The economy must promote a diversity of values, says Peter Kelly, director of business development at Unity Trust Bank.
The co-operative principles, the guidelines by which co-ops put their values into practice, are at the heart of what makes co-operatives different. The fifth principle states that co-operatives must provide education and training to both their members, elected representatives, managers and employees (so they can contribute effectively to the development of their co-operatives) and the […]
Co-operators from across the West Midlands celebrated the work of its 700 co-operatives, despite negative publicity surrounding the business model over recent months. Nick Matthews, chair of Co-operatives West Midlands, who opened the organisation’s annual networking lunch in Birmingham last week, said: “Despite what you hear, the co-operative movement is alive and well, and doing […]
Unicorn is a wholefood grocery and worker co-operative in Manchester with a strong focus on organic, regional and fairly traded produce. The co-operative buys preferentially from other co-operatives where it can and has a lot of co-operative suppliers, from the big wholesalers like Suma and Essential to small enterprises like the Handmade Bakery, Moss Brook Growers and […]
It is often believed co-operatives give much more support to the communities they operate in when compared to their corporate rivals, but where is the evidence for this? When examined does the sector truly have stronger links with the people they serve? And where those links exist, is the co-operative difference being witnessed in neighbourhoods? […]
The community impact index is not a definitive statement on which organisations carry out more, or less, community activity than others. What it shows is the total reported community investment activity of these organisations, ranked according to percentage of pre-tax profits. There are limitations to this reported data, both in terms of what is reported and […]
FC United is a community-owned football club in Manchester, set up by fans in 2005. The organisation’s manifesto states that the club will seek to be of benefit to its local communities, with an aspiration that a fan-owned football club would have more of a positive community impact than a privately-owned club. FC United’s community […]
With a total reported investment of £309,000, Scotmid Co-operative came top of the charity and community index. This represents a total charity and community figure of 16.1% of pre-tax profits. The society’s partnership scheme, launched in 2001, has managed to raise more than £1m since its initiation, having sponsored many charities, including the Princes Trust, the […]
Volunteering is a particularly problematic part of the index, both in terms of the lack of reported activity and the differing methods used to report. As can be seen from the next table, the majority of organisations either do not report volunteer hours at all or report only a financial value equivalent. Some report only […]
The Co-operative Bank is now owned by 70% of its bondholders, with the Co-operative Group holding the remaining 30%.