Ground-breaking report shines a light on Central England Co-operative’s community impact
Posted by nathan lloyd | Published: 15/12/2016
Central England Co-operative today unveils the findings of a ground-breaking report commissioned to highlight the positive impact on the communities it serves.
The Society is the first Co-operative of its type to publish a Social Return on Investment (SROI) report, which takes an in-depth look at the impact of its community work.
The project, which was undertaken by SROI specialist ‘Make a Difference CIC, focused on the social value and return provided by the Society’s Community Dividend Fund, award-winning SENse to Aspire scheme and local activities organised for members.
The results showcased that for every £1 that the Society invests in community projects, the monetary value of the impact made by these good causes is on average worth a massive £20.50.
The findings from the report will now be used to play a major part in shaping the future of the Society.
Chief Executive of Central England Co-operative Martyn Cheatle said: “We took the decision to undertake this new form of robust analysis of our community impact in order to inform future decision making and ensure that we continue to make a real difference to people’s lives.
“The success of our community initiatives as demonstrated in our SROI report is only possible due to the continued success of our trading businesses.
“The ability to continue with this investment is fuelled by the Society’s strong financial performance and long term strategy to deliver future business growth in a sustainable way.”
The results will now be used to help make effective, data driven decisions, to ensure relevant community impact will involve making the best use of the resources available, and to look at what possible social value could be achieved through new, innovative projects.
It has also identified areas and activities that deliver greater return and where Central England Co-operative should focus more energy.
The report findings highlighted the positive impact that volunteering and other non-financial activities can have on the wider community.
Central England Co-operative was named Leading Co-operative of the Year earlier this year and the Society was also the first retailer worldwide to be awarded all four
Carbon Trust standards.
A total of £1,191,000 was invested into community causes, charity and supporting co-operatives during 2015/16 by the Society.
When coupled with investments made during 2014/15, it has supported the communities it serves to the tune of almost £2.5 million.
Notes to editors
Background information:
The Community Dividend Fund is a grant that members can apply for on behalf of community groups, schools and charities.
People can ask for anything from £100 to £5,000 and the fund comes from 1% of Central England Co-operative’s trading profit. Over £2million has been handed out across 16 counties since its inception in 2007.
The Society’s SENse to Aspire scheme aims to make a difference to young people with special educational needs through education and work experience, while members groups take place across the Society’s trading area and include everything from keep fit to amateur dramatics.
About Central England Co-operative
Central England Co-operative is one of the largest independent retail co-operative societies in the UK. It is a modern, forward-looking organisation employing over 8,000 staff, with projected gross sales of £958million for 2016/17. The Society recently celebrated being named Leading Co-operative of the Year 2016 by Co-operatives UK. The Society’s principal areas of activity are food, funeral services, and property. Central England Co-operative has more than 430 trading outlets across 16 counties including; West Midlands, Warwickshire, Worcestershire, Staffordshire, Derbyshire, Leicestershire, Rutland, Nottinghamshire, Northamptonshire, Lincolnshire, West Yorkshire, South Yorkshire, Suffolk, Norfolk, Bedfordshire and Cambridgeshire. The Society has an ambitious food store development programme for 2016/17.
Central England Co-operative is proud of its reputation for ethical business practices and corporate responsibility. It is a member of Business in the Community, the membership organisation that stands for responsible business, and has also won many business awards for excellence. The Society supports a number of charities including Newlife Foundation for Disabled Children and invests a percentage of its trading profit into local communities.
For more information visit www.centralengland.coop, follow Central England Co-operative on Twitter: @mycoopfood, and on Facebook: facebook.com/centralenglandcooperative
Rob Smyth – PR officer - Central England Co-operative - 01543 414140
Email – publicrelations@centralengland.coop