Co-operative News

  The estimable Ursula Lidbetter recently explained in the Co-operative News how the Lincolnshire Co-operative had helped create what is effectively a new university in the city.   If anything, Ursula underplayed the key role her society played in the establishment of the University of Lincoln. Quite simply, the university would never have happened without […]

  Neville Richardson is playing himself in as the first chief executive of the ‘super mutual’ – the enlarged Co-operative Financial Services, which now includes the Britannia Building Society. He has been in place since the 1st August, but warns not to expect instant signs of change.   His first priority is simple – integration.

  The Butterfill Act – the Building Societies (Funding) and Mutual Societies (Transfers) Act 2007, to give it its proper name – has already had a huge impact on the mutual sector. It broke down the barriers that prevented different types of mutuals from merging, enabling CFS and the Britannia Building Society to come together.

  A new sustainable investment fund launched by Co-operative Investments – part of Co-operative Financial Services – illustrates the ‘co-operative difference’ when it comes to making money for investors.   Zac Hocking, head of investments at Co-operative Investments, says: “We screen out tobacco, armaments, nuclear power, oil production and some other things – including whether

  Electrification of the London to Swansea rail line is good news for public transport users in the South West and the Government’s approval for Network Rail to meet the £1bn cost is a demonstration of real commitment not just to the rail system, but also to combatting climate change.   But for many people

  Co-operative Review 2009, just published, contains some very impressive statistics. Many retail co-ops are doing well and a few are doing exceptionally well.   The strong performance continues from the Co-operative Group, which increased turnover by 1.9% in the most recent trading year, producing a 7.8% return on capital employed and a net profit

  To find the real story about the West Bromwich Building Society’s financial health you must read a fair way down into its statement explaining its latest annual results, which have just been announced. Pass over the stuff on increased savings, higher capital ratios and reduced reliance on wholesale funding.   The relevant content is

It is usually the weakest businesses that fail in a recession. The downturn leaves them no more slack to muddle through. And the unpleasant reality is that there are quite a few co-operative and other mutual businesses now feeling the pinch. If we are objective, we should not be surprised. Many of these are traditional

  Raining in Spain   Globalisation has had the effect of ensuring that one nation’s problems are even more likely to be the world’s problems. And one nation’s troubled institutions are often in a very similar crisis to similar institutions in other countries.   So, the sub-prime property crisis started in the United States, but

  The co-operative movement is “moving away from non-food retailing”, according to the Plymouth and South West Co-operative Society. It is a conclusion difficult to shy away from.   Plymouth is one of the most recent to exit the department store market, having sold its non-food stores earlier this year. The buyer is Vergo, which

  It is often said that journalists write the first draft of history. But, when it comes to the UK’s version of the global banking crisis, it is MPs who have produced one of the earliest and most relevant analyses. And our movement should be very grateful that its collective authors – the House of

  If we were living in less ‘interesting times’ – as the Chinese proverb puts it – the Butterfill Act would quite possibly now be fundamentally restructuring the mutual sector, particularly those mutuals providing financial services.   The Butterfill Act – named after the sponsoring Conservative MP, Sir John Butterfill – enables mutuals of different