Do your members understand the co-op’s audited financial statements, even with the auditor’s best efforts at explaining them? The Agency created the Plain-Language Financials so that co-op boards could answer that question with more confidence.
The idea behind the Plain-Language Financials is
Over the past 15 years, the Agency has worked with a number of co-operatives facing serious and complex financial challenges. Effective solutions can be difficult to achieve. They demand flexibility and an enormous commitment to positive change from everyone involved. At the Agency, nothing makes us
The Agency has developed a new information source that can guide your co-op as you navigate to the end of your CMHC agreement. The web page we’ve called Your Expiring Operating Agreement will help you chart the best course as your co-op embarks on its new chapter. Serving as an information hub, the
In 2018 CMHC made an offer to a particular group of clients, which the Agency encouraged them to accept. For a limited time, S61 co-ops locked into a high interest rate could prepay their mortgages without the usual penalty. (Unfortunately, the opportunity is no longer available.) Chadwick Towers, a
Canada Mortgage and Housing Corporation (CMHC) has provided the Agency with the 2019 utility allowances for BC.
Canada Mortgage and Housing Corporation (CMHC) has provided the Agency with the 2019 utility allowances for Prince Edward Island.
The trend to hire management companies continues. 58% of co-ops hire management companies, compared to 28% that employ independent staff as their managers.