April 2018

April 27, 2018

Our AGM and More Than A Pub conference

Tuesday 26 June 2018

For Co-operative & Community Finance 2017 was certainly the Year of the Pub. We lent nearly £688,000 to 10 community pub groups. With 2018 set to follow that trend we thought it apt to hold our AGM this year at the More Than a Pub national conference. So this year the AGMs of the ICOF Group will be held at 12:30pm during the conference on 26 June at Sheffield Town Hall, Pinstone Street, Sheffield, S1 2HH.

If your organisation has ever borrowed money from us its highly likely it will be a member of ICOF so please do come along and have your voice heard. It is a good opportunity to meet other co-operators and catch up in person with our work. If you aren’t a member but would be interested in joining please do get in touch. A lifetime membership to Industrial Common Ownership Finance Limited (ICOF) is just £30. Contact info@coopfinance.coop or 0117 9166750.

Members will not have to attend the More Than a Pub conference as the AGM will take place in a separate room over the lunchtime period. However, if you are interested in attending the conference which is organised by the Plunkett Foundation as part of the More than a Pub programme, which we are a partner in, please visit https://www.plunkett.co.uk/Event/more-than-a-pub-national-conference-26-june for more information and to book your place. Please be aware there is a deadline to book conference tickets of 12 noon on the 18 June and places for this event are limited and available on a first come, first served basis so please book as soon as possible to avoid disappointment.

April 26, 2018

Help us build a thriving co-operative sector

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We are actively looking for new people to join our board of directors.

Co-operative & Community Finance is a well-established and respected organisation which has supported the sector with finance for 45 years. We continue to grow steadily in an ever changing environment and are looking for enthusiastic individuals to help us navigate the challenges and opportunities ahead.

We are looking for creative strategic thinkers, and people willing to both speak out and work effectively on a board. Knowledge and experience of any or all of the following: worker co-operatives, community co-operatives, employee ownership, social investment or community businesses would be highly desirable, as would a reasonable level of financial acumen, although not essential.

The directors (trustees) are responsible for the strategic direction of Co-operative & Community Finance and for managing the small staff team. Directors (trustees) receive no remuneration for their involvement although they can be reimbursed for essential expenses. Directors (trustees) are expected to attend four meetings a year.

For more information about the role or to request a Trustee Pack and Nomination Form please contact Tim Coomer tim@coopfinance.coop or call 0734 267 4673.

Please be aware any nominations for co-option or election at our AGM on 26 June 2018 will need to be received by Tuesday 19 June 2018 at the latest.

Please also be aware Co-operative & Community Finance is the trading name of Industrial Common Ownership Finance Limited (ICOF), which is authorised and regulated by the FCA in the conduct of investment business.

April 13, 2018

500 year old pub saved

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The people of Ash, near Sandwich in Kent, have succeed in buying the 500-year old Chequer Inn that has been closed for four years. The pub had previously been bought by a developer but the villagers blocked the planning application and persuaded the local authority to make the pub and Asset of Community Value.

They received specialist advice and finance from the More Than A Pub programme, which was set up in 2016 to support community ownership of pubs in England. This programme is funded by the Ministry of Housing, Communities and Local Government and Power to Change, and is delivered by the Plunkett Foundation. Co-operative & Community Finance arranges loan finance for groups that have successfully attracted local investment, usually in the form of community shares.

The Chequer Inn Ash Society raised over £400,000 through a combination of investment, grants and loans. The majority of shares were bought by local people but applications came from around the world – from Alaska, Australia, North Carolina, Scotland and Yorkshire – from people who had moved away but still had fond memories of the Chequer Inn.

Matthew Titterton, who originally began the campaign in December 2015 to prevent the pub from turning into housing, said: “We are all very excited and can’t believe that this day has finally arrived. It’s fantastic to know that this wonderful historic pub which has been the heart of the community for hundreds of years will now re-open, and this time there will be no national pub company owning it, but instead a community passionate for it to succeed. We have over 300 shareholders who are determined to make a success of it, and with the right tenant, we really hope that it will be a community pub to be proud of.”

Co-operative & Community Finance’s Investment Manager Ian Rothwell said: “The determination of the people of Ash to save their pub and prevent it being redeveloped as private housing has at last been rewarded. We are delighted to contribute to their fund raising success with a loan from the More Than A Pub programme.”

Jane Greaves, Secretary of The Chequer Inn Ash Society, said: “It’s all very exciting. The committee have a number of working parties to get the pub up and running. Refurbishment will be carried out and we will start looking for a suitable tenant. We are hoping to have an open day for Shareholders in a few weeks, but as it is currently a building site, we have a health and safety team on board so that we can do things properly. We have a very ambitious project plan and we hope to be open by the Autumn.

“The committee would like to thank everyone who has believed in the project right from the start, from the initial steering group that helped change the decision of Dover District Council members, to all campaigners, shareholders, investors, organisations and all their social media followers.”