario credit union space. By all measures, the CUSYB program has been well received.
Are we there yet? Our work continues. In November the Board at their planning session will be looking at our progress against our value proposition, how our efforts can help increase awareness of credit unions to attract younger customers, and the creation of a new program we hope to launch in early 2022.
No one needs to be told the world continues to change. OCUF, like credit unions and co-operatives, must remain responsive to our member's needs. It drives our compass.
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Get the latest information and updates on our strategic areas and check out our member profiles...
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Welcome Our New Board of Directors
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Please join us in welcoming our new leadership, elected at the Annual General Meeting on September 21…
From top left:
From bottom left:
We look forward to working with the Board over the coming year! |
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Building Co-op Awareness Among Youth Takes a Community
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Are you interested in supporting youth education initiatives in your community?
Would your co-operative or credit union benefit from increased brand recognition in your community?
Are you passionate about building relationships within your community?
Co-operative Minds is a project-based learning program that fills these needs by connecting educators and community partners, and providing them with the tools necessary to educate and inspire our next generation of co-operative leaders.
This is where your co-op comes in!
We are seeking "challenge partners" to bring co-operative learning to classrooms across Ontario, while helping students become driven, empathetic and engaged citizens. There is a wealth of amazing opportunities for co-operatives across all business sectors to provide dynamic and meaningful learning opportunities for young people. By providing students with a real-world challenge to solve, your co-operative or credit union will benefit in numerous ways, while also facilitating valuable learning and experience in financial literacy, marketing, sustainability, social responsibility and business structures for youth.
Visit our website at cooperativeminds.ca to learn more about this unique opportunity!
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Announcing Co-operative Young Leaders 2022!
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Plans for CYL 2022 are already underway and we cannot wait to welcome all of our participants in person. With two options to choose from next year - March break and summer camp - there will be plenty of opportunities for youth and co-operatives to participate!
We are often asked why youth would want to attend CYL. The short answer is that it's
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fun and inspiring, it provides a great opportunity for youth to connect from across the province, and will “change their life”...
Spread over five days in the summer, participants spend time developing their communication, teamwork and leadership skills through a variety of interactive games and activities. Grounded in the 7 Co-operative Principles, CYL is a safe and non-judgmental environment where everyone is welcome and valued; some of our most insightful and best times are spent around a campfire sharing stories and getting to know one another!
There are three levels: Explorers (ages 13 - 14), Trailblazers (ages 15 - 16), and Visionaries (ages 17 - 18). As youth progress through them, they will begin to take more responsibility for leading the camp and putting their stamp on the week. Check out our programs and dates below…
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March Break Camp:
Dates: March 13 to March 18, 2022
Location: Albion Hills Conservation
Who should attend: Explorers (13 - 14)
Registration: CLICK HERE
Summer Camp:
Visionaries – July 9 to July 15, 2022
Trailblazers – July 17 to July 22, 2022
Explorers – July 24 to July 29, 2022
Explorers – July 31 to August 5, 2022
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Who should attend: Explorers (13 - 14), Trailblazers (15 - 16) and Visionaries (17 - 18)
Location: Gay Lea Foods' Co-operative Education Centre, Aylme ON
Registration: Opens November 15, 2021.
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CYL Art Piece Unveiled...
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Each year, CYL creates a piece of art that pays tribute to one of our Co-operative Principles. We are very excited to share with you our latest CYL artwork piece, in recognition of our fifth Co-operative Principle, Education, Training and Information. Youth participated virtually and provided feedback on the design, creative and what they believe was the most important way we demonstrate this
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this principle. A mobile was produced that reflects the pandemic, but also demonstrates how we can make changes though education. The more we know and are open to learning, the greater impact we will have on the environment, co-operation and understanding of how the co-operative sector serves the greater good. We also wanted to pay tribute and say “thank-you” to our frontline responders. They have been the backbone of our health care system and saved countless lives over the last couple of years.
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Approaching the Future Strategically
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In times of rapid change, planning for the future can feel overwhelming. And yet being innovative and future-ready has never been more important than in today's disruptive times.
Increasingly organizations are responding to this challenge by using foresight, a practice that leverages tools and frameworks to assess what the future might hold. The foresight process generates insights to inform the design of more strategic and resilient innovations.
OCA has been practicing foresight as part of their strategic planning process. Join
Join us on Tuesday, November 2 at noon to learn more about foresight, and hear about the OCA's foresight journey and outcomes, in this presentation by foresight process designer and facilitator Rebecca Black. Registration is FREE but required to get the Zoom co-ordinates.
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New Partnership to Increase Access to Medication
Across Ontario
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In response to a growing need for affordable prescription drug access in the province, we are collaborating with the Nova Scotia Co-operative Council to bring their successful Co-Pharm to Ontario with the help of our members!
Co-Pharm is a community based, low-cost approach to prescription medications for those who have no or little medical benefit coverage. Cash payers (those without other forms of coverage) pay significantly more for prescriptions than those with insurance. An estimated 30% of those living in Ontario do not have adequate health insurance coverage to pay for prescription medications. This group includes small business owners and their employees, co-op and credit union members, under-employed, part-time workers, self-employed, and individuals living in poverty. Many have to choose between buying medications and other essentials.
The Co-Pharm program offers savings on ALL medications with a reduced dispensing fee and preferred markups. Our partnership with The Health Depot, a full-service digital pharmacy based in London, ON makes ordering and delivery anywhere across the province accessible and affordable. Additional access to savings on other pharmacy and home health care products are also available.
We have started to onboard co-operative and credit union delivery partners who are helping us promote and distribute Co-Pharm memberships to Ontarians, and feedback has been overwhelmingly positive. For more information about the program, please visit our website. If this is something you're interested in for your membership, staff or other affiliates of your co-operative or credit union, contact us to learn more about becoming a delivery partner today.
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How Co-ops are Building a Better Ontario
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If you missed Peter Cameron talking about how our sector is contributing to building – and rebuilding – a better, more equitable and stronger Ontario as part of the Bridges to Better Business series hosted by the Business Centre Guelph Wellington on October 19, you can still view the recording! Catch it here...
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New Board member Wendy Carruthers, representing The Co-operators, tells us a bit about herself in this edition…
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Tell us a bit about yourself (i.e., your background (where you grew up, education, children, which co-operative you work for, your position, etc.)
I am a co-operative management professional with 23 years in roles of increasing responsibility at The Co-operators, a leading Canadian insurance and financial services co-operative. I completed my Masters of Management of Co-operatives and Credit Unions at
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Saint Mary’s in 2009. This program not only taught me about co-operatives and the vital role they play in global development, it supported the development of managerial skills that ensure co-operative identity is at the core of my work.
In 2019 I became the Associate Vice-President of Member & Key Client Relations, East with responsibility for promoting and supporting member relations, co-operative business development, liaising with national and provincial co-operative associations, and promoting co-operative identity with staff and externally. I have held a number of roles in departments across the organization including Sustainability and Citizenship, Strategic Planning, Underwriting and as a licensed broker in the Contact Centre.
I completed my undergraduate in Comparative Development Studies and Cultural Studies at Trent University. I spent my third year in Ecuador where I became fluent in Spanish, and where I met her husband. My husband and I live with our two children in Guelph, Ontario.
How long have you been involved in the co-operative movement, and what do you love most about it?
I have been part of the co-op sector since I began working at The Co-operators in 1998 but I wasn’t aware of our co-operative nature until I heard a talk on our governance and unique identity during an internal leadership program. From there I jumped at the opportunity to volunteer to facilitate at CYL and my co-op journey was born. I leveraged my interest in our co-op identity to gather support from the organization to pursue my masters and have found that there is always more to learn and more to share about what co-operatives are and what they can do. That’s my favourite part – the community of learning, of growth and of connecting via our shared values.
If there is one thing you would want people to know about co-ops, what would it be?
That they are a viable business model where you can marry your values with economic growth and development.
Why is your co-operative a member of OCA?
The Co-operators is a member of every provincial co-operative association as we have a mandate to be a leader in the Canadian co-operative movement. Participation via dues and sponsorships, via providing people to sit on boards and committees and through the sharing of knowledge and in-kind services.
What do you think are some of the benefits of being a member of OCA?
- A stronger and growing co-operative and non-profit sector in Ontario
- Enhanced reputation within the co-operative community and beyond
- Increased awareness of the co-operative model
- Enhanced business relationships with current and new co-operatives
- Embedment of our co-operative identity within the organization through participation on boards and/or related activities
- Strengthening of our relationship with the co-operative community
- Having a voice in issues that impact the co-operative sector
Why did you decide to join the OCA board as a Director?
I have been looking for a board opportunity where my specific skillset and experience would be valuable, and where I have the opportunity to contribute to the successful governance of a significant co-operative organization. OCA has the benefit for me of being local to where I live and work and representing the co-operatives in my province.
How has your past experience helped you in this role?
My education in co-operative management, my work experience at a large Canadian financial and insurance services organization which includes significant management support for organizational governance and co-operative education and my personal passion for the co-operative economy combine to make me prepared to be a strong contributor to this board.
What do you think are some of the opportunities and challenges facing OCA in the next 3 - 5 years?
Ongoing relevance to our membership and to our potential future members, co-operative education and awareness that leverages the current cultural shift for local, values-driven businesses and ongoing advocacy for the co-operative business model at all relevant levels of government.
What is your vision for OCA?
I’d like to spend time increasing my understanding of current areas of focus, of success and challenge before developing a personal vision for the organization.
Share a fun/silly thing that not many people know about you!
This is a tough question – it makes me realize I’m not really that fun! I guess I’d say I’m a voracious reader and I prefer novels (lots of different kinds) to any other kind of book (never give me a self-help or business book). I am convinced that reading so much makes me quite good a trivia games!
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Stay current on the latest news and information on co-operatives in Ontario...
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CO-OP CORNER
Explore upcoming events and current jobs in the co-operative sector, as well as co-op research and consultations, readworthy articles and videos...
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November 3, 2021. Fair Financing for Northern Food and Farm Entrepreneurs, hosted by the Fair Finance Fund. This webinar will explain how to access fair financing to grow your food and farm business in Northern ON. LEARN MORE.
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November 16 – 18, 2021. Worker Co-operatives Building Better Together Conference, hosted by the Canadian Worker Co-operative Federation (CWCF). Worker co-operatives have demonstrated resilience and solidarity throughout the Covid19 pandemic, although many have faced significant challenges. We will share strategies of worker co-ops in dealing with crises such as the pandemic. Further, this theme will cover how communities would benefit from building more worker co-operatives, including through the lens of racial and economic justice. LEARN MORE.
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November 25 – 27, 2021. The Board’s Role in Societal Transformation, hosted by the Directors’ Forum Co-operative. Credit unions, co-operatives and mutuals believe that the role of the organization is to serve our members and communities. This purpose means our boards should also be considering our role in society and how we can work to improve society as organizations. This year we will consider - on the heels of the pandemic - what the role of the board in this process. LEARN MORE.
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Proud Sponsor of the Co-op Current!
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