The sixth principle of co-operation between co-ops is one indicator to measure the co-operative difference.
It is not a standard reporting measure within the sector, but as Co-operatives UK’s head of co-operative advice Helen Barber says in this report, the co-operative difference is “fundamentally different” and can be measured in many ways including “investment in co-op initiatives”.
Here the co-operative support index looks at the impact of co-ops on other co-ops. From the 20 organisations measured, over £800,000 was reinvested back into the sector.
Lincolnshire Co-operative monitors its performance by using ten indicators that have been produced by Co-operatives UK in its Co-operative Performance Indicators. One of these indicators is investment in community and co-operative initiatives, which helps meet the needs of local and co-operative communities. In 2013, Lincolnshire invested £937,521 in community initiatives and £50,000 in co-operatives. This represents about 6.1% of the society’s pre-tax profit. It is also an increase from the previous year, when the co-op has invested £842,879 in community initiatives and a further £45,000 in co-operatives equating to around 6.2% of pre-tax profits.
The society supports Lincolnshire Co-operative Development Agency to help it provide advice and support for new co-ops, including housing and worker co-ops. One of the co-ops receiving support was Revival, a community-based co-operative that provides leisure and learning opportunities for health and well-being. Lincolnshire also supported the running of Lincolnshire Credit Union and Beewise Credit Union.
In an act of co-operation, members of Lincolnshire Credit Union who also have a co-op dividend card can pay in at any Lincolnshire Co-op store, while staff from Lincolnshire Co-operative receive access to a saving scheme through Beewise Credit Union.
Beewise is run by, and on behalf of, those in receipt of an income from Lincolnshire Co-op, so its members include employees and pensioners.
| Organisation name | Total reported investment in supporting UK co-operative development | Total UK & overseas as % pre tax profits (2013) | -2012 | |
|---|---|---|---|---|
| The largest UK consumer co-operatives | ||||
| Midcounties Co-operative | £304,624 | 2.98% | 2.33% | |
| Central England Co-operative | £323,000 | 2.94% | n/a | |
| Chelmsford Star Co-operative | £32,539 | 1.92% | 4.21% | |
| East of England Co-operative | £67,303 | 1.01% | 2.64% | |
| Scotmid Co-operative | £29,000 | 0.64% | 1.67% | |
| Lincolnshire Co-operative | £50,000 | 0.27% | 0.25% | |
| Southern Co-operative | £6,300 | 0.06% | 0.06% |
Read more … Concern for the community: find out how co-operatives perform in the Community Impact Index: www.thenews.coop/impact
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