CWCF Contributes $250,000 to National Co-op Investment Fund
At its AGM on November 10th, 2012, CWCF approved a recommendation from its Board of Directors to pledge an investment of $250,000, contributed over a three-year period to the National Co-op Investment Fund, lead by CCA. This includes $175,000 from the $500,000 in CWCF’s Tenacity Works Fund, and $75,000 from an anonymous investor. This pledge is an expression of faith in the NCIF as a sector-driven co-op development Fund supporting the expansion of new and existing co-ops (including worker co-ops, and with some focus on business successions), with leadership by people who understand the co-operative development process. The CWCF sees this fund as a vehicle for all of the co-op sector to share in the success of the co-op movement, through investing in new and existing co-ops. The Fund will get started once the co-op sector has pledged a minimum of $20 million to it, with a preferred goal of $40 million. The CWCF is looking forward to hearing of the commitments other co-op organizations will make to the Fund. Each step takes us closer to making those first investments!
For more information, contact Peter Hough, CWCF Financial Officer, 902-678-0473, or email@example.com.