Ethical Pulse - from the Ethical Junction membership

Posts Tagged ‘community’

The New Forest Food Challenge ‘Join The Revolution’ Bid

Monday, March 21st, 2011

What is the New Forest Food Challenge?

The New Forest Food Challenge is a community based project run by New Forest Transition that is getting people thinking about the food they eat and where it comes from. We want everyone to be more aware of the impact of what they eat, environmentally, economically and health-wise.

Mainly through our interactive web site we have helped develop a number of initiatives from local food markets to community garden schemes. We have organised and attended many events throughout the New Forest including Seed Swaps, a Local Food Summit, School projects, Food Demonstrations and Green Fairs.

We believe it is especially important to involve young people and to teach them about the creative solutions that exist to help us all out of the difficulties we are facing. By being positive we can change direction. The project has been successful in helping to develop networks and bringing communities across the Forest closer together but there is much to be done.

What are we trying to do?

We want to reach out to a wider audience through the medium of drama and challenge more people to think about, and act on, the vital issue of sustainable food production and consumption.

We want to commission a piece of drama about the issues of food production and climate change to be performed by a local Youth Theatre Group for schools, community groups and at special events.

The process would raise this important issue with people across a wide spectrum. The actors and audience would learn about the subject and inspire debate and action to support local food production.

How can you help?

The Coop is offering £5000 to one initiative in each of its five areas in the UK.  The winners are decided on the basis of an on line poll so we need to get as many votes as we can.

If you like what we are doing please vote for our bid on the Coop’s  ‘Join The Revolution’ campaign by following this link……

Thank you!

Find out more about The New Forest Food Challenge on:

newforesttransition.ning.com

The Road Ahead: Building Community in the Long Emergency

Wednesday, January 26th, 2011

June 27 – July 2, 2011 with David W. Orr, Stephan Mayer & Rob Hopkins.

Human history has entered “the long emergency” driven by climate destabilisation, the end of cheap fossil fuels, economic uncertainty, inequality, and increasing political turmoil. Governments virtually everywhere seem incapable of responses that are appropriate to the scale of the challenge. What’s to be done?

That question, of course, has no single answer. Responses to the long emergency will depend on varying situations and circumstances, different blends of culture and ecology, and local capacities for creativity and adaptability. But this course will focus on what communities can do to create maximum resilience and sustainability in a time of rapid change and instability.

For more details or to book a place on this course, please go to: http://www.schumachercollege.org.uk/courses/the-road-ahead-building-community-in-the-long-emergency

Schumacher College, Dartington is an active member of Ethical Junction, learn more

Myakka visit local community projects

Friday, February 19th, 2010

Myakka staff have been out to experience two local community projects that the Somerset Community Foundation have supported in the Wincanton area. On Tuesday 16th February representatives of the Somerset Community Foundation, the Growing Space Project and Penselwood Community Allotment Scheme met the team from Myakka at The Balsam Centre in Wincanton.

The Growing Space is a small community garden situated on land adjacent to The Balsam Centre in Wincanton.  Within this vital community resource, there are spaces for quiet contemplation, socialising, playing and food production.  Activities include advice and guidance for new gardeners, training for individuals and organizations along with therapeutic programmes for those experiencing anxiety, emotional difficulties and for those with disabilities.  Local schools and pre-schools also receive support for the school curriculum and opportunities for work experience.  Funding from Somerset Community Foundation recently enabled the group to go ahead with a project to build a large greenhouse for the site.

The Penselwood Community Allotment Scheme was established for the local community in this more remote South Somerset village.  Penselwood is not on a bus route and the nearest supermarket is four miles away in Wincanton.  The aim was to create a successful productive allotment producing fresh, affordable food for the community and the grant from Somerset Community Foundation enabled the group to install a water supply to 11 allotment patches.

The Somerset Community Foundation is the only charity in Somerset to be supported by the Government’s Grassroots Scheme.  This scheme means the government will match donations with a 100% top-up.  The charity aims to build stronger communities by encouraging a culture of local giving to enable local community organisations to thrive.  Select this link for further details on the Somerset Community Foundation: www.somersetcf.org.uk.

Myakka, the national furniture and homewares retailer based in Wincanton, joined the Somerset Community Foundation as a Patron last summer as part of their campaign to bring Fair Trade home.  The company are part way through creating a £25,000 Myakka Grassroots endowment fund which once complete, will be used directly to benefit local community projects similar to those visited on Tuesday.  

“Myakka have not just committed financial support as a patron they have shown a genuine interest in the work we do with their local community,” commented Julie Patterson from Somerset Community Foundation. 

Myakka have always supported their suppliers and their local communities in northern India following the principles of fair trade.  This February, they have again donated a proportion of their profits to SKSN School as well as developing further community projects to help empower older children with the ability to support themselves and their families.  “We work closely with our suppliers in India and commit to help the community around them.  We feel it’s just as important to extend that support to the local community around our business here in South Somerset,” commented Simon Whitehead, director of Myakka.

Myakka’s new catalogue comes out at the beginning of March with many new exciting lines extending their range of exclusive Indian furniture. 

   

Myakka is an active member of Ethical Junction, learn more

How to make a bigger difference and double your profits

Friday, February 5th, 2010

February is make a difference and make a profit month at CommunitySoul.

Twice each week, throughout February, CommunitySoul are running free tele-seminars and webinars aimed at helping you make your difference and make a great living too.

These seminars look at mindsets and strategies, as well as tools and techniques.

Almost 2000 people have already participated in these sessions, which have been promoted by TV presenters in the UK and USA, as well as best-selling authors, publishers and internet marketeers.

Director, Neil Fellowes says, “Our role is just to show the conscious business owners how they can become more visible and create strong businesses, so that more business comes to businesses that have a conscious approach.”

You can join in the seminars by registering at www.communitysoulbusiness.com

CommunitySoul is an active member of Ethical Junction, learn more

Transitional demands, by Sarah Irving

Wednesday, December 16th, 2009

From modest beginnings as a permaculture class project at a college in Kinsale, Ireland, the Transition movement has spread its message of community resilience and low-carbon living around the world. The first ‘transition town’ in Totnes, Devon, established by permaculture tutor Rob Hopkins in 2005, now has counterparts as far afield as New Zealand, Japan, Canada and Finland.

According to the ‘official’ Transition website (www.transitiontowns.org) ‘a transition initiative is a community working together to look peak oil and climate change squarely in the eye and address this big question: for all those aspects of life that this community needs in order to sustain itself and thrive, how do we significantly increase resilience (to mitigate the effects of peak oil) and drastically reduce carbon emissions (to mitigate the effects of climate change)?’

Twelve steps guide transition initiatives through a process designed to end in a clear vision, based on practical, demonstrable experiences, of how a community will implement an ‘energy descent plan’ to survive the threats of climate change and exist without the accustomed abundance of fossil fuels to heat our homes, move us around, light our streets and cook our food. As Ben Brangwyn, one of the Transition Network’s trustees, puts it, ‘If we wait for governments, it’ll be too late; if we act as individuals, it’ll be too little; but if we act as communities, maybe it’ll be enough.’

Four years later, Transition Town Totnes activities include nut tree planting for locally-produced protein, garden-sharing to grow food on underused land, and a business exchange which, says Ben Brangwyn, works on the basis that ‘one business’s waste is another’s raw materials.’ According to Brangwyn, around 5 per cent of Totnes’s 8,500 inhabitants are actively involved in the transition town and around 12-15 per cent are signed up to its mailing list.

Unusually for an environmental campaign, Transition Towns sees older people as vital to finding sustainable ways to live. It highlights the experience of those who’ve lived through wartime shortages and rationing. A participant at a transition cities discussion in Manchester in October 2009 flagged up invaluable skills – like preserving fruit and vegetables – found among people such as Women’s Institute members.

But even transition devotees admit that scaling up to city level presents new challenges. The early successes – such as Totnes and Lewes – were often fairly small, fairly affluent, very white market towns with existing interests in green issues and ‘alternative’ lifestyles.

One of the best-known critiques is the Rocky Road to a Real Transition pamphlet issued in April 2008 by the Trapese popular education collective. It asked whether Transition is ‘about political change’ and questioned the extent to which it engages with marginalised people and challenges established power structures. Other campaigners have highlighted the fact that middleclass consumption, such as multiple cars, overseas holidays and large houses, often has a much bigger carbon footprint than that of low-income families. The extent to which Transition could bring about real change, Trapese also suggested, was limited by vested political and corporate interests, which it seems to try to work around rather than confront.

In a July 2009 reprint of Rocky Road, Trapese acknowledged the value of the debates that the pamphlet had provoked. The collective noted that in Leeds and Glasgow, transition city plans emphasised the need for a ‘just transition’, recognising the specific dilemmas of post-industrial cities. Transition spokespeople stress that the movement is very much a ‘work in progress’, and the network’s website repeats that no one claims to know that Transition is the right way forward.

Transition in the City

Around Britain, transition initiatives – some of them signed up to the ‘official’ list and some still ‘thinking about it’ – exist in Manchester, Glasgow, Liverpool, Sheffield, Cardiff, Nottingham, Bristol, Edinburgh and in areas of London including Brixton, Tooting and Finsbury Park.

As Ben Brangwyn stresses, climate change isn’t just an ‘environmental issue’ but will spark ‘a refugee crisis’ that will put pressure on our cities and their social fabric. Craig Barnett of Transition Sheffield has done groundbreaking work with the City of Sanctuary project, thinking about ways to integrate environmental asylum seekers into Britain’s urban life. And other Transition City initiatives, such as Montpelier in Bristol, have tried to tackle everyday ‘urban’ problems, debating drug use and removing phone boxes where they’ve become a focus for vandalism and drug deals.

But with its roots in white, middle-class environmentalism, Transition has its work cut out to be truly relevant in our inner cities. Ben Brangwyn insists that efforts have been made, with meetings held in mosques and community centres, but admits that the network has had trouble ‘getting to grips with this properly’ and that initiatives need to forge diverse partnerships to make a real impact. A core group member from one city also pointed out that if Transition doesn’t get beyond the ‘usual suspects’ of the environmental community, then it’s likely to be drawing on already over-committed people who either have very limited time to give, or who have to abandon other projects to take up Transition.

‘If we wait for governments, it’ll be too late; if we act as individuals, it’ll be too little; but if we act as communities, maybe it’ll be enough’

Penny Skerret of Transition City Manchester is similarly honest, admitting that ‘from my experience, Transition is still a white, middle-class movement.’ She acknowledges that, especially in cities, Transition groups can be dominated by well-meaning people from affluent, ‘alternative’ suburbs who talk about community, but have no understanding of the strength, cohesiveness and depth of knowledge that may exist in inner city ‘no-go’ areas close by.

‘I visited a school in Miles Platting, a very marginalised area of Manchester, where an artist is making a garden in the school playground,’ describes Skerrett. ‘One of the things that’s emerged there is that there are lots of people who are asylum seekers and refugees from parts of the world where climate change is happening now, who have experience of extreme weather and famine. Their stories create real meaning for the children in the school about what climate change is. That’s a really important way of making connections between Manchester and what’s happening on the news.’

Do it yourself

Anyone can set up a transition initiative in their neighbourhood, town or city. In some cities, such as Manchester, a core group has formed and worked quietly on building itself up before interacting with other groups or holding public meetings. Other cities, like Liverpool, have tried to overcome their fear of being a ‘talking shop’ by adopting a more open approach, starting projects such as community allotments at an early stage.

Initiatives are asked to contact the central Transition Network Ltd (TNL) at the ‘mulling’ stage. TNL is itself a charity, set up to ‘inspire, encourage, network, support and train’. To call themselves an ‘official transition town’ as listed on the network website, initiatives must fulfill criteria ranging from demonstrating understanding of peak oil and climate change, to communicating with other transition bodies and local authorities and organisations, to training members of the core team.

Individual transition initiatives take various forms. In smaller towns, a single core group with themed sub-groups dealing with issues such as food, energy or transport can work. But transition cities have struggled with this model, finding the city too large a unit to maintain regular meetings or a sense of united community.

Transition Nottingham and Bristol have successfully used a central ‘hub’ to provide co-ordination, training and publicity and work on city-wide problems such as transport, while smaller groups in neighbourhoods such as Montpelier in Bristol or West Bridgford in Nottingham deal with local issues.

Another challenge of which participants at the Manchester event in October 2009 seemed aware was the danger of Transition being seen as a brand seeking to stamp itself on existing sustainability initiatives and trying to colonise other groups’ work.

As Manchester’s Penny Skerrett puts it, ‘I always go back to permaculture, in that biodiversity is the most important thing. In somewhere like Manchester the more groups there are across the city, the more healthy the city will be. So the idea of Transition coming in and trying to turn that into some kind of monoculture is just not going to work. There’s no reason for it and it will get people’s backs up.’

Supping with the devil?

One of Rob Hopkins’ ‘12 steps to Transition’ is ‘building a bridge to local government’. Environmental initiatives across the UK have an uneven history of relationships with local and national government, peppered with betrayal and mistrust.

At Manchester’s Transition in the City discussion, attitudes varied between wary optimism from some Mancunians, given (Labour) Manchester City Council’s willingness to listen during the climate change action plan process (see box on opposite page), and the despair of Liverpool activists at their (Liberal Democrat) council’s announcement that it was spending £300,000 taking Liverpool to the Shanghai World Expo but sending no one to the climate summit in Copenhagen.

Transition towns vary in their relationship to the local state. One woman involved in a transition initiative in the north of England seethed as she described ‘wasting ten years of her life working with New Deal for Communities’.

But Caroline Downey, director of the Bridge 5 Mill environment and community centre in a marginalised area of Manchester, pointed out that much of the renovation done there in the late 1990s was carried out by New Deal trainees. While the founders had been sceptical about government unemployment schemes, New Deal had given the fledgling centre a paid workforce and provided the trainees with a more rewarding and varied training experience than they might have found at more conventional employers. 

‘Sometimes it is possible, if you’re careful, to use government and local authority agendas to your advantage,’ says Downey.

The diversity of transition initiatives means that there is no hard and fast rule for relationships with local government. Some have good personal connections or positive local authorities. Others, such as Brighton and Bristol, towns with existing, highlyvocal campaigning communities, have a reputation for more oppositional relations. Yet even Bristol Transition neighbourhoods have helped to win public funding for specific projects, such as work on Montpelier Park.

‘The issue is how close your relationship is,’ said a transition activist from the south west of England. ‘It’s great to get one-off funding, but it gets dangerous if you have core funding from councils. That can taste too much like co-option or dependency.’

The transition initiative in Lewes, along with those in Totnes and London’s Brixton, has launched its own currency to encourage local economies to thrive.

True transition?

There’s no doubt that the Transition model addresses some of the long-running criticisms of environmental movements, combining awareness about the wider fate of the planet with a focus on the human impacts of climate change and peak oil. This is not landscape conservation – it’s a basic survival agenda.

Despite its more holistic ideas, the question is whether the Transition movement has the ability to rise to the massive challenge it sets itself. And the jury must still be out on this. Transition’s rhetoric – of community, self-sufficiency, relevance to the elderly and to minorities as well as the white, middle-class ‘concerned’ – is spot on. But to be genuinely inclusive, many of the people who currently run transition initiatives need to take long, hard and possibly uncomfortable looks at how they work and how that might need changing. Transition’s decentralised model makes it open to any community, but it also means that anyone – however (un)qualified and (un)committed – can claim their local transition town title.

On a wider scale, Transition is also open to the criticisms levelled against ethical consumerism, green living and other ‘lifestyle’ movements. By concentrating on the level of individual change, they don’t necessarily address the bigger structural challenges of political expediency, corporate power and economic inequality, which may let small-scale agendas effect change so far, but no further.

In practice, most ‘transitioners’ are individually aware of the need to lobby, campaign or take direct action alongside their personal or community efforts, and they may promote these alongside transition activities. On the other hand, Transition’s relentless positivity, working with the things people have in common rather than on a more oppositional stage, may count it out of very necessary struggles.

At the moment, the Transition model holds immense promise for environmental and social change. But it remains to be seen whether its adherents have the strength to take it from a minority lifestyle choice to the much bigger force for democratic grassroots change that it could be.

Published Dec 15 2009 by Red Pepper

It's energy saving week!

Monday, October 19th, 2009

Find out what we’re up to and how we can help you stop wasting energy… What’s happening this energy saving week.


This year’s theme is waste and we’re helping people across the UK, stop wasting their time, money and energy. Short on time? Check out some quick and easy ways to stop wasting energy with our Energy Saving Clock. Some ideas only take one minute!  Try the energy saving clock.

Real families waste habits revealed.  Look out for our undercover reporter videos, where children from across the UK secretly film their family’s wasteful home habits and find out what simple actions they can take to stop wasting energy.  See what they discovered.


Dave’s tips of the month.  As the days get colder it’s important we know how to keep our homes cosy and warm without spending a fortune. Read Dave’s top tips for getting your home ready for winter and make it a green Halloween too!  Get your home ready for winterMake it a green halloween.


Smart meters for everyone.  Did you know all houses are on track to have Smart Meters by 2020? The new meters will mean an end to estimated bills and having to wait at home for readings and could save you money on your bills too.  Find out why smart meters are such a good idea.


Save energy as a community.  You don’t have to go your energy saving journey alone. Hundreds of communities across the country are coming together and running their own projects – from energy awareness days to renewable energy installations. If you’re a part of a community group and would like to set up your own project, the Green Communities program can help you.  Find out more by clicking here.

An even bigger splash!

Monday, October 19th, 2009

 


Co-operative and Community Finance is pleased to announce it has approved a loan to the award-winning Chipping Norton Lido, which will cover the costs of making the pool more energy efficient. The outdoor pool which has become famous for immersing upmarket cars is currently undergoing large scale work to replace its gas boiler with a ground source heating system and associated photo-voltaic solar panels.


Claire Jarvis, one of the trustees of Chipping Norton Lido, said: “The whole team at the Lido are delighted with the loan from Co-operative and Community Finance.  We have been awarded a grant to cover the cost of the work, which we will use to pay off the loan once the project is completed.  Co-operative and Community Finance has given us the opportunity to begin the project immediately, and we are looking forward to getting it underway.  The new system will save the Lido a considerable amount of money per annum as it will be more cost effective and environmentally friendly, and we are hoping that the new constant temperature of 27 degrees will encourage more visitors on colder days.”

The Lido was first opened in 1970 after the local community raised funds for a community outdoor swimming pool and since then, the community has campaigned hard to keep the Lido open for business. Today, it relies on a team of dedicated volunteers who contribute to the running of the outdoor pool and plan fundraising events to ensure the Lido can afford to remain open. 


Clare Jarvis, who also works for the Phone Co-op, the multi-awarding winning co-operative based in Chipping Norton, continued: “The local community holds a series of events during the year including a sponsored swim, quiz night and fun run, which raise money to ensure the day to day running of the pool and also any projects we are working on.  We have been lucky to have regular support from celebrities such as Sharon Davies, Patrick Stewart, Sir Ben Kingsley, David Cameron and local celebrity Jeremy Clarkson, who hosts our Auction of Promises and made headlines in 2005 by driving a Rolls Royce into the lido for BBC’s Top Gear.”


The Lido provides the people of Chipping Norton with a small haven, where they can go for an outdoor swim, relax in the café or picnic on the large lawn.  It offers free events including a ‘Dip n Chill’ evening for 11-18 year olds and keep fit classes for Over-60s.  The Lido can also be hired for corporate events or parties. Over the last couple of years Chipping Norton Lido has won a Community Award from the Amateur Swimming Association and was also the winner of the charities & community award (Oxfordshire Business Awards) and West Oxfordshire District Council’s Chairman’s Award for Achievement.


Ian Rothwell at Co-operative and Community Finance said: “The Lido at Chipping Norton is very special and we immediately saw the value it offers to its local community and surrounding area.  It is a place where families and friends can spend quality time together while keeping fit and having fun, and of course it attracts tourists to the area which ultimately supports the local businesses.  The money we have loaned will be put towards a worthwhile project that, once finished, will save the Lido around £7,000 each year.  We hope that this saving will allow the Lido to continue to offer its leisure services for many years to come.”

Tackling global climate change at community level

Wednesday, October 7th, 2009


 


Tuesday 13th October 5.30-7.30pm St. Wilfred’s Enterprise Centre, Royce Road, Hulme, Manchester


Following a week of important demonstrations in over 100 cities worldwide for Global Climate Action Week, Action for Sustainable Living* (AfSL) has so far recruited 24 local volunteers from across the city to become climate change pioneers in their community, but we are still on the lookout for more! If you want to make a difference in your area but aren’t sure where to begin then come along to an informal induction evening at AfSL’s offices in Hulme on 13th October and find out what voluntary position would best suit you.

AfSL are looking for eco warriors from across the city who can spare some time to help get our exciting sustainable community projects off the ground and generally complement the volunteers who are already working throughout Manchester and Trafford. We are particularly keen to hear from you if you live in Bradford, Gorton North, Ancoats, Clayton, Stretford or Sale.


We want local people who are passionate about making their communities better places in which to live to help us set up and run these unique projects which have so far included community allotments, fair trade societies, energy action teams, composting schemes, local shop campaigns and a whole range of interesting, locally-relevant things.


You don’t need any previous experience and there’s a lot you can get out of it. Volunteering with AfSL is a great way to meet new people, gain invaluable work experience with a local award winning charity, have fun, and most importantly, you’ll be able to see that you’ve made a real difference in your local area.


Action for Sustainable Living supports individuals and their communities to make a difference. We believe that small steps lead to big changes.


“I’m really excited about starting this unique opportunity to make a genuine hands-on difference in my community and help Action for Sustainable Living to inspire even more people to enjoy a sustainable way of life” said Ali Thomas, new AfSL volunteer in Chorlton.


For more information or to book you place on the induction please e-mail volunteers@afsl.org.uk or call 0161 2270377. Further information is available on the AfSL website  http://www.afsl.org.uk/

Social enterprise leader named Chief Executive Designate of the Social Enterprise Coalition

Wednesday, September 23rd, 2009

The Social Enterprise Coalition (SEC)
announced today that Peter Holbrook will become its new chief executive officer
following the departure of Jonathan Bland in the New Year.  Peter is
currently the CEO of Sunlight Development Trust in Gillingham, Kent, as well as
one of England’s Social Enterprise Ambassadors.

Claire Dove, the chair of SEC, announced
his appointment by saying: “Peter is one of the most innovative leaders
working in social enterprise today. He brings with him the right experience and
an enormous amount of passion. Peter’s entrepreneurial abilities, the
pioneering work he has done at Sunlight and his commitment to social enterprise
make him the right person for the job. On behalf of the SEC board and staff, I
am absolutely delighted to welcome him to the Coalition.”

Holbrook said: “Politically and
economically, social enterprise is set to be tested like never before. But
alongside the undoubted challenges that face the sector, we have a unique
opportunity to promote an economic model that can change not only the way we do
business but also society at large.

“I’m honoured to lead SEC
during this period of change, which would be daunting were it not for
Jonathan’s inspiring legacy and the incredible team I’ll be proud
to be working with.”

Jonathan Bland will continue full time as
CEO until 31 October and after that will provide interim support until Holbrook
starts in the New Year.

Bland has been CEO of the Coalition since
its inception six years ago and is leaving in order to start an international
consultancy on social enterprise. He said: “I couldn’t be more
pleased to be passing along the reigns to Peter. I am confident that his vision
and passion will take the Coalition into a new and exciting phase.” 

Sunlight is one of the UK’s most
dynamic and successful social enterprises and works to tackle long-standing health
and social inequalities in the community.  It
was the
winner of the 2004 Community Regeneration Awards (BURA), was given special
recognition by the former Office of the Deputy Prime Minister in 2005 and was
highly commended by the Centre for Social Justice in 2007. In 2008 Sunlight
Social Enterprises CIC, home of cafesunlight, parentis, radio sunlight and
sunlight studios, was awarded Best New Social Enterprise at the Enterprising
Solutions Awards.

There are
approximately 62,000 social enterprises in the UK with a combined turnover of
£27billion. They operate in almost every sector including health, employment,
education, retail, technology, renewable energy and the arts.

The Social Enterprise Coalition is the
UK’s national body for social enterprise and represents a wide range of
social enterprises, regional and national support networks and other related
organisations. The Coalition key activities are centred around informing the policy agenda, influencing the political
agenda, promoting the benefits of social enterprise through the media, campaigning and events, and undertaking research to expand the social enterprise
evidence base.

Bristol Credit Union welcomes capital loan

Thursday, September 17th, 2009

Bristol Credit Union
is well equipped to take advantage of the expected changes in credit union
legislation thanks to a subordinated loan from The Co-operative Loan Fund.

The Legislative Reform Order due to
be laid before Parliament in October will give credit unions the flexibility to
accept local community groups, companies and social enterprises into membership
and to extend membership to new groups of people, such as housing association
tenants and employees of nationwide companies. This will allow large numbers of
people to benefit from credit union services for the first time.

Bristol Credit Union is using the
loan from The Co-operative Loan Fund as resource capital that will be used to provide
members with greater lending opportunities and investment capital over the
coming years. The loan is the final part of The Co-operative Loan Fund’s
2004 initiative, in which over £200,000 was allocated to help support credit
unions in the UK.

Bristol Credit Union was developed in
2005 and 2006 through a partnership of smaller community credit unions, and it
is now proud to offer financial support to the city of Bristol and its surrounding area. The members
of the credit union share a common bond of living in and around Bristol and this
has resulted in the city becoming more inclusive, and benefitting from greater
economic activity and a lower risk of financial exclusion. There are now over 4,500
members in Bristol Credit Union, plus local organisations, landlords and advice
agencies who work alongside the credit union to benefit its savers and
borrowers.

In addition to the wide range of
savings accounts on offer, Bristol Credit Union also welcomes loan applications
from its members, who are safe in the knowledge that by law, their interest
rates will be lower than two percent per month on the reducing balance of the
loan. It is credit union policy to meet the borrowing requirements of as many
members as possible, depending on the available funds, and the loan from The
Co-operative Loan Fund will ensure Bristol Credit Union have sufficient money
to meet the needs of its investors for the foreseeable future.

Speaking about the loan, Bristol
Credit Union Chief Executive James Berry said: “Bristol Credit Union is
delighted to receive this loan from The Co-operative Loan Fund, as it
represents a vote of confidence in us and our future development plans. The
loan enables us to maintain a comfortable capital to assets ratio through an
expected period of fast growth, and helps us to develop further services for
our members, many of whom are financially excluded. Bristol Credit Union has
over 4,500 members across Bristol,
working together for mutual financial benefit. By building a strong capital
base we can help members by encouraging further saving deposits, and
investigate mortgage lending too. It is great to work with an organisation that
understands credit unions and co-operatives.”

The loan is very unusual in the sense
that it is subordinated, which means that in the unfortunate event that credit
union suffers severe financial problems, The Co-operative Loan Fund ranks below
the credit union savers on the creditors list. In addition, the credit union
only needs to make interest-only payments for 10 years and then repay the lump
sum, which relieves a lot of pressure for Bristol Credit Union.

Ian Taylor
at The Co-operative Loan Fund added: “This is the third subordinated loan
we have made to credit unions, and in the current financial climate we believe
it has come at a crucial time. The money will be used to ensure Bristol Credit
Union can support its members and help them overcome the difficult financial
times ahead. We are pleased to be able to offer our support to an organisation
such as Bristol Credit Union, which puts its member’s interests first and
promotes a strong community ethos.”


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