Small town residents everywhere know the feeling of declining populations, services, and businesses. But what if rural communities could use their investment dollars to bolster their own economies? With a co-operative, they can.
More rural communities are learning how to use the co-operative model to capture local money — including RRSP contributions — to invest in local businesses. Across Canada, Community Investment Co-operatives (CIC) allow people to pool their money and lend it to local business owners.
In Sangudo, Alberta, an investment co-op was used to retain a local meat packing facility that may have otherwise closed with the owner’s retirement. The FarmWorks Investment Co-operative in Wolfville Nova Scotia provides loans for farms, food processors, and value-added food producers.
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