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Modo + VCSC Amalgamation: Facts

Modo + VCSC Amalgamation: Facts

Modo + VCSC Amalgamation: Facts

By Modo

Modo’s member-elected volunteer Board of Directors are recommending unanimously that Modo members approve amalgamation with Victoria Car Share Co-operative. Click through to learn why…

  • What is Victoria Car Share Co-operative?

    By Modo

    Victoria Car Share Co-op (VCSC) and Modo are the 2 oldest English-speaking car co-ops in the world. VCSC is 7% of Modo’s size, with 23 cars, 700 members, 2 f/t staff and a volunteer Exec. Director. 

  • What led to the idea of a merger?

    By Modo

    Though fiscally sound, VCSC’s size has limited its ability (read: capital) to keep up with technological advances or to hire specialized staff. A business analysis favoured a merger with Modo.

  • Why did VCSC invite Modo to amalgamate?

    By Modo

    Over the fall of 2014, management and board members from both organizations met often. The organizations are very compatible: both are co-ops, committed to community and have a shared set of values.

  • How did Modo approach the amalgamation?

    By Modo

    Our management and board conducted due diligence in regards to fleet quality, membership & existing contracts. After many meetings, Modo’s board of directors unanimously approved the recommendation. 

  • What is amalgamation?

    By Modo

    An amalgamation combines two co-ops into a single, new amalgamated co-op. It will be governed by Modo’s existing rules and operate as Modo Co-operative. ([Click for full documents](http://www.modo.coop/agm-2015-notice).)

  • When would the amalgamation happen?

    By Modo

    If approved by members, the legal amalgamation would take place on March 2. In April, the Victoria fleet would be upgraded to Modo standards and made available to members on both sides of the Strait.

  • Benefit to Amalgamation: Service Expansion

    By Modo

    If the two co-ops become one, members will begin seeing Victoria vehicles on the Modo grid in early April, enabling them to seamlessly book Victoria vehicles as they would existing Modo vehicles.

  • Benefit to Amalgamation: Visibility

    By Modo

    Expanding Modo’s service area greatly increases awareness of our brand and our expertise among the public, business, media and policymakers, amplifying our voice on issues related to shared mobility.

  • Benefit to Amalgamation: Efficiency

    By Modo

    By increasing in size, we increase our efficiency by spreading our fixed costs and special skills over a larger base, increasing profits, and reducing accounting costs in addition to other benefits.

  • Benefit to Amalgamation: Profitable Growth

    By Modo

    With fleet upgrades to Victoria (goodbye lock box and trip logs!) and Modo’s proven management skills, substantial growth in new members and utilization in Victoria is expected.

  • Benefit to Amalgamation: Co-ops Helping Co-ops

    By Modo

    Co-operation among co-ops is one of the international co-op principles. The Modo board supports amalgamation because it strengthens co-operative sharing in BC at a time of increasing competition.

  • Modo and VCSC members vote on January 29, 2015

    By Modo

    At simultaneous Annual General Meetings, the member-owners of each co-op will vote on the proposed amalgamation. Have questions or feedback? Email amalg@modo.coop.


 

Modo’s member-elected volunteer Board of Directors are recommending unanimously that Modo members approve amalgamation with Victoria Car Share Co-operative. Click through to learn why…

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Modo Co-operative
Vancouver604.685.1393
Victoria250.995.0265
Toll free1.877.226.2277
Modo Co-operative
Vancouver604.685.1393
Victoria250.995.0265
Toll free1.877.226.2277
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