The project has been conducting a feasibility study, and researching towards a business plan and financing plan to ensure a funeral services cooperative can be healthy and viable.  Portions of this research will be posted on this site and shared in public meetings, with some sensitive business information being confined to the steering committee.

 

 

While the planning is going on, we will be promoting the concept and offering memberships in the prospective co-op.  Memberships will be $100, and will be held in trust by SEED Winnipeg.  If the cooperative does not go ahead, this money will be refunded to the prospective members.  This membership drive will involve face to face meetings, so we can answer your questions.

 

 

Once the steering committee feels we have enough memberships to forge ahead, we will file Articles of Incorporation and By-laws for the cooperative.  This will allow the incorporators to act as the first Board of Directors and conduct business until the first General Meeting of the cooperative.  At that first General Meeting, the members will elect a Board of Directors to set policy for the cooperative and oversee the business operations.  

 

 

When the cooperative has been incorporated, we will seek to secure the financing to operate the business.   This will likely involve offering some form of investment or surplus shares to the members, although the amount and form of this offering will depend on our research.  Of course it will also be important to comply with the requirements of the Cooperatives Act and the Manitoba Securities Commission in putting such an offer together.  

 

 

Once the financing is in place, the cooperative will begin operations. The co-op staff will be accountable to the Board of Directors, who will report to the membership at the Annual General Meeting.  This will include full financial statements.  Major issues will be brought to the membership for a vote.  

 

 

As the co-op begins operations, some members will eventually pass on, and require funeral services.  When the family makes arrangements with the cooperative, the membership share and investment shares (if any) are redeemed and applied to the cost of the funeral.   As members use the services, initial profits will be set aside as a a reserve, and eventually a portion of these profits will be distributed to individual member accounts.  If the business is successful, the longer one is a member, the more financial benefit one will receive.