Co-operative Bank reports £75m loss

co-op bank

The Co-operative Bank’s interim report shows the bank has made a £75.8m loss for the first six months ended 30 June, and it lost over 28,000 current accounts. However, the Bank said it is stronger in terms of capital and liquidity, with a CET1 ratio of 11.5%, following additional capital raising of £400m in May. […]


Solar co-op brings new energy to community buildings

Wales first solar co-op has already installed panels on community buildings, such as the Dove Workshop cafe

The first solar co-op in Wales is installing its biggest raft of photovoltaics yet. Egni Cooperative, which brings solar energy to community-owned buildings, is putting 200 solar panels on the roof at Ysgol Y Bedol, a primary school in Garnant, Carmanthenshire. Egni, Welsh for energy, already has three sites up and running in the valleys of […]


Football fans call for ownership of their clubs


Football supporters want a greater stake in their clubs, according to Supporters Direct. The fans’ trust network commissioned a poll that found 38% of people said fans should be entitled by football regulation to have a role in the ownership of their football club. As part of the poll, ICM Research conducted two surveys in […]


Financial results show progress at Tamworth retail co-op

Tamworh co-operative's head office and department store

Financial results from Tamworth Co-operative show its pre-tax surplus was up 36% on the previous year. The bottom line figure for the year ending 25 January 2014 rose from £147,000 to £201,000. Chief executive Julian Coles was pleased with the progress, but viewed the future with “guarded optimism”. “Tamworth Co-operative Society remains a profitable company having […]


Petition urges Co-operative Group to rethink governance proposals


A petition objecting to proposed changes to Co-operative Group governance has launched online. The Save Our Co-op petition calls on Ursula Lidbetter, the Group’s chair, to reject “undemocratic” proposals until they are consistent with co-operative values and principles, as laid down by the International Co-operative Alliance. It also urges the Group to be open to […]


Approval given for Yorkshire mining co-op


Plans are underway to open a co-operative drift coal mine in New Crofton, which could help create other co-operative enterprises in the area. The mine will be developed and managed by a workers’ co-operative, New Crofton Co-op Colliery, and will be operational for 17 years. The planning application was approved by Wakefield Council’s Planning and […]


Crowdfunding to help French daily newspaper turn into a co-operative


Employees at the French regional daily newspaper Nice-Matin have launched an appeal for donations of €300,000 on the popular European crowdfunding site Ulele as part of their campaign to save the business and convert it into a workers’ co-operative. Half the amount being sought on Ulele was donated in the first few days of the […]


The time is right for more clubs to become supporter-owned

Robin Osterley speaking at the Supporters Summit

Now could be the time for more clubs to become supporter-owned, Robin Osterley, chief executive of Supporters Direct, told delegates at the Supporters Summit in Wembley last month. His organisation helps fans set up supporters trusts, which act as co-operatives, both in the UK and across Europe  – and he said, with co-operative football clubs […]


Southern Co-operative elects chair and vice-chairs

Souther Co-operative chair Michael Hastilow joins vice-chairs Tom Blair and Neil Blanchard

Michael Hastilow has been elected as the chair of Southern Co-operative. Mr Hastilow, who previously served as vice-chair, was elected to the board in April 2005 and sits on the remuneration and appointments committee, chair’s committee and is a trustee of the society’s pension scheme. He replaces David Blowe who completed his term as a director […]


Somerset villagers receive financial support for shop venture

Richard Lee of the Spaxton shop, which is currently under development

The villagers of Spaxton in Somerset are building a new community shop with help from Co-operative & Community Finance. Locals formed a community benefit society in January 2011, after the proprietor of the village’s only shop announced that he would soon be ceasing trading. 291 members raised nearly £30,000 through two community share offers; funds […]