CO-OPERATIVE SPOTLIGHT NEWSLETTER FOR SEPTEMBER 17, 2020
SK'S CO-OP REGISTRAR TO BEGIN REMOVING CO-OPS FROM THE CORPORATE REGISTRY FOR NON-COMPLIANCE AS OF NOV. 30
The Registrar for Saskatchewan’s co-operatives, new generation co-operatives, and non-profit corporations has announced that these businesses must begin to file their annual returns, financial statements and similar documentation once again.
The deadline and penalties were previously suspended as a result of the COVID-19 pandemic.
All co-operatives that are not current in their filings will begin getting letters from the Corporate Registry in mid-September to provide them with information and instructions to become current. In mid-October, final notices will go out to any co-operative that still hasn’t taken the steps to become current. Late fees will begin again as of November 30, 2020.
The Registrar will also be denying requests for extensions and postponements to annual general meeting deadlines due to the pandemic because co-ops are now permitted to hold virtual meetings.
YOU'RE INVITED TO THE CO-OP WEEK FLAG RAISING CEREMONY IN REGINA
Co-op and credit union leaders, members and friends are invited to attend the annual Co-op Week Flag Raising ceremony on Tuesday, October 13th at 11:45am. The event is hosted by SCA.
The ceremony will be held outside the Legislative Building, at the flag pole area. COVID-19 protocols are in place and masks are required.
The invitation is available from our website at this LINK for downloading or sharing. Please join us in Regina and help launch Co-op Week 2020!!
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ABOUT CO-OP WEEK 2020. Co-op Week takes place October 11-17, 2020. This year's Co-op Week Theme is: The Co-op Effect: Count Me In! Co-op Week logos and materials that you can use to promote it will be available soon.
This year International Credit Union Day is October 15th, which falls within Canada's Co-operatives Week. The ICU Day theme is: Inspiring Hope for a Global Community.Let us know what you're doing for Co-op Week and Credit Union Day and we'll help amplify your message through our channels!
You are welcome to join us for a free Co-op Week webinar on Wednesday, October 14th at 12noon (Saskatchewan time).
Wayne Schatz, Vice President and General Counsel, Operations and Distribution, The Co-operators Group Limited, speaks on "Co-operative Identity: Why Should I Care?". This presentation will explore co-operative identity and how co-operative business enterprise is more relevant than ever in today's world. We'll be challenged to question the assumptions we may make each day and we'll learn about the invisible, yet powerful forces at work in every co-operative which weaken co-operative identity.
Lastly, insights will be offered to counter these forces and help position co-operatives to be agents of change and catalysts for a shift in thinking that recognizes that business and the economy operate within the finite boundaries of the planet and exist to serve human needs, not the other way around.
The full session description is HERE. Please share widely.
The webinar is 1.5 hours long and includes time for questions. RSVP by October 9th to victoria.morris@sask.coop. You'll be sent a Zoom meeting link.
Play solo or with a team and YOU DON'T NEED TO BE FROM SASKATCHEWAN.
The Scavenger Hunt and its prizes are available to co-op and credit union staff and members, and sector supporters and friends all across the world. (After all, it's 2020 - we're thinking well outside the box this year!!)
Play from anywhere using the GooseChase App, a smartphone and an internet connection (If you want to play offline, email Victoria for the missions, then tag us and post your responses on social media or email your responses to SCA within the game timeframe)
The scavenger hunt is designed with safety during the pandemic in mind
The game goes live at 12PM Saskatchewan time on October 11, and is be playable until Oct. 17, 4PM SK time
The scavenger hunt is not based on Saskatchewan-specific clues and can be played from almost anywhere
Full rules and how to play instructions are posted on our website at this LINK
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WE'D APPRECIATE YOUR HELP. SCA will be providing a number of prizes for the Co-op Week Scavenger Hunt. If your organization would like to donate a prize, please email Victoria at victoria.morris@sask.coop
SHARE THE #LOCALCOOPLOVE WITH OTHERS
The scavenger hunt is a fun, low-stress (and safe) way to involve your municipal, provincial and federal elected officials in your co-op. (Mix a little business in with the pleasure!)
Include your employees and members, too! Propose this as a team-building exercise for your staff or as a fun way to engage your membership of any age.
Not sure how to proceed? Call 306-343-3582 or email victoria.morris@sask.coop and we can help set this up
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TELL US YOUR CO-OP WEEK NEWS. The pandemic has made this an unusual year for many co-ops and we'd be pleased to help promote your member and community events. Email details to sca@sask.coop
MEC WILL NO LONGER BE A CO-OPERATIVE
Mountain Equipment Co-op (MEC) announced on September 15th that its board of directors unanimously approved a deal in which Los Angeles-based private investment firm Kingswood Capital Management will acquire its assets - including the majority of its retail stores - through the Companies' Creditors Arrangement Act (legislation that allows financially troubled companies to restructure).
The move has shocked members and former staff of the country’s largest consumer co-operative.
CMC and BCCA issued a joint statement on September 15th, saying in part:
"On this International Day of Democracy, Co-operatives and Mutuals Canada (CMC) and the British Columbia Co-op Association (BCCA) are disappointed by the developments surrounding Mountain Equipment Co-op, which has long been Canada's largest consumer co-operative and a valued member of CMC.
"Both CMC and BCCA call on the Governments of Canada and British Columbia to confirm that provincial and federal legislation has been fully respected allowing the sale of this iconic Canadian co-op retailer to a foreign entity, and that the best interests of MEC members, employees, and the communities they serve are being given full consideration. CMC and BCCA will continue to monitor the sale and consider appropriate interventions."
Last year, the embattled retailer lost $11.487m on sales of $462m. The effects of the pandemic only magnified the crisis within the co-operative.
The transaction remains subject to regulatory approvals and is expected to close in the fourth quarter of 2020. Upon completion, the MEC retail business will be under private ownership. MEC was founded in Vancouver in 1971, and currently has more than five million members and 22 stores across Canada.
Learn good governance in six weeks or less! A free open online course, developed in partnership by Co-operatives First and the Canadian Centre for the Study of Co-operatives, is now accepting enrolment.
You'll explore the principles and practices of good governance in co-operatives, ranging from the written to unwritten rules that shape how individuals work together in an organization.
This course is designed to introduce a theory of governance and guide you to contemplate three ideas pertaining to good governance: ensuring people work well together, creating a successful view for the future, and building legitimacy.
This course is open to everyone and you can work through the sessions at your own pace. To learn more about the course and/or to enrol, click HERE.
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Saskatchewan Co-operative Association (SCA) is the apex organization for the province’s 900 co-operatives and credit unions. SCA is incorporated as a community service co-operative and is owned by its members, many of which are co-op federations or associations.
On behalf of the Saskatchewan co-operative community, SCA works to support and promote the co-operative model for community and economic development.
Learn good governance in six weeks or less! A free open online course, developed in partnership by Co-operatives First and the Canadian Centre for the Study of Co-operatives, is now accepting enrolment.
