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The International Summit of Co-operatives is a biennial gathering where leaders of cooperative and mutualist enterprises get together to discuss their concerns about the current and future business challenges they all share.
The next summit is being held in Quebec City from October 6-9th & Mutuo will be taking part.
This week’s news about the former Chair of The Co-operative Bank has shone a spotlight on the leadership of mutual organisations. But much of the comment has conflated the personal antics of one individual with a wider failure in mutual governance.Read More
By their very nature, mutuals are limited in how they can raise capital. Like all businesses, they can retain profits and can borrow against future earnings, but they have no equity shareholders and so do not have access to this type of prime capital.
These restrictions are well known and mean that the debate around capital in mutuals is not new. To date however, in the UK at least, mutuals have not made significant alterations to their basic capital framework, which was designed more than 150 years ago.
Tragedy. Disaster. Just two words that have been used to describe the recent events at the Co-operative Bank. Whilst the Treasury Select Committee continues its questioning of the Verde deal and the Kelly Inquiry deliberates on wider issues, the Bank’s ownership is changing, probably irrevocably.Read More