8 Communities Connected to Learn about Local Capital
On November 30, 2011 ACCA held its 6th Annual Rise & Shine session. The theme for this year’s event was “Accessing Local Capital.”
39 participants from eight locations throughout the province, ranging from Peace River to Vulcan, participated via videoconference networking.
Dan Ohler, a founding director and first Board Chair of the Sangudo Opportunity Development Co-operative told the story of the small hamlet which turned itself around from a dying to community to one in which the community members rallied to make a difference. With the help fo ACCA and substantial funding from the Rural Alberta Development Fund, a group in the community created the Sangudo Opportunity Development Co-operative (SODC). The initial 22 members of the SODC invested $10,000 each into the co-op. Then the SODC bought the local abattoir from its retiring owner. Two young community entrepreneurs have leased the operation from the co-op and have made significant improvements in the operations turning over more revenues, increasing the numbers of employees from two to seven full time equivalents, and providing healthy returns to the co-op’s ownership. Mr. Ohler’s presentation is available to read. SODC PP Part 1 and SODC PP Part 2
Dave Felstad, was a founding director and first Board Chair of the Westlock Terminals New Generation Co-operative. He shared the story of how the elevator in Westlock was targeted for removal by the previous owners and how the community rallied to create a new generation co-operative by raising $1.2 million in shares equity. Under the new ownership, the operation has expanded three times, the quantity of grain that goes through the elevator has increased substantially, and shareholders have been receiving healthy returns. Mr. Felstad’s presentation is available here
Paul Cabaj, Director of Co-operative Development for ACCA, spoke about the work that ACCA is doing to enhance the processes by which community members may invest in local business opportunities. Participant groups discussed the potential opportunities and needs in their respective communities ranging from cultural initiatives to grocery stores. Mr. Cabaj invited participants to contact him to further explore how they may use local investment to revitalize their communities.
This was the second year that ACCA has held the event using videoconferencing which allowed the eight communities to connect simultaneously without the burden of extensive travel. The cost of video conferencing was made possible by the generous support of the events sponsors.
ACCA would like to thank the following sponsors:
Community Connector:
The Co-operators
CAREA
South Alta Rural Electrification Association
Network Supporter
Calgary Co-op
Site Host Sponsorships
Association of Alberta Co-op Seed Cleaning Plants
Federated Co-op
Servus Credit Union
UFA Co-operative Ltd.
North East Gas Co-op
ACCA’s Co-operative Development Program
ACCA’s Co-op Development Program offers a range of co-op development services and resources. The following links will help get you started in the development of your co-op:
- What is a Co-op?
- Legal Requirements to Form a Co-op
- Co-op Web Resources
- Co-op Development Tools
- An Alberta Co-op Case Study: Westlock Terminals (NGC)
Also, our Director of Co-op Development can provide you with technical support and training as well as information on how to access further resources that may be helpful to you. Contact info is provided below.
Our Co-op Development Program is funded through the federal Cooperatives Secretariat program. Their web site has many resources useful to both existing and developing co-ops.
