The Tamworth Co-operative Society has always provided some financial support to local organisations and charities within its trading area.
The directors have announced that for the eighth year running the Society will operate a Community Dividend Scheme that enables local organisations to benefit from their local store.
Choosing the Organisation to be Adopted in your store.
- Each store will adopt one organisation to receive the benefits in each trading year (Feb – Jan).
- Between 10th October and 28th November 2016 customers will be able to nominate their organisation.
- Customers can only vote once and only at one location (multiple voting by a customer will results in all votes cast by that customer being void).
Who is Eligible for Nomination?
- We are looking for something that is meaningful to a local community e.g. a play group or school, local club for the elderly or special interest group. The Society will not support any of the big national charities for example Cancer Research, British Heart Foundation, and the Stroke Association etc in respect of this initiative. Organisations must be “not for profit groups.”
- Each Store will adopt a different organisation.
- To be considered for nomination, the organisation MUST be local to the store.
- Organisations that currently benefit from dividend payments as a result of having their own share number will not be eligible for this scheme.
- The Directors reserve the right to disqualify any organisation that is deemed to be inappropriate to the ethos of the Society or against the spirit of the process. The Directors may contact a representative of any of the nominated organisations to clarify its aims and objectives. The Directors will confirm the organisation chosen for each relevant branch.
When will we announce the result?
- The successful organisation will be publicised in store in 2017. The Society dividend year runs from Sunday 29th January 2017 until 27th January 2018. Payments from the Community Dividend Scheme will be made in the early part of 2018.
How will the nominated organisation generate benefits?
- Members who normally earn dividends can elect to have those purchases allocated to the adopted organisation. However, they will not be eligible for dividend on those purchases in their own right.
- Non members can elect to have their purchases allocated to the adopted organisation.
- Where appropriate the adopted organisation will be encouraged to work with the local staff and their local community in order to generate additional awareness and revenue for their organisation.
- At the end of the Financial year the Directors will declare a scheme dividend based on a percentage of sales achieved, this will be allocated to stores (organisations) pro rate to sales recorded at that store.
Please note that whilst consideration will be given to the total number of nominations an organisation receives, preference may be given to organisations that have not previously been selected as Community Dividend Groups.
The Directors are seeking to maintain a scheme that is not excessively burdened with rules and regulations. As a result the Directors of Tamworth Co-operative Society reserve the right to make any decision appropriate to ensure the process in not compromised.