What is Heritage and Vison .ODC.?

We believe that our economy can truly thrive, if we could divert a portion of our investment dollars toward locally owned and operated businesses and projects. While we are looking to see a return on our investment dollars, what we truly want to see is our money going to work where we live.

What is a cooperative?

A co-op is a business owned and governed by its members. Cooperatives are based on the values of self-help, self-responsibility, democracy, equality, equity, and solidarity. In the tradition of their founders, co-operative members believe in the ethical values of honesty, openness, social responsibility, and caring for others.

Heritage and Vision .ODC. operates within the co-operative principles which are guidelines by which co-operatives put their values into practice.

Investments in cooperatives are generally protected from fraud since the governance structure is open and transparent. The democratic structure of this co-op makes it more difficult for one group or individual to benefit unduly over an investment as members have only one vote no matter how many investment shares they own.

What type of businesses does Heritage and Vision .ODC. support?   

We are here to invest in any viable business ideas within our region, specifically within the Spruce Grove, Stony Plain and Parkland County areas.

Why should I Invest in Heritage and Vision .ODC,?

People that invest in Heritage and Vision .ODC. are generally people that care about their community, want to do social good and want a sustainable future for the community.

How can I invest in Heritage and Vision .ODC.?

First, you have to become a member. To become a member you will need to buy a Class A share at a cost of $200. This membership share gives you one vote. You can then purchase investment shares.

Can entrepreneurs who receive financing from Heritage and Vision .ODC. invest in the Heritage and Vision .ODC.?

Yes. This shows that the entrepreneur has a strong commitment to their business, as well as Heritage and Vision .ODC..

Entrepreneurs and other members who are involved in the operation of the business, are unable to be directly involved in any of the decisions related to their business that Heritage and Vision .ODC. make and cannot sit on the board of Heritage and Vision .ODC.

Who decides what to finance?

The Members of Heritage and Vision .ODC., will determine where the capital will be invested in your community. It is the responsibility of the board to evaluate potential projects based on their ability to provide a financial, social and/or environmental return and present these investment opportunities to its members.

As a member in Heritage and Vision .ODC., do I get a vote on how the businesses are run?

No. The Board (and its committees) decides which businesses get support.

Members have the right to:

  • Elect the board of directors

  • Receive a copy of the co-op Articles and Bylaws

  • Review reports on financial performance at the annual meeting and in the newsletter

  • Run for the board of directors (unless employed by the co-op)

  • Vote for changes in the Articles and Bylaws as proposed by the board of directors

  • Attend Meeting of Members

  • Participate in occasional member surveys

How does Heritage and Vision .ODC. finance local businesses – equity or debt?

Both. Heritage and Vision .ODC. can provide loans to potential investees or can buy into the local businesses by acquiring an equity stake. Heritage and Vision .ODC. can also pursue other avenues such as the purchase of a building to lease to local entrepreneurs and generate rental income.

When Heritage and Vision .ODC. issues investment shares, it will explain how the capital will be used.

What rate of return can I expect to receive on my investment?

The target rate of return is established when the investment shares are issued. If the co-op earns more than the original target rate of return, the Board has the discretion of increasing the dividends paid to investors.

How do I determine the market value of my shares?

The “market value” is what you paid for the investment shares at time of purchase. The market value of these shares will fluctuate and Heritage and Vision .ODC. will establish the market value on an ongoing basis.

How long do I have to stay invested?

Investments in Heritage and Vision .ODC. are for a minimum term of 5 years. During our capital raise more details will be provided in the Subscription Agreement.

Is my investment guaranteed?

There is no guarantee on your investment. Heritage and Vision .ODC. is a for-profit co-op and expects to secure a return for all investors; however, it is unable to guarantee any return or the investment made.

Are the Investment shares eligible for transfer to an RRSP or TFSA?

Yes, the shares offered are eligible securities in a participating co-op and are classified as private shares by CRA and therefore, can only be transferred to a self-directed RRSP or TFSA. The shares have to be placed inside a self-directed RRSP or TFSA . The forms necessary to complete a transfer will be available on our website shortly.

Interested? Submit your application below.

Membership Application

APPLICATION FOR MEMBERSHIP (to be completed by New Members* only)

Name *
Name
Phone *
Phone
I represent and warrant the following information to be true: (Please complete where indicated)
I represent and warrant the following information to be true: (Please complete where indicated)
a) My complete name is correctly set forth above (Provide any other names by which you are known):
b) I am 18 years of age or older. c) I am not an undischarged bankrupt. d) I am a resident of the Offering Jurisdiction** e) I am not a “non-resident” of Canada as that term is defined in the Income Tax Act

* A ``New Member`` is an applicant who is not a current member of the Cooperative.

** The ``Offering Jurisdiction`` is defined as residing, at the time of application, in the Alberta areas of Spruce Grove, Stony Plain or Parkland County.