Anyone connected to the cooperative sector in Ontario knows the past decade has been one of much change. The number of co-ops and credit unions has changed. Legislation and regulatory oversight have created new challenges. Technology continues to evolve at a blistering pace.

Change is driven by responsiveness to existing, or future unrealized customer needs.

A decade ago, we were known as Ontario Credit Union Charitable Foundation (OCUCF). Our CRA purpose read: “The Foundation provides funding to agencies delivering support services such as housing and food for the poor, children’s hospitals and health agencies, research organizations, scholarships, and bursaries for deserving students, family support and seniors’ services. The Foundation also provides funding to the co-operative development foundation in Ottawa to assist cooperative development worldwide, and the Red Cross for relief efforts worldwide.” There wasn’t too much we weren’t attempting to do. Our primary “service” was our matching program where credit unions would apply to the foundation to have their fundraising activities matched for their charitable works.

The Board, through their strategic planning efforts, realized the Foundation had to adapt to a changing world. Requests for matching funds were declining, the organization was not focused, either on purpose or geography. The establishment of memorial funds was less in vogue. Frankly, our relevance was dwindling. We simply could not continue to be all things to all people.

In 2015, we embarked on a fact-finding exercise to better understand how the OCUF could support our Ontario Credit Union partners. In speaking to over 70% of our stakeholders, they overwhelmingly told us to focus on supporting Credit Union’s in delivering support and services that were relevant to a younger demographic. Senior credit union leadership also expressed a desire to partner with the Foundation to build Credit Union awareness.

The Board made some key decisions. The first was to change our mission to focus on supporting youth education and leadership. In addition, we also change the name of the Foundation to remove “charitable” as it was redundant being a registered foundation (which is permitted to carry on a charitable purpose). Lastly, we limited our geographic footprint to Ontario.

What didn’t change was the Foundation supporting credit union philanthropic activities and administration of donor-advised and permanent capital funds. This service is available to co-operatives in Ontario! The two Bernie Daly funds established by GROWMARK are examples.

The CU Succeed Youth Bursary (CUSYB) program (pronounced see you succeed) was launched in 2016. It assists deserving students who actively give back to their communities by providing bursaries for post-secondary students for academic, technological, or vocational learning. Since its inception, the CUSYB program has provided $436,000 to 327 students. Our member credit unions increasingly are supporting and promoting the bursary.

In 2020 we clarified our value proposition: “Providing member Credit Unions an effective, professionally branded youth bursary program that helps increase awareness, attracts youth members and their families while reinforcing local community engagement, impact and contribution.”

So how are we doing? The denominator keeps changing with the number of member credit unions due to mergers and acquisitions, that said 79% of the credit unions in Ontario are members. In the past two years, we have welcomed five new credit unions. We continue to work at increasing that percentage. Feedback has told us our brand is well recognized in the Ontario credit union space. By all measures, the CUSYB program has been well received.

Are we there yet? Our work continues. In November the Board at their planning session will be looking at our progress against our value proposition, how our efforts can help increase awareness of credit unions to attract younger customers, and the creation of a new program we hope to launch in early 2022.

No one needs to be told the world continues to change. OCUF like credit unions and co-operatives must remain responsive to our member’s needs. It drives our compass.

[This article was initially written for the Ontario Cooperative Association blog.]

Our hearts go out to all those impacted by the extreme weather and resulting flooding in British Columbia. We understand there has been one confirmed death with that number potentially rising as rescue efforts continue.

With major highways washed out, the impact will be felt well beyond the interior of B.C. Major supply chains have dramatically changed, impacting the whole province and other parts of Canada. Truck are routing through the U.S. as the only viable option. The province has declared a state of emergency. If you are interested in helping those directly impacted, you can make a donation to the Red Cross. They have set up the B.C. Floods & Extreme Weather Appeal.

Some additional information many won’t know. The Abbotsford area was once covered by Sumas Lake and lies below sea level. The lake was drained and reclaimed in 1925 with the completion of the Vedder Canal and Sumas Pump Station, which diverted the Sumas River along four creeks. As well, 40 km of flood protection dikes were also built at the time. One of the reasons for this reclamation was the mosquito infestations were so bad due to the widely changing water levels of the lake. In fact school children would be kept home from school sometimes as long as six weeks, and livestock would die from loss of blood.

Within a few years, tens of thousands of acres of farmland were added to the Lower Mainland, becoming the Sumas Prairie of quilted, pristine green fields. This area of the former lakebed became some of the most productive farmland in Canada. 

This background information isn’t provided to undermine the severity of this disaster. A record 275 mm of rain fell in one day, after two weeks of rain having saturated the ground and surrounding mountains. 

 

When was the last time you received a note, a handwritten note, inside a card saying thank you? Made you think, didn’t we?

In today’s world we are quick to fire off an email, or text message. And more and more of our youth say, what every you do, don’t leave me voice mail, I never listen to them.

How the world has changed!

Yesterday OCUF received the card you see below. Handwritten. Unsolicited.

Addressed to “CU Succeed Youth Bursary” which represents not just our Board, but the many credit unions, supporters, and sponsors that make the bursary possible. This card is for you.

Kaleb, we say thank you. Thank you for taking the time to express your gratitude in a way that left an impact in todays fast paced world. Thank you for reminding us of the importance of saying thank you. Your “reaching out” suggests your thoughtfulness will take you as far as you wish to travel in your post-secondary journey and beyond.

We liked the card very much. If you are interested, check out this website indigenousreflections.ca

Today is National Truth and Reconciliation Day. Lots of orange shirts around. Many companies and organizations are closed to make this a day of reflection.

The day comes with many emotions, with many perspectives, and deep feelings. Not everyone is aligned in their feelings. It is unrealistic to believe we all will align.

We can choose to use the day to reflect and understand other’s points of view. Understand more about Canadian history. Perhaps it can be a day with less judgement and recognize we all share this great land we call Canada.

If you want to move past reflection, you might consider donating one day’s pay. Visit their website.

We had 275 individuals register for the bursary this year with 118 completing the full application by June 30th. After much deliberation, and careful consideration, 69 applicants were chosen to receive a bursary award this year.

Our top recipient, Huynh My Linh D. (left) was one of the strongest applications we have ever received. Her community involvement, scholastic achievement and demonstrated need was recognized by the reviewers. Huynh My Linh receives our top award of $3,000. An equally impressive application came in a very close second from Silma M. (right) who is receiving $2,000. Six individuals tied for third spot, each receiving $1,500. Congratulations to Reauna V., Benjamin G., Zoe M., Jose N., Syeda Taliya R., and Lilly V. The remaining award winners each will receive $1,000.

We were delighted to have receive applications from members of 33 different credit unions, and award are going out to members from 28 of those credit unions. This is our highest participation rate yet. We extend our thanks to all the credit unions who promoted the CU Succeed Youth Bursary to their members.

A big thank you to the nine adjudicators who worked through 118 completed CU Succeed Youth Bursary applications. Congratulations to all the bursary recipients. We wish everyone who applied a successful school year ahead.