Co-operative News

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' Coop Centre website

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."