*GUEST POST* We asked Karen McBride MBA, ORMP to share some of her insights about enterprise risk management for co-operatives and credit unions.
If you think about it, co-operatives were created to reduce the risk that individuals would not survive lean times and harsh conditions. By working together, people discovered creative ways to pool their time, money, and talent to not only help each other survive, but eventually thrive to build communities, social systems, and nations. This powerful process continues to this day – the transformational power of co-operatives is especially evident in developing countries.
Once launched, credit unions and co-ops quickly got busy managing the risks that could damage their bottom line or threaten their survival – risks such as theft, fraud, credit losses, and damage from fire or natural disaster. Up until about twenty years ago, risks such as these were largely regarded as individual events.
Have you ever gone somewhere and had a whole new language thrown at you? I don’t mean that grade 12 trip to Europe, where they ACTUALLY speak a different language, I mean somewhere where the lingo is just all new? When I first got to Co-op Camp, I had absolutely no idea what a Warm Fuzzy was, or exactly why people wanted to be “cannibals”. Our second batch of letters covers the new words you may hear at Co-op Camp from J-Q. Some of these are essential to having a great summer at Co-op Camp!
There are so many interesting types of co-operatives in Saskatchewan. Of course, I love ALL co-operatives and credit unions. But there are some pretty unique co-operatives here. Since we’re all not traveling too far this year, this blog post will take you on an armchair tour of just some of these co-ops around the province that you may not have heard of before, as well as a few examples of industries that have a lot of co-operatives here.
*GUEST POST* By Kenzie Love, CWCF Communications and Executive Assistant
As Saskatchewan, like other provinces, confronts the challenges posed by the impending surge of retiring baby boomers, it seems natural to look to the employee succession solution. Ideally, employees taking over a business would provide jobs for those who would otherwise lose them if it shut down, income for a retiree counting on selling the business to finance their retirement, and the continuation of a store or service that would be sorely missed, particularly in a small town. But despite these apparent advantages, employee succession remains relatively uncommon, not just in Saskatchewan but throughout Canada.
Usually around this time of the year, I am sitting in a cabin, or chatting with my colour group about what they are looking forward to doing the next day, or I am laying on the beach, watching young people splash in the waves, or I am teaching a group of campers about one aspect of our co-operative principles and how they make business better. However, this year, I’m not out at our typical Co-op Camp. I’m nowhere near either Candle Lake or Last Mountain Lake. I am sitting in my office. Staring at a computer screen. It’s not the summer I could have imagined in a hundred years.
Part one: The first 9 letters that make up the song 😊
Have you ever gone somewhere and had a whole new language thrown at you? I don’t mean that grade 12 trip to Europe, where they ACTUALLY speak a different language, I mean somewhere where the lingo is just all new? When I first got to Co-op Camp, I had absolutely no idea what a Warm Fuzzy was, or exactly why people wanted to be “cannibals”. Our first block of letters covers the new words you may hear at Co-op Camp from A-I. Some of these are essential to having a great summer at Co-op Camp!
Image courtesy of @NBC_AtoZ
In my last blog post, we looked at what the main financial statement documents are and what they mean. Now that you understand what each of the financial statements are for, this blog post looks more closely at some of the items you can expect to see on the financials, and how this information can help you assess your co-operative’s financial health.
Image by: Fablproductions
Okay, so I know that this is a reaaaalllly strange thing to say to a bunch of teenagers, but there is a valid life lesson here.
Really. Do it. Try it!
Wait… ok, what about the things that are bad for you… Well, maybe don’t try things that are illegal, or immoral, or plain stupid… Tide Pod Challenge, anyone???
What I mean by Try Everything, is give life a chance. Try things that scare you. Try things that are out of your comfort zone. When was the last time you tried something new? Show of hands… What was it? Were you successful??? How did it make you feel to try it?
Financial statements can help board members and managers understand your co-operative’s spending, your financial position, as well as helping boards provide oversight on the spending and financial performance of the organization. This blog post is intended to help directors that aren’t financial experts gain some introductory understanding of the main financial statements co-operatives use and to gain a few ideas of what kinds of information to look for on these statements.
If you follow Co-op Camp on Instagram or Facebook, (@coopcamprocks and Saskatchewan Co-operative Youth Program, respectively), we do a weekly introduction of a Co-op Camp Staffer. These people are the amazing volunteers who help us run the Camp program summer after summer. This year we are not doing camp in our traditional form, but there will be some new and interactive events and activities. This is because of the hard work of these two Co-op Camp Alumni, Sean den Hollander and Nicole Rowlett, the 2020 Program Assistants. I asked them to give us some info and let us get to know them a little bit. Here is our Meet the Team Monday - Blog Edition!
SCA's Summer Administrative Assistant, Effie Kosmas, volunteers with the Student Wellness Initiative Toward Community Health (SWITCH).... we asked her to share some information about what SWITCH is and the partnership between SWITCH and the Saskatoon Community Clinic.
So you want to learn about co-operatives. What are the options? Where to start?
From introductory level co-op basics, to Masters’ degree programs, read on to learn about some Canadian (and a few international) opportunities for co-operative focused learning opportunities. There are two main approaches to learning – academic and non-academic learning. This blog post will give you some ideas about both types of learning. There is also self-guided learning, and event or course-based learning. I’ll share some examples of all these types of learning opportunities. There are lots of options out there, this blog post will offer a few ideas in each category.
This is a crazy world. From Tiger Kings, to Covid-19 scares, to unstable economics, the world is a crazy and sometimes scary place. It can feel like once you get a handle on the situation, something comes along and changes your world entirely. Even when there aren’t huge looming critical events, even simply growing up and moving from one stage of life to the next, change is the inevitable. “Change is the only constant in the world.” We hear this every dang day it seems.
I heard something that, in the midst of all of the 2020 commotion that is happening all around us right now, calmed my anxiety about our world situation and made me take a breath. Camp will be there for us when this is all over. This person didn’t mean just the physical location, or the curriculum. They meant Co-op Camp.
There are lots of videos out there that can help people learn about co-operatives. In this blog post, we’ll look at four types of videos that can help explain what co-operatives are, how they are different from other forms of business, what the co-operative principles are and what they mean, as well as a history of a couple of co-ops.