Arctic Co-operative Development Fund

1
Arctic Co-operative Development Fund

• Government Affairs
• and Public Policy Workshop

2
ACDF - Background

• First Co-op incorporated in 1959
• Federal Government support was strong
• Good fit Co-op values ltgt Peoples values

3
ACDF - Background

• First conference of Co-ops in the Arctic 1963.
• Common problems identified.
• First expression of desire for Co-ops to join
  together.

4
ACDF - Background

• CACFL located in Yellowknife.
• Big challenges no money.
• Government providing many support services
  through its own employees.

5
ACDF - Background

• 1976 Government turns over funds and
  responsibility for program delivery to CACFL.
• Co-op Development Program 1977 81.

6
ACDF - Background

• CAP CACFL amalgamate 1982.
• Arctic Co-operatives Limited new federation name.
• Changes in the needs of Co-ops.
• Economic recession is looming.

7
ACDF - Background

• Federation and many individual Co-ops are
  bankrupt.
• Recovery plan adopted at 1985 AGM.

8
ACDF - Formation

• Fund proposed in 1984 to be a part of ACL
• 18 Million Requested
• Contribution to Existing ACL Development Fund
• ACL Board of Directors would Administer fund
• All Directors to be Elected by Members

9
ACDF - Evolution

• 2002 Work was completed on reviewing
  legal and taxation issues related to
  the restructuring.
• 2003 Delegates to 2003 AGM pass a resolution
  that provides for one Board of Directors to
  administer both ACL and ACDF

10
ACDF Summary of Achievements

• Since 1986 268 Million in financing provided to
  members
• 159 Million in Inventory Financing
• 86 Million to finance new fixed assets
• 22 Million to restructure debt

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• Thank you
• Any questions?