Co-operative News
Co-op's mass rally to save planet foiled.
The Co-operative urged & helped members
to pressure the government to act...
The "Wave" rally by Stop Climate Chaos Coalition,
marked the start of climate change negotiations
to try to secure a new international agreement
on global greenhouse gas emissions.
A coalition of 100 UK organisations, including
the Women's Institute & Friends of the Earth,
representing over 11 million people, marched.
The event in London on December the 5th was
the UK's BIGGEST EVER protest on climate change.
Organisers saw a mighty river of campaigners
flowing through the streets of London to push
for proper action to tackle climate change.
Paul Monaghan, head of social goals &
sustainability for the Co-operative Group:
"As a business with commercial interests in
farming, food and finance, we are deeply
concerned that an ambitious and fair deal
be agreed in Copenhagen.
"Previously, our members have successfully
lobbied governments for a meaningful
Climate Change Act and targets for 2050.
Now we are calling on the UK government
to take this to the international stage."
But instead, the government wrecked any chance of
world agreement by disguising a sly plan to stop
Asia's rise... as the UK's 'climate policy'"
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Co-op bank funds research to stop oil sands development
The Co-op banking and investment group is providing £50,000
to fund a legal action in Canada that could help
block the development of the country's oil sands.
The money is being used to fund evidence-gathering
for a case being brought by the Beaver Lake Cree nation,
in Alberta, where the oil sands industry is based.
The Beaver Lake Cree say their rights to
hunt, fish and gather plants in the area,
granted by treaty in 1876, are being violated
through pollution created by oil sands developments.
Shell, a big investor in the oil sands, and BP,
will be affected, if the case succeeds.
Co-operative Financial Services,
the mutually-owned group that includes the Co-op bank,
is supporting the case as part of a campaign
against the oil sands it is launching this week.
It plans to spend £500,000 in its campaign
against what it describes as "Toxic Fuels",
in association with WWF, the environmental group.
Co-operative Asset Management, part of the CFS group,
a socially responsible investment fund,
is urging British companies to abandon plans
for further oil sands development.
Carbon dioxide emissions are higher than for
conventional oil production, and the area is
already scarred by huge open-cast mines and
lakes polluted with waste water.
The Beaver Lake Cree say the animals they
traditionally hunt, such as caribou and elk,
are driven away by the oil sands projects,
or contaminated by the industry's pollution.
Their case against the governments of Canada and Alberta,
argues that permits granted to companies
to develop the oil sands are unconstitutional,
because their right to hunt (promised in 1876,
and incorporated into the Canadian constitution in 1982),
is not being adequately protected.
The Beaver Creek Cree hope to use the Co-op's funding
to gather a weight of anecdotal evidence.
The case will take several years to come to trial
but Jack Woodward, their lawyer, says he hopes this year,
to apply for an injunction to block specific developments.
NEW DEMAND:- TURN FAILED BANKS BACK INTO BUILDING SOCIETIES.
The Building Societies Association is researching
how the mutual sector can be expanded.
Labour MPs say mutually owned building societies,
are safer with our money, as they are barred
from investing more than half their mortgages
in wholesale money markets.
Northern Rock and Bradford & Bingley were building societies
before becoming stockmarket-listed banks in the 1990s.
The Co-op's general secretary Michael Stephenson:
"The government could consolidate Northern Rock
and its holding into one institution; when all
debts are paid back, the institution could be
converted into a building society. Alternatively,
government could give existing financial mutuals
(such as Nationwide) the right of first refusal
when it decides to put the institutions it nationalised up for sale."
"When the last Conservative government
encouraged building societies to demutualise,
it plundered generations of assets from mutual societies,
replacing prudent mortgage providers with
some of the worst culprits of casino capitalism."
Any move to "remutualise" should be supported
by the Co-operative party's 29 sponsored Labour MPs,
including its very own Ed Balls.
John McFall, a Co-op sponsored MP:
"If ever there was a time for an expanded mutual
sector, it's now. We desperately need to restore
faith in financial services in this country."
Mark Lazarowicz, Labour MP for Edinburgh North and Leith:
"This is an issue that is worth airing
at a time when confidence in the banks
is at an all-time low."
Llandudno Credit union launches debit card
Members of the Llandudno Credit Union can now,
with their new current accounts and debit cards,
pay for goods in shops and use cash machines.
The assembly government has invested £100,000 to
help the Llandudno union set up the new current account,
and sees it as a way to help low-income families.
Social Justice minister Dr Brian Gibbons says
it's "the next step" in developing Wales' credit unions.
"Up and down the country people are struggling
with the personal ramifications of the downturn
and credit unions are to help," he says.
They provide a "safe haven" for hard-earned savings,
and a "fair and understanding hearing for a loan application".
The Llandudno Credit Union now provides standing order
and direct debit services, and the account can receive
direct benefit and salary payments.
Barry Roberts, manager of the Llandudno Union:
"We have been attracting new members from all walks of life.
Obviously, there are people who are on low incomes
who tell us they have found it difficult to
open a normal bank account,
but there are also people who are just generally fed up
with the service they've been getting from their high street branches."
The new service works through the active co-operation
of the Co-operative Bank, which handles the technical side
of issuing the debit cards and the electronic account management.
Mr Roberts: "The credit unions are
effectively piggy-backing on their system.
So far, we've issued 50 cards as we trained to
use the system, and now we're officially open for business."
Just one small drawback...
"Because we are a credit union, there are no overdraft facilities.
If there are insufficient funds to meet something like a standing order,
we will be charged ourselves for that, and we have to pass it back to the members."
The union therefore has a system where they
text message members instantly
to warn them when they are overdrawn,
and a pledge that any charges it has to impose
will never be more than a maximum of £15.
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Co-op "Renaissance" now an alternative to banks
The Co-operative Group says it aims to give
a genuine alternative to customers fed up
with banks and their unethical business practices
as it completes the merger of its financial
services arm with Britannia building society.
Co-operative Financial Services (CFS) opens for
the first time as a newly-enlarged business
after formally sealing the deal this weekend.
The combined group holds £70 billion in assets,
has nine million customers, 12,000 staff and
more than 300 branches.
Former Britannia chief executive Neville Richardson:
"Through this merger we take the next step in
the renaissance of the co-operative and mutual sector.
"Trust has become a scarce commodity in other
financial businesses of late and we aim to
provide a genuine alternative to those
disillusioned with shareholder-owned banks."
CFS chairman Bob Burlton adds: "We are doing this
at a time when many people are calling into
question the integrity of their banks."
The merger combines Britannia's more extensive
branch network with the Co-operative Bank,
which also includes internet bank Smile, as well
as CFS's insurance and investment divisions.
The new business provides a "unique, ethical
alternative to shareholder - and government -
owned banks", a joint statement says.
Customers keep the same products and services
and the new business continues to trade under
the Britannia and Co-operative brands.
Britannia branches are found in Newport,
Cardiff, Bridgend and Swansea.
Co-operative Group divi'
Customers of the Co-operative Group are set to share
almost £9 million through the payment of an interim dividend.
About 2.1 million members used their membership card
to trade with the group in the six months to June 30.
Half of those due to receive payment have elected
to donate a proportion of their dividends to charity,
and about £500,000 will be distributed to community groups.
Members earn points when they trade with the group
and these are then converted into a share of the profits.
Each point is valued at 1p.
A member will usually earn one point for every pound spent,
with 500 points for a Co-operative insurance policy
and one point for every £20 outstanding
on a Co-operative Bank mortgage.
Patrick Allen, the Co-operative Group's director of marketing:
"Although we are not immune to the general economic downturn,
it is worth remembering that as a co-operative organisation
it is our members who benefit from our financial achievements
and no faceless City traders can speculate on our business."
The 2008 interim dividend is over £2 million more than in 2007.
Mr Allen adds: "Our interim operating profits
increased by 35.6% and so I am delighted that our
members are sharing in this success and thanks
to their generosity it will make a real difference
to many charities that are doing such great work
in the local communities we serve."
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CO-OPERATION IS MORE NECESSARY NOW !!!
Two leading thinkers, Neil Lawson and Stephen Thake
have been commissioned by the Joseph Rowntree Foundation
to examine the best way forward for Britain.
Mr Lawson, chair of Compass and a Research Fellow
at the Global Policy Institute, is joining Mr Thake,
Reader in Urban Policy at London Metropolitan University,
for a high profile debate in London.
Mr Lawson: "All the problems we face demand that
everyone work together to achieve shared goals.
The credit crunch, the problems with financial
services regulation, the shortage of affordable
transport, the closure of post offices, the need
to regulate labour markets and of course climate change,
all demand greater collective co-operation.
"None of them are issues we can solve alone as
individual consumers. In no instance is anyone
saying the answer lies in more freedom for the
market. The market is the problem, not the solution."
Mr Thake adds: "Many people may think it odd that
individualism can be considered a social evil.
But it is when it morphs into narcissistic self-absorption;
when it is driven by greed rather than need.
"It is a question of balance and we have got the balance wrong.
Selfishness is a consequence of greater individualism
and greed is a driver of consumerism.
"Without understanding the drivers it is not possible to
find a point of entry and social evils will remain unsolved."
The social evils debate is taking place at
the Royal Society for the encouragement of Arts,
Manufactures and Commerce (RSA), in John Adam
Street, central London.
The Co-operative Group completes its
take over of Somerfield for £1.56 billion.
This makes the Group the sixth largest retailer
in the UK with a share of eight per cent and
the market leader in convenience stores.
The society’s £1.565bn purchase of the retailer
on a cash free debt free basis has led to the
acquisition of 880 retail outlets across the UK.
In the year to April 2008 Somerfield generated
net sales of £4.2bn, and earnings before interest,
tax and depreciation of £233m. At the year end
net assets totalled £1.3bn.
The combined food business will operate
more than 3,000 grocery stores and generate
net sales of about £8bn.
Peter Marks, Chief Executive of The Co-operative
Group, says: "This is good news for consumers
and for competition in the grocery market where
we will create a stronger fifth player in food
and a convenience store chain with unrivalled geographic reach.
"For The Co-operative Group this is a transformational deal
- cementing our position as the UK’s premier community retailer
and helping us significantly as we lead a renaissance
of the Co-operative brand. Together, The Co-operative
and Somerfield colleagues will be better placed
than ever before to provide consumers with great
choice, value and service.
"The acquisition of Somerfield will provide the
rocket fuel for our three-year growth plan,
outlined in April of this year. Under this plan
we are revitalising our retail estate under a
single unified brand – modernising our stores,
improving our product offer and service levels
for customers and members and reinforcing our
Co-operative difference.
“There is a strong strategic fit between the
two businesses, with both focused on the highly
competitive top-up and convenience shopping
market. We anticipate real cost and revenue
synergies, enabling us to enhance still further
the overall value we deliver to our customers.
"Given a deal of this nature, there are likely
to be some local competition issues. We are
confident we will be able to work through these
with the Office of Fair Trading."
Paul Mason, Chief Executive of Somerfield, says:
"The Co-operative Group and Somerfield have a
similar focus in terms of customers, store
types, product ranges and business vision.
Our shared vision of providing a high quality
and affordable convenience offer to local
communities means that together we will be twice
as strong and therefore twice as able to deliver
the local grocery shops British customers demand.
"Over the last two years we have transformed
every aspect of Somerfield, a significant achievement,
and as a result we are now trading from a position
of strength. With Somerfield and The Co-operative Group
as one business we believe that we can learn from
each others strengths to ensure we continue to
develop the best local grocery shops in Britain."
The first co-operative trust school in the UK
is set to be launched.
Labour/Co-op MP Ed Balls,
the Minister for Children, Schools and Families,
visit Reddish Vale Technology College, near Stockport,
to see the work in progress on the college’s structure.
It hopes to adopt the co-operative trust model,
which will enable all stakeholders to play
a meaningful part in running the school.
Staff and governors at the college are working closely
with the Co-operative Group and the Co-operative College
to develop a co-operative structure which, it is hoped,
will be adopted by other schools across the U.K.
It is envisaged that the college will create a Co-operative Forum
to which all stakeholders will be invited to become members.
This forum will then elect representatives to the governing body
who will be responsible for reporting back
regularly to the Co-operative Forum.
Len Wardle, Chair of the Co-operative Group:
"The Co-operative Trust offers an inspirational opportunity
for pupils, staff, service users, community members and partners
to co-operate collaboratively and to share the strong values
and principles which have been the basis of
the Co-operative Movement for more than 150 years."
WALES CO-OP CENTRE DOES US A POWER OF GOOD
Wales Co-op Centre has supported Community Enterprise
development for years, since being set up by
the Welsh Trade Union Congress to do just that.
Find out how they can help YOU, and more about
their work in Wales, by pressing the links below...
Wales' Co-op Centre website
Wales Co-op Centre Newsletter
THE BIGGEST PRIZE? WEALTH CREATION
......and POINTS WIN....?
More than a million Co-op customers will share a
£19.6m payout as part of a profit-sharing scheme.
The Co-operative Group said it would pay out 1.43p
for every point earned across its network of businesses.
Around 1.4 million members will benefit from the windfall,
although the Co-op said almost half of them had already
opted to give part of their payment to community groups,
while others have chosen to forego their entire share.
This means more than £520,000 will go directly to charity groups.
The dividend scheme is linked to the company's profits.
The Co-op said a shopper who spent £10 a week in its stores
during 2006 would get a dividend payment of £7.43.
Members will receive their payments either by cheque,
directly into their bank account or in vouchers
that can be exchanged for goods or services.
The group, which made pre-tax profits of £318m in 2006,
relaunched its membership scheme last year.
The group's family of businesses comprises 3,000 outlets
providing food, travel, and pharmacy and funeral services.
It also deals in banking and insurance
and runs an online electrical store.
Chief executive, Martin Beaumont:
"The growth in members since last year clearly demonstrates
that many consumers share our belief in self-help,
social responsibility and democracy, and like us
are prepared to take a stand on consumer and social issues.
"At a time when communities are becoming increasingly dominated
by a handful of large and impersonal businesses,
we are showing consumers that there is a better alternative,
one which is ultimately owned and controlled by them."
The Coop News website
CO-OPERATION PAYS - BIG TIME !
Co-operatives across the UK report a combined turnover
of £27.4 billion, with profit before tax £539 million.
There are over 4,735 jointly owned, democratically controlled
co-operative businesses in the UK, owned by 10.8 million people
and sustaining more than 237,000 jobs.
These numbers include not only the consumer-owned
High Street “Co-op” shops but also employee owned
co-operatives, co-operative consortia, agricultural
co-operatives, housing co-operatives, fishing co-operatives,
community-owned co-operatives and credit unions.
Mr Reid;
“For the first time last year we were able to
draw together comprehensive data on the size
of the co-operative sector as a whole.
It is rewarding this year to be able to publish
the first comparative results, which not only show
the scale of the sector but also its diversity.
“Whether it is on the high street, in agriculture,
in collective buying for bakers and plumbers merchants,
in the provision of health care or housing,
in ethical finance, in maintaining village shops
and post offices, or in supporting football in
the community – co-operatives are making a difference.”
He went on to tell the audience that co-operative
food retailers had a good year but warned that there
were undoubtedly going to be difficult times ahead.
“We cannot rest on our laurels. Volatile market
conditions and increasing fuel costs are already
impacting on food retailing. We need to be alert
to the need to respond so that we maintain our recent gains.”
The co-operative food retailers, have performed
particularly well, with turnover up by 3.9% and
net profit up by 40%. At £471m this is the highest
level of net profit recorded in recent years.
Pauline Green, Chief Executive of Co-operatives UK:
“Many people underestimate the contribution
that co-operatives make to the UK economy,
but as these figures show, co-operatives are
a real force in job creation, social change
and the delivery of important services in this country.”
Dame Pauline adds: “In recent years, UK co-operatives
have experienced something of a renaissance.
The merger of the Co-operative Group and United
Co-operatives in 2007 created the world’s largest
consumer co-operative with 2.5 million active
trading members and more than 73,500 employees."
Co-operation takes many forms.
It might be a mistake if we only see
co-operation as a corner shop...
or even ... as a "co-operative" !
Co-operation is as natural to human life
as breathing.
Yet "our" media delights in conflict.
The Rhondda - if it's views are to be
accurately expressed - needs its OWN media.
That's why Rhondda Records is born !
As members join, they can shape its future.
Rhondda's soul - to endure and succeed -
could guide humanity forward,
with peaceful co-operation.
So we welcome good news from the "Co-operative sector"
(as if a non-co-operative sector could ever exist !)
We also welcome news from those who build new
forms of co-operation.
(Why not have a Co-operative Postal Service, for example?)
We welcome YOUR contribution:
(I HAVE to say that - after all -
WE'RE A CO-OPERATIVE !!!)
Find out how to join Rhondda Records,
or start your own, we don't mind....
there's PLENTY OF ROOM FOR US ALL -
IF you're a co-operative sort of person!
Email us at:
rayjoseph05@AOL.com
For more information about Co-operative Insurance see the pages below:
Contact Co-operative Insurance
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