For Immediate Release

October 30, 2008, Halifax – Putting the power of decision making in the hands of the people who use the service. That is the philosophy behind co-operatives and credit unions – a growing segment of the Atlantic Canadian economy. For the first time, new research is highlighting just how important this sector of the economy is to Atlantic Canada.

A Portrait of Co-operatives and Credit Unions in Atlantic Canada provides a comprehensive directory and mapping of co-operatives in the region. The research summarizes the impact co-operatives have and the important role they play in smaller, rural communities.

“In a time of economic uncertainty and heightened social awareness, it’s important that Atlantic Canadians understand that they can choose to be part of organizations that reflect their values and interests,” said Dr. Leslie Brown, Professor of Sociology at Mount Saint Vincent University. “Our research stresses the need for increased consideration of the co-operative sector by government in social and economic policy development.”

The survey, which was conducted by the Social Economy and Sustainability Research Network as part of multi-year research initiative, reveals that membership in the co-op sector in the region is over the half million mark, while 6,800 Atlantic Canadians are employed in the sector. Typical co-ops have revenues of approximately $437,000 while the average number of years in operation is 33.

“More and more, Atlantic Canadians are discussing the idea of buying local and supporting our communities,” said Luc Theriault, Professor of Sociology at the University of New Brunswick and lead author of the report. “We want to ensure that people understand the opportunities that exist across our region to be part of an economic sector that emphasizes common social, cultural and environmental values.”

The survey data also highlights the scope of the sector in Atlantic Canada with co-operatives focusing on a variety of areas including manufacturing, construction, finance and insurance, housing, recreation, tourism, information technology and health care. Ron Skibbens of Service Nova Scotia and Municipal Relations also co-authored the report.

The Social Economy and Sustainability Research Network is the Atlantic Node of the Canadian Social Economy Research Partnerships – one of six regional research centres across Canada, funded by the Social Sciences and Humanities Research Council of Canada, 2005-2010. The Network has a wide variety of academic, community and government partners representing Nova Scotia, New Brunswick, Prince Edward Island and Newfoundland and Labrador.

For the full survey results, visit http://www.msvu.ca/socialeconomyatlantic/English/SN1E.asp#project1.1

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For more information, contact:
Suzanne Fougere
Mount Public Affairs
Tel: (902) 457-6439
Cell: (902) 441-0505

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