Mergers and stakeholders’ engagement for a more resilient co-op sector
To strengthen the stability of the co-op sector, the Co-operative Housing Federation of Canada (CHF Canada) is launching its Co-op Solidarity project. It relies on consolidations, mergers, partnership development and connecting co-ops with the resources they need to expand. The work includes stakeholder engagement, as well as the development of tools such as a merger readiness self-assessment tool and a development readiness self-assessment tool.
This project joined together CHF Canada and the Centre around the goal of increasing sustainability and capacity to grow in the co-op sector. This is achieved by encouraging co-ops to find economies of scale by merging small co-ops together. The project also involves discussions with stakeholders around opportunities for collaboration and partnership, including shared ownership of assets with non-profit housing providers, an innovative approach for the co-op sector.
Although promoting consolidation and mergers has been taken in the past, the group’s intent is to learn from experience and develop a change management strategy to realize new mergers and validate the model. By creating co-ops that are more sustainable and have the capacity to grow, this project will serve up to 500 co-op members in regions where the greatest need is present.