Business, Tourism, Culture and Rural Development
October 15, 2015
Strengthening the Economy Through Strategic Partnerships
Province Celebrates Co-op Week
During the week of October 11-17, co-operatives and credit unions across Newfoundland and Labrador are celebrating National Co-op Week.
"As a government, we view co-operatives as being integral in community and economic development and our long and positive relationship with the Newfoundland-Labrador Federation of Co-operatives speaks to our government's continued commitment to supporting co-op development. I congratulate co-operative enterprises in celebrating Co-op Week in the province and wish them continued success."
- The Honourable Darin King, Minister of Business, Tourism, Culture and Rural Development
From retail to service to processing, co-operatives play a significant role in the vitality of the province's economy. There are currently over 100 co-operatives and credit union enterprises in Newfoundland and Labrador.
In 2007, the Government of Newfoundland and Labrador signed a five-year Memorandum of Understanding (MOU) with the federation. The MOU was created in order to develop a long-term strategy for the delivery of enhanced support services that help rural communities and regional-based business pursue the co-operative business model. The MOU was renewed in 2012.
The department and the NLFC work together to identify co-operative development opportunities, initiate regional projects, and promote co-operative development alternatives.
"The NLFC is fortunate to have a Memorandum of Understanding with the Department of Business, Tourism, Culture and Rural Development, through which services are delivered that are increasing public awareness of the co-op business model and enhancing the growth and success of the province's co-operative sector. Increased numbers of emerging and existing co-ops have accessed these services in the past year. As a result, more local people are also exploring the benefits of the co-op development option as a mechanism to facilitate the economic and social development of their communities, particularly in rural Newfoundland and Labrador."
- Glen Fitzpatrick, Managing Director, Newfoundland and Labrador Federation of Co-operatives
The co-operative sector provides direct employment for hundreds of people in the province. Co-operatives also offer business support services for many self-employed people, including fishermen and farmers, who provide jobs for others through the operation of their enterprises.
QUICK FACTS
- During the week of October 11-17, co-operatives and credit unions across Newfoundland and Labrador will be celebrating National Co-op Week.
- There are over 100 co-operatives and credit unions, owned by thousands of members across Newfoundland and Labrador that enable businesses and individuals to come together to satisfy market demands and create new opportunities.
- The NLFC plays a leading role in supporting the development of rural communities through the delivery of co-operative programs and services.
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Media contacts:
|
Tansy Mundon
Director of Communications Department of Business, Tourism, Culture and Rural Development 709-729-4570, 693-1865 tansymundon@gov.nl.ca |
Alison Barter
Program/Communications Co-ordinator Newfoundland-Labrador Federation of Co-operatives (NLFC 709-726-9432 abarter@nlfc.nf.ca |
2015 10 15 10:50 a.m.