If Your Co-op is in Poor Shape, How Will You Know?

Date
11 July 2019

The sun is setting on your co-op’s CMHC operating agreement. Did you know that, soon after, your co‑op will no longer receive the Agency’s reports on your co-op’s health? Many Agency clients rely on our suite of reports—the Risk Report, Plain-Language Financials and Performance—to make informed decisions about their future. Without good, factual information, your co-op is flying blind, and that’s never a good idea.

Several years ago, the Agency started to offer an Annual Health Check service. For a very low fee, your co-op can keep on getting a package of reports that assess your risk of financial trouble, measure your co-op’s results against others like it and present your audited financial statements in plain language. These reports will help your board and members see your co-op’s true financial position and may even offer some advice. In addition, through our HomeRun website, you can explore the successful practices of other co-ops and compare your results with those of any co-op group you choose.

Annual Health Check subscribers have a choice of two affordable packages. By signing up for three years, you will save almost 30%. The basic package includes your Plain-Language Financials, Performance Report and access to your co-op’s own data on the Agency’s HomeRun website. The premium package adds in the Risk Report—popular with co-op boards—along with our advice on how to improve your co-op’s wellness. 

Want to hear more? Watch this short video to learn why your co-op will be healthier if it gets an annual health check. Visit the Agency’s Annual Health Check web page for more information.

One of our staff can meet with your members or the board of directors to walk you through the benefits of the program. We know how important it is for your co-op to be successful now and in future. With the Agency’s Annual Health Check program, you’ll find it easier to stay on track. Sign up before the sun sets!

**

We’d love to hear what you’re up to! You can connect with us through LinkedIn, Facebook and Twitter.

Plans in Action

The average co-op with an approved capital plan is setting aside more than $2,800 per unit in reserves each year--more than double the 2007 amount of $1,186. We're so impressed that we're speechless!