Growing our Futures Childcare Co-operative (GOFCC) is located in Port-aux-Basques, Newfoundland & Labrador. It is a consumer co-operative formed by a group of parents and community members who were concerned about the lack of regulated, childcare facilities in the town. The opening of the daycare is not only a source of community pride, but it also enables parents to fully engage in the workforce.
CDF Funding helped the Growing our Futures Childcare Co-operative cross the finish line
- The Co-operative Development Fund (CDF) development loan of $30,000 was very flexible in terms of what it could be used for. While GOFCC had a loan from Atlantic Edge Credit Union and funding from various provincial and federal government departments, the flexibility of the CDF funding was helpful in paying for essential expenses that were not covered by the credit union loan or government grants.
- The CDF loan was repaid entirely and GOFCC continues to operate at full capacity.
CDF provides more than just loans
“If you have an idea about starting or expanding a co-operative, I encourage you to apply for funding and assistance from the CDF”, advised Cory Munden, CEO of Atlantic Edge Credit Union and founding member of the GOFCC. Munden went on to explain: “not only did the CDF provide funding, but they also provided education on co-operatives for our members who were not familiar with the co-operative business model, how to start a co-op, how to register a co-op and write bylaws.”
