Crowsnest Opportunity Development Cooperative (CODC) was formed in January 2013 as a pilot initiative developed by the Rural Alberta Funding Development and coordinated by Alberta Community and Cooperative Association. The Crowsnest Pass along with 2 other rural communities were selected to develop a community cooperative to give local investors within that community an opportunity to stimulate ec
onomic growth right in their own backyards. These Cooperatives are not a new concept to other Canadian provinces and are one of the biggest social finance success stories. Since 1999, Nova Scotia has successfully operated the Community Economic Development Invest Funds (CEDIF) and more than $32 million has been invested that support local businesses across the province. The founding board members of the CODC, Shane Stuart, William Kovach, Janis Entem, Steve Little and Larry Saloff all come from diverse backgrounds and have deep roots within the community of the Crowsnest Pass. The CODC has a vision that puts the power back in the community members’ hands to invest their hard earned money directly into their own community. This type of investment vehicle creates a win/win situation for all parties. Local businesses gain access to funding to expand, new businesses enter the community, creating jobs and population growth, older vacant buildings are refurbished and reused, local investors pump capital back into their own community and watch the impact of their investments grow, in turn this creates loyal patronage to supporting these projects/businesses. The entire community begins to prosper and a renewed sense of vitality and pride is born. One of the key benefits to local investing is it is RRSP eligible.
