As its way of supporting provincial business co-operative associations, The Co-operators has established a new $200,000 COVID-19 Co-operative Assistance Fund.
This new fund will allow co-operative associations to access financial support – up to a maximum of $20,000 each – to support their members and small co-ops that have been impacted by the COVID-19 pandemic.
“Like so many Canadian businesses, many co-ops are facing immense challenges in delivering the products and services that bring value to all Canadians,” said The Co-operators executive vice-president Paul Hanna. “Through this $200,000 relief fund, we’re lending a helping hand to other co-operatives, upholding a movement that is designed to support the collective resilience of our communities.”
“This funding allows co-operatives to reposition their businesses to meet the challenges of operating in a pandemic,” added Ontario Co-operative Association executive director Erin Morgan. “It provides resources that can help them to pivot their business models to better meet the needs of the community.”
The Co-operators’ new fund comes after the company announced that it would increase its investment in youth-focused community groups to support those non-profits during the pandemic.