Darrell Greer
Northern News Services

CORAL HARBOUR (Nov 03/99) - A new board of directors and a fresh business approach are key elements in efforts to revive the ailing Co-operative in Coral Harbour.

More than 100 people filed into the hamlet's community centre earlier this month to attend the Co-op's annual general meeting (AGM).

Greg O'Neill of the Arctic Co-operative Development Fund says the Coral Co-op has experienced financial difficulty in the past few years and members were concerned about its future.

"Within the Co-op system, a store such as Katudgevik Co-op in Coral Harbour is owned and controlled by the members of that community," says O'Neill.

"For that Co-op to be successful, the community must support it."

O'Neill says there are 40 operations which make up the Co-op system in the North.

He says some stores in the group are very successful, financially.

And, together as a Co-operative system, there's more strength than if each store was trying to stand on its own.

A number of Co-ops have gone through similar operational or financial difficulties such as those in Coral Harbour, and have been refinanced by the development fund.

"Those Co-ops turned around and are now very successful, so the investment made in them is being repaid and gives the system more money to help out other Co-ops," says O'Neill.

"We wouldn't have made the refinancing in the Katudgevik Co-op if we didn't think it was going to turn around."

The Coral Co-op operates a retail store, hotel, cable TV and various contracts such as the post office.

O'Neill says there's already signs of new life in Coral's Co-op and having the AGM to explain the situation to people and have them ask questions and raise concerns was helpful in generating more support.

"They've elected a really strong board and one of the encouraging signs was that 10 people ran for the six positions available on the board.

"We have a good team in place to really move that Co-op forward."

Jim Klaassen, Co-operative Development Co-ordinator, was also in Coral to install a computerized point-of-sale system to help monitor, track and control the Co-op's situation.

O'Neill says the store also has a good resupply, which gives it plenty of good merchandise to generate sales with.

"When I left the community, I felt everything was in place to turn that Co-op around and, based on our past experience in places like Iglulik and Pangnirtung, I know it's possible.

"Sometimes it takes coming to that type of a crisis for people to pull together and do what they need to in order to save that type of an operation."