Mr. Speaker, today is International Credit Union Day. All of this week millions of Canadians are also celebrating National Co-op Week. The theme for this week is “Co-operation—Shaping our Future”, emphasizing that the co-operative model is a potent economic force in the Canadian economy and a leading source of jobs, incomes and community stability in many regions of the country.
As the world moves toward a global economy and downsizing continues to claim jobs, co-operatives bring about a sense of equilibrium in meeting the social and economic needs of Canadians. Co-operatives aim at building a strong Canada and offer an alternative business model.
For this reason I would ask members to join with me in recognizing and congratulating the co-operative sector which has and continues to make such a large contribution to our country. Currently co-operatives, including caisses populaires and credit unions, have a membership of 15 million Canadians and have combined assets of over $167 billion. Co-operatives employ over 150,000 Canadians and over 70,000 volunteers offer their time.
For co-operatives, serving the needs of members always takes precedence over the bottom line. It is for that reason co-operatives have grown.