January
Co-op Group scraps 2p reward in favour of member pricing
Members of the Co-op Group can no longer earn rewards. As of 24 January, instead of earning rewards for purchasing Co-op products and services (currently 2p for every £1 spent), members have “exclusive prices across food, insurance, funeralcare and legal services”.
Toronto dreams big on co-op housing with plan for 900 homes
The City of Toronto has announced plans for one of Ontario’s largest affordable housing projects in the past 25 years – which will form the Canadian province’s largest co-operative development. The city authority says Civic Developments, Windmill Developments and the Co-operative Housing Federation of Toronto will be development partners for the project.
February
Channel Islands CEO attempts to quell member revolt over divi
Mark Cox, CEO of Channel Islands Co-op, has issued a statement to members after a proposal to cut or suspend the dividend sparked a backlash, with some members closing their accounts.
Co-op Group sets out ten-point plan to tackle record crime rates
The Co-op Group has set out a ten-point plan to tackle retail crime – which hit record levels at its stores in 2023, rising 44% to more than 330,000 incidents. Commissioned by the Group and written by Emmeline Taylor, professor of criminology at City, University of London, the report recommends making attacks on a shopworker a stand-alone offence.
Coop Exchange hits £10m valuation in pre-seed funding
Fintech start-up Coop Exchange has hailed its pre-seed funding round as “a significant milestone”. The venture has hit a £10m valuation, with Canadian insurer Co-operators leading the investment with a contribution of over CA$2m.
March
Co-op bodies draw up plans to help councils grow social economy
Co-op development bodies have joined new schemes to develop the social economy in regional areas, with Co-operatives UK working with the Greater Manchester Combined Authority and Co-op Futures helping deliver a project with Oxford Council.
Workers at REI Co-op march on Seattle HQ with contract demands
Workers at US outdoor retail co-op REI marched on its Seattle HQ with a brace of contract requests, and called on management to negotiate. The march involved workers who have unionised with the Retail, Wholesale and Department Store Union and the United Food and Commercial Workers International Union.
Co-op model can fix problems of supermarket sector, says BCCM
Australia’s Business Council of Co-operatives and Mutuals (BCCM) says a co-operative approach can help ensure equity, diverse ownership and community cohesion in the supermarket trade. The apex was responding to a paper from the Australian Competition and Consumer Commission (ACCC), which is conducting a 12-month inquiry into supermarkets.
April
Coventry Building Society agrees terms for takeover of Co-op Bank
Coventry Building Society has agreed the key commercial terms for a £780m takeover of the Co-op Bank. The deal, reached with the owners of the bank after months of talks,
would make Coventry the UK’s seventh largest lender with assets of around £89bn.
Co-op Group and Midcounties win SBTi seal of approval for net zero targets
The Co-op Group and Midcounties Co-op have become the first UK convenience retailers to have their net zero targets validated in line with the most recent standards set by the Science Based Targets initiative (SBTi) – the global body that assesses corporate climate targets.
Lawmakers introduce bill to strengthen worker co-op sector
A bill has been introduced to US Congress with the aim of expanding the worker co-op sector with new support programmes and initiatives. Measures include reviewing regulations to remove barriers preventing the wide-adoption of the worker co-op model by facilitating access to capital, education, outreach and technical assistance.
Singaporean parliament amends Co-operative Societies Act
Singapore’s parliament has adopted an amendment to the Co-operative Societies Act. Under the amendment, co-operatives can use their reserves to distribute dividends to members or pay an honorarium to members of their management committee (board fees), subject to regulatory approval.
May
Heart of England names food chief Steve Browne as CEO
Heart of England Co-op has appointed Steve Browne as its new chief executive, succeeding Ali Kurji on his retirement in October after 42 years’ service, including 20 at the helm. Browne, 43, joined the society in 2018 and is currently general manager of its food division, overseeing 37 convenience stores and two Bewiched branded coffee shops.
MEPs adopt new rules on platform work after campaign by Cecop
The European Parliament has adopted new rules to regulate the platform economy – a sector marked by insecure work which has been subject to labour rights campaigns by the worker and platform co-op movements. Under the adopted text, workers on digital labour platforms are presumed to be in an employment relationship with the platforms, as opposed to being self-employed.
World’s credit unions urged to help region hit by catastrophic floods
After heavy rains brought catastrophic flooding to the Brazilian state of Rio Grande do Sul, a global appeal has been launched to support its credit unions. The Brazilian Flood Relief Fund was launched by the Worldwide Foundation for Credit Unions (WFCU), in partnership with World Council of Credit Unions (Woccu), to help affected credit union workers and their communities.
US electric co-op apex sues government over green power law
The National Rural Electric Cooperative Association (Nreca) has filed a lawsuit challenging the federal Environmental Protection Agency (EPA) over its new power plant rules. Designed to curb climate change and push the US towards cleaner energy, the rules, announced on 25 April, require existing coal plants and future natural gas plants to cut carbon emissions. But Nreca says the EPA is overstepping its authority and argues the changes will threaten America’s electricity supply.
June
Labour manifesto maintains pledge to double the size of the UK co-op economy
In the weeks leading up to the general election, the Labour Party reiterated its commitment to double the size of the co-operative economy – a pledge retained from its 2019 manifesto. Party leader Sir Keir Starmer made the announcement at an event held at the Co-op Group’s service centre in Manchester on 13 June.
New roles planned to ‘activate membership’ at the Co-op Group
The UK’s Co-op Group is considering a restructuring of its member engagement field team – controversially replacing its 900 member pioneers with 61 new full-time equivalent member engagement activators. The Group says the new role will “have the sole remit to connect, engage and support member-owners” in communities at a regional level.
Channel Islands Co-op joins partnership to offer mobile phone service
Channel Islands Co-op has entered an agreement with telecoms company Sure on a new mobile service covering Jersey and Guernsey. The retailer proposes to give its membership access to the Sure’s network, forming Coop Mobile – a mobile virtual network operator, offering its own range of mobile services, competitive pricing, and product offerings.
UK’s Central Co-op hosts Euro Coop General Assembly
The European Community of Consumer Cooperatives, Euro Coop, held its general assembly on 13 June at the Central Co-op Support Centre in Lichfield. The event saw members sign off on reports from the president and secretary-general, as well as approving financial and activity reports for 2023.
Australia’s co-ops and mutuals sector shows significant growth
Australia’s top 100 co-ops and mutuals posted a record performance in 2023, defying domestic and international headwinds to grow total revenue by 16.1 % to AU$43.2bn (£22.74bn). Growth was particularly evident across the health insurance, agribusiness and motoring services sectors.
July
Labour has set out its first legislative programme after its landslide UK general election win brought an end to 14 years of Conservative rule – and netted its sister organisation, the Co-op Party, a record representation in Westminster. With a manifesto commitment to doubling the UK’s co-operative economy, Labour’s win was welcomed by the co-op movement, which also acknowledged policy changes including banking reforms, devolution of power and an end to the de facto ban on onshore wind.
Co-op Group launches awareness campaign to promote movement
The Co-op Group launched one of its biggest ever campaigns to encourage the UK to become a nation of co-operators, by explaining the financial and social benefits of the co-operative model. The Owned by You, Right By You comes as Opinion Matters reveals that two fifths of consumers (42%) admit they don’t understand what constitutes a co-operative.
UN holds event to discuss the 2025 International Year of Cooperatives
The UN hosted the soft launch of the International Year of Cooperatives (IYC) on 9 July, at its New York HQ. The event was organised by the UN Committee for the Promotion and Advancement of Cooperatives (Copac), in collaboration with the Permanent Missions of Mongolia and Kenya to the UN. The opening keynote saw John Wilmoth, director of the UN Department of Economic and Social Affairs (Undesa), call on national governments to push the UN’s Sustainable Development Agenda.
Co-ops and credit unions support Hurricane Beryl recovery
Co-ops and credit unions are backing recovery efforts to support members in the US and the Caribbean affected by Hurricane Beryl. Among those needing assistance is the Caribbean Confederation of Credit Unions’ (CCCU) Development Foundation, which has launched an appeal for support. The Worldwide Foundation for Credit Unions (WFCU) was quick to respond, pledging US$5,000.
August
Co-op movement responds to wave of riots across UK
UK co-ops have condemned the wave of far-right violence that spread across the country in the wake of the knife attack on a dance class in Southport on 29 July, where three children died. Co-operatives UK, the Co-op Foundation and the Co-op Group were among organisations affirming their commitment to diversity and inclusion and pledging support for affected communities.
UK credit union sector hits record income for 2023
The Bank of England has issued its annual statistics for the credit union sector, with income rising by 27.5% to record levels in 2023, to £324.3m. Tom Cuppello, director of risk at Broadstone, said: “The Bank of England data demonstrates the growing role that credit unions are playing in our financial ecosystem as the cost of borrowing has risen.”
Battle to save long-standing Canadian fruit co-op as growers struggle for support
BC Tree Fruits Cooperative is closing after 88 years trading, with an order by the British Columbia Supreme Court to sell its assets. The news prompted protests from local farmer members who rely on it to handle their crops, including apples, cherries, pears and peaches.
Street protests against Nepalese co-op banking fraud scandal prompt state action
Nepal’s government says it is acting on the misappropriation of co-op savings funds, which has brought a wave of street demonstrations. Twenty-one co-operatives have now been officially declared ‘crisis-ridden’, representing Rs36.289bn (£338m) in embezzled funds from 59,587 depositors, with hundreds more co-ops believed to be in trouble.
September
UK Co-op and Mutuals Economy report shows combined income of £165.7bn
The UK’s 9,300 co-operatives and mutuals have a combined income of £165.7bn, according to the latest Co-operative and Mutual Economy Report. Produced by apex Co-operatives UK, the report sets a baseline from which the government’s commitment to double the size of the co-operative and mutual economy can be measured.
Lincolnshire Co-op replaces ‘dividend’ with ‘cashback’
Lincolnshire Co-operative is changing the way it is talking about member rewards, replacing ‘dividend’ with ‘cashback’, following research involving members, customers, and people who don’t currently shop with the organisation. “Many customers and non-customers were unclear what we meant by ‘dividend’,” said Lincolnshire in a statement.
US government announces push on employee ownership, and the green transition in electric co-ops
Sixteen electric co-ops across the USA are to receive over $7.3bn in grants and loans from the US Department of Agriculture supporting clean energy in rural communities. Meanwhile, the Department of Labor has created an employee ownership initiative which aims to empower workers through ownership arrangements and educate them on possible pathways to greater rewards in return for their labour.
Co-op sector’s dismay as European mandate fails to mention social economy
Co-operatives Europe and Social Economy Europe criticised the list of European Commissioner nominees which fails to include a clear mandate for the social economy. The sector is not mentioned in the Commission’s political guidelines or the mission letters of the designated commissioners, despite representing 10% of all businesses in the EU.
African Union adopts 10-year social and solidarity economy strategy
At a meeting in Addis Ababa, the African Union adopted a 10-year plan for the social and solidarity economy. It says the plan presents “a comprehensive policy framework to support African Union regional economic communities and member states in their endeavour to legitimise, support and expand the contributions of the SSE in Africa”.
October
The CEO of Co-operatives UK, Rose Marley, has been appointed to the board of the International Cooperative Alliance (ICA), the global apex for co-ops. Marley, who was nominated by Co-operatives UK’s International Co-operative Working Group, replaces Ben Reid, who is stepping down for personal reasons.
Logo released for the 2025 International Year of Cooperatives
The UN has unveiled a logo for the 2025 International Year of Cooperatives. In order to use the logo, non-UN entities, including co-ops, must apply for approval and sign a waiver of liability form. Applications will be dealt with by the UN Committee for the Promotion and Advancement of Cooperatives (Copac).
November
Co-ops applaud Mansion House pledge for a new mutuals council
A month after her budget drew a cautious welcome from the co-op sector, with relevant measures on retail crime, employee ownership, community energy and business rates, Rachel Reeves announced a national council for co-ops and mutuals at her Mansion House speech. Sector players on the council will include Co-operatives UK, the Co-op Group, insurer Royal London, dairy co-op Arla, and Nationwide Building Society. She also announced a review of credit union law, including the common bond.
Robert Kelly to step down from helm of credit union apex Abcul
The Association of British Credit Unions (Abcul) has announced that its CEO Robert Kelly is to step down in the new year. Kelly has led the association for six years, and began his role with the launch of sectoral strategy Vision 2025.
Co-ops react to Trump’s sweeping election victory
Co-ops and credit unions have responded to Donald Trump’s return to the White House, with the apexes for the electric co-op and credit union sectors pledging to work with the new government and lobby for their members. Meanwhile Doug O’Brien, CEO of co-op apex NCBA Clusa, said: “People are looking for change; co-ops present real answers; and we as a co-op community need to come together to make it happen.”
International Year of Cooperatives launches
The ICA Global Conference gathered the world’s co-op movement in New Delhi for three days of discussion – including the launch of the UN International Year of Cooperatives 2025. The launch saw UN dignitaries and politicians, including the prime ministers of India and Bhutan, take the stage. Delegates were told the International Year is an opportunity for countries around the world to leverage co-operation for national and international development.
December
Fund for International Co-operative Development launched by UK co-ops
A new development fund which aims to strengthen and rebuild communities around the world through the power of co-operation was launched on 21 December in Rochdale, UK. The Fund for International Co-operative Development (FICD) is rooted in the idea that “international co-operation and mutual aid are the cornerstones of a resilient and just global community”.
East of England Co-op CEO, Doug Field, steps down
Doug Field (left), chief executive of East of England Co-operative, has announced he is leaving the organisation, with COO Andy Rigby appointed interim CEO for 12 months. “I have always believed that those of us so passionate and enthusiastic about our working worlds, will have a very conscious recognition of when the time might come to embrace change, find a new challenge, or avoid the danger of the ‘workday plateau’,” Field wrote on LinkedIn.
Roxana Mînzatu takes Europe’s social economy portfolio
European Commissioner Roxana Mînzatu will take charge of the social economy portfolio at EU level, including the implementation of the Social Economy Action Plan. Co-operative and social economy actors welcomed the announcement, after the initial letters sent to commissioners had failed to include any references to the social economy.
Co-ops need ‘courage’ to follow up measures in G20 declaration
After Brazil handed the G20 presidency to South Africa on 19 November, co-operatives and credit unions are exploring how to continue to impact discussions at next year’s summit. This year’s G20 Leaders’ Declaration recognised “the significant role of financial inclusion in improving financial wellbeing” and committed “to harness the potential of digital and emerging technologies to reduce inequalities”.
