Statement made on 22 October 2009 by Senator Catherine Callbeck
Hon. Catherine S. Callbeck:
Honourable senators, last week marked Co-op Week, which focused on the immense contributions that cooperatives and credit unions make in the lives of the people in their communities.
Co-ops and credit unions help strengthen Canadian communities. They use self-sustaining business models and the money spent by members stays in local communities. Co-ops and credit unions endeavour to be not only economically viable but also environmentally sustainable and socially responsible. They strive to improve the well-being of those in their communities.
For example, there are more than 2,200 housing cooperatives running more than 92,000 housing units in this country. These cooperatives provide homes to more than 250,000 deserving Canadians.
Co-ops exist in a multitude of forms in my home province of Prince Edward Island. There are financial services, grocery co-ops, funeral co-ops and agriculture, fishing and housing co-ops, among others. They all help people and communities to prosper together.
In Atlantic Canada, there are more than 500 co-ops that employ more than 8,000 people. Co-op Atlantic recently earned distinction as an entrepreneurial leader in Progress magazine's Top 101 Companies survey.
More than 9,000 co-ops and credit unions can be found nationwide, employing more than 150,000 Canadians. Millions of Canadians are sharing the advantages of membership in co-ops and credit unions across the country.
Honourable senators, these community-based organizations care about the quality of life and standard of living of the people in the communities they serve, as well as the financial health of their businesses. I commend co-ops and credit unions for their work in supporting Canadian communities, and I wish them continued success in the future.