Media Release - For Immediate Release

June 7 2010

Saint Mary's Co-op Research Part of National Study

New research to be carried out on co-operatives and credit unions at Saint Mary’s University over the next five years will help form the backbone of a new federally funded study examining the social, economic and environmental advantages that co-operatives provide to communities across the country.

Gary Goodyear, Minister of State (Science and Technology) said a new $1 million study funded through the Social Sciences and Humanities Research Council of Canada will look at topics such as social responsibility and accountability; the impact of member and employee participation on a co-operative's performance; the role of credit unions in building community wealth; and the impact of housing co-operatives on household income, skills and social capital.

"Our government is investing in science and technology to improve Canadians' quality of life, strengthen the economy and create jobs," Minister of State Goodyear said in a recent release. "This research project will look at the value that co-operatives add to communities across Canada."

Saint Mary's Economics Professor Dr.Sonja Novkovic is a lead researcher on the project. Called "Measuring the Impact of Co-operatives", the research will build on the networks, reach and partnerships of the Canadian Co-operative Association and research already undertaken by the co-operative centres for study at Saint Mary's University, the University of Saskatchewan and the University of Victoria.

"This grant highlights the excellence of our country's talented researchers and recognizes the importance of fostering collaboration to keep Canada at the leading edge of research, development and innovation in the 21st century," said Dr. Chad Gaffield, SSHRC President.

Tom Webb, Executive Director of the Master of Management - Co-operatives and Credit Unions program, said the study picks up where a previous five year federal initiative left off. He said it also paves the way for other initiatives, like a book on reporting, auditing and financial management of co-ops.

The MMCCU program is an innovative web-based program that brings together, in cyber space, co-op and credit union professionals from around the world to learn how to combine the principles of co-operation with active, aggressive management practices. Saint Mary's is also home to a Centre of Excellence in Accounting and Reporting for Co-operatives.

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For More Information:

Steve Proctor
External Affairs
Saint Mary's University
(902) 420.5513
E-mail: steve.proctor@smu.ca
www.smu.ca

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