WHAT IS A CO-OP?
Cooperatives are managed by their members and because of Non-Profit aspect are usually less expensive to live in. Philosophically, cooperatives thrive on loyal membership which encourages interdependency and participation on many levels.

HOW DO I BECOME A MEMBER?
Prospective members must complete the Application for Membership and return it to the office with a $35.00 application fee. To secure your unit upon approval, a $1,200 share deposit per unit is required (effective August 1, 2007). This allows you to become a member of our Co-op and also serves as your damage deposit. This share is subject to early departure penalties.

HOW LONG DOES A PROSPECTIVE MEMBER HAVE TO WAIT TO BE OFFERED A UNIT?
There is no way of estimating how many units may become vacant at any one time. This is the main reason we cannot quote a specific move-in date. Generally we are able to give you up to two months’ notice.

DO I HAVE TO SIGN A LEASE?
No. We have a “Housing Agreement” which is a legally binding contract, but it has no expiry date. Members just give 60 days’ notice of termination of this agreement. This notice must be received in the office before the first day of the month. Please note that if you reside here for less than 2 years, your share will be prorated when it is returned to you.

DO I OWN MY OWN UNIT?
Collectively, we are owners of the whole complex, but we do not own the individual unit we live in.  We own a non-interest bearing share in V.C.C.L., the monies from which is used as working capital.  V.C.C.L. owns all 223 units through 2 mortgages.

IS MY MEMBER SHARE REALLY JUST A LARGE DAMAGE DEPOSIT?
No. Your shares give you the right to live in your housing unit and say what happens in the Cooperative.  Since we are a “non-profit” Co-op, budgeted expenses and cash flow are minimized by using your money as working capital.  It is true that if there is damage to your unit when you leave, V.C.C.L. can withhold the share until payment of assessed charges has been received.

The members of a Housing Co-operative will benefit greatly from their living situation if their project is well run, on a sound financial footing, and well-maintained. However, since it is up to the members to determine how the co-op will be run, they in fact control the extent to which they will benefit.

Participations in co-op activities and in the decision-making process is the key to each member’s control over the running of the project.  Participation will yield additional benefits in the social sphere as neighbor become friends and a community is formed.  Therefore, the prime responsibility of the co-op membership, participation in running the co-operative, is at the same time one of the primary advantages.

SECURITY OF TENURE 
As long as members fulfill their obligations to the co-operative, they can feel absolutely secure that they will not have to move unless by choice.  No landlord can come along and sell your home out from under you.

COST CONTROL
Monthly Housing Charges only increase as much as necessary to meet increased operating costs within the co-operative (e.g. hydro rate increase, increase in the price of supplies, etc.). No increases are arbitrary, and no extra money is collected as profit. Members also influence some of the costs themselves by voting on what level of service they wish to provide within the co-op.

CONTROL OF SURROUNDINGS
Through the democratic system that is used to run all co-operatives, members of a housing co-operative determine the kind of environment in which they live as a group.  They make decisions relating to their physical surroundings, such as decorating, landscaping, and whether or not pets are allowed.  They also make decisions regarding social interpersonal behaviours, such as allowed noise levels, how to handle disputes between neighbours, and the shared use of common areas.  Maintenance standards are set by the members as well.

SATISFACTION OF SOCIAL NEEDS
A housing co-operative creates a sense of community which does not exist in most urban settings.  Members, through participation in the co-op and working together, need to get to know one another and become friends.  Social and recreational activities are often part of a co-op’s program.

INCREASED MOBILITY
Upon conditions, a family may be able to move from one unit to another within the co-op as it increases or decreases in size.

OPEN & VOLUNTARY MEMBERSHIP
A Membership in a co-operative is voluntary and available without restriction of social, political, or religious discrimination, to all persons who can make use of its services and are willing to accept the responsibilities of membership.

DEMOCRATIC CONTROL
Co-operatives are democratic organizations.  Their affairs are administered by persons elected or appointed in a manner agreed upon by the members and accountable to them.  Members should enjoy equal rights of voting (one member, one vote) and participation in decisions affecting their co-operative.

RETURN OF SURPLUS
Any surplus of savings arising out of the operations of the co-operative belong to the members of the co-operative and would be distributed in such a manner to avoid one member gaining at the expense of others (non-profit housing co-operatives often use the savings from one year to offset the cost increases the next year).  Through this practice, the principle of return of surplus to the members is realized.

CO-OPERATIVE EDUCATION
All co-operatives make provision for their education of their members, officers, employees, and the general public in the principles and techniques of co-operation, both economic and democratic.

CO-OPERATION AMONG CO-OPERATIVES
All co-operative organizations, in order to best serve the interests of their members and committees, would co-operate in practical ways with other co-operatives at local, national, and international levels.

The above principles reflect those economic and social objectives which must be the basis of every co-operative.  The primary reason for initially joining a co-operative may be economic (e.g. low housing charges) but in the long run, social advantages are just as important.

WHO MAKES UP OUR RULES AND REGULATIONS
Any rules and/or regulations are first approved by the Board of Directors, but in order for them to become valid and incorporated into our bylaws, they must be approved by the membership at the General Meetings.  As a member of our co-op, you would have the right to vote for or against any regulation at these meetings.

IS VILLAGE CANADIEN CO-OP TRULY A NON-PROFIT ORGANIZATION?
Yes, it truly is.  Each year a complete budget is set up which must be approved by the Volunteer Board of Directors. Housing Charge Increases are kept to minimum—the actual increase is determined by the budgeted expenses vs. anticipated revenues in any given year.  Obviously, certain reserves are kept for unexpected major expenses.

HOW CAN A MEMBER BECOME A DIRECTOR ON THE BOARD?
Any resident member can become a Director first by volunteering to do so, or by accepting nomination.  Then he/she must be democratically elected through a secret ballot at a General Meeting by the membership.

WHO IS PAID SALARIES IN OUR CO-OP?
The Board of Directors are elected Volunteers and do not get paid for their services.  We have a General Manager,  a full-time Administrative Assistant, a part-time Bookkeeper, and an on-site full-time maintenance staff. All of these people are paid a salary.

DOES THE BOARD KEEP MEMBERS INFORMED ABOUT WHAT IS GOING ON?
Yes, we try to keep members fully informed through regular notices.

WHY DO I HAVE TO BECOME INVOLVED IN THE CO-OP AND HOW?
Because we have chosen to live in a Housing Co-operative, we have accepted the responsibility of sharing in our co-operative affairs.  It is only through member participation that a co-operative is able to function.  The more people involved, the less work any single member must do.  We can get involved by joining a committee, assisting with volunteer work, becoming a Director, reducing maintenance calls, just to name a few.

WHAT ADVANTAGES DO I HAVE LIVING IN VILLAGE CANADIEN CO-OP?