Dormant share accounts used to support Co op community fund

ETHICAL retailer The Midcounties Co-operative has launched a new £2m fund to support voluntary groups working to improve their communities.

The Midcounties Co-operative Community Fund has been created from dormant share accounts, together with Government match funding.

In the first round of grants, £120,000 will be distributed between 114 groups in the society’s trading heartland.

The fund will make grants twice a year – in spring and autumn. It is working in partnership with nine Community Foundations covering the areas where Midcounties trades – Birmingham, the Black Country, Staffordshire, Shropshire, Worcestershire, Gloucestershire, Swindon, Oxfordshire, Buckinghamshire and Northamptonshire.

To apply for funding the applicant must be a member of The Midcounties Co-operative and grants of up to £2,000 are available to community organisations which meet the criteria.

Maxine Sharman, community manager said: “We believe we are the first co-operative to distribute dormant member funds in this way. Giving back to the communities where we trade is important to us. We want to be judged not only on the success of our businesses but also on how effectively we put our co-operative values and principles into practice.

“In the current climate especially this money will be of real benefit to groups who understand and are working to meet local community needs.”

Midcounties chose the Birmingham and Black Country Community Foundation to manage the fund given its knowledge and expertise in managing funds, grant making and understanding local community needs. The foundation is an independent charity that has awarded millions of pounds to hundreds of community and volunteer groups across Birmingham and Black Country.

Zoe Keens, the foundation’s director of development, said: “The fund will make a real difference to community groups at grass roots level, not to mention adding to the work we are doing to create sustainability for future communities in order to help local people find local solutions to local needs.”