QR 92 by Shared Interest

QUARTERLY RETURN 92 SUMMER 2014

REWARDS OF THE RAINFOREST

Strategic Plan: Progress Update

HARVESTING OPPORTUNITY IN BURKINA FASO

Brazil nuts at the heart of enterprise and ecology

Asking what, where and how should we finance?

Making the most of mangoes and cashews

page 06

page 08

page 10

Welcome Welcome to this summer issue of QR. I would like to take this opportunity to thank so many of you for responding to the Strategic Review questions posed in our spring issue. We benefit hugely from a consistently engaged and informed membership without which we would be much less able to identify and navigate the challenges ahead. Such an exercise of course puts future challenges centre stage, and I would like to draw your attention to our Strategic Review update on page 8. I am delighted to say that while we contemplate those matters fundamental to the Strategic Review, we are buoyed by unprecedented success in our daily business - both financial and reputational. We started 2014 with record numbers of enquiries and new investors, and as you will see, the future continues to look bright. We have now passed the £30 million investment mark, reached £1 million in 2014 investments, and seen many members taking the opportunity to top up their accounts thanks to a new £100,000 limit. We’ve also approved over £1 million in lending to businesses graduating from our sister charity’s training programme, ‘Access to Finance.’ All of this new investment takes us one more step towards our 25 year anniversary targets. We are excited about the year ahead and inspired by the knowledge that in 2015 we will get together with friends around the globe to celebrate the largest of milestones: quarter of a century investing in a fairer world. And of course, the reason we review our operations and celebrate our success is to provide fair finance to those who need it. We thank you for your continued investment, and in the following articles keep you in touch with the people and the projects that drew you to us in the first place. I hope you enjoy this issue.

Patricia Alexander, Managing Director

award

success

We are thrilled to be winners of a Guardian Sustainable Business Award 2014. We received our award, in the social impact - innovation category, at an awards ceremony in London in May. The Guardian judges admired that the Society is a mutual organisation rather than a commercially driven business, commenting: “Its name exactly expresses what it’s trying to achieve - and all this in a market with strong, dominant players.” We are also pleased to have been accredited with a Business in the Community Big Tick.

Sustainable Business Awards 2014 Winner

Our Big Tick was awarded as part of the Responsible Business Awards 2014, which are run by the charity Business in the Community. The Big Tick is the first level of accolade in the scheme, which recognises businesses making a positive difference to society and to the environment. We were also shortlisted in the regional rounds of the PWC Private Business Awards. Our sister charity, Shared Interest Foundation, was shortlisted in the Civil Society Charity Awards.

02 QR92

LAUNCH OF

Lenders’ council

CSAF

Shared Interest Society is a founding member of the Council on Smallholder Agricultural Finance (CSAF) which came into being in April 2014. The Council is focused on creating a financial market that serves the needs of small and growing agricultural businesses in low and middle income countries. The aim of the Council is to ensure a thriving, sustainable, and transparent market. An alliance of social lending institutions, the Council was formally launched at the 11th Skoll World Forum on Social Entrepreneurship. It will convene regularly to exchange learning, identify best practice, and develop industry standards. Extending financial markets to serve agricultural businesses in the ‘missing middle’ between microfinance and commercial lending helps support environmentally sustainable economic

Council on Smallholder Agricultural Finance

activity, feeding farm communities and the growing population that depends on them. Social lenders began addressing this underserved market in 1992, both to have an impact on the businesses they could reach directly and to demonstrate models that other financial institutions could replicate and scale. In 2013, disbursements by the seven founding members of CSAF totalled an estimated $362 million. By 2016, CSAF members expect collectively to lend $500 million a year to agricultural businesses in the ‘missing middle’ demonstrating their bankability to local banks and other financial institutions. The members of CSAF include Alterfin, Oikocredit, Rabobank’s Rabo Rural Fund, responsAbility Investments AG, Root Capital, Triodos Sustainable Trade Fund, and Shared Interest Society. For more information please visit www.csaf.net

GETTING TOGETHER IN GLASGOW As part of our World Fair Trade Day celebrations, we held a member event in Glasgow in May. We provided an update on recent activity, and were delighted to welcome Tracy Mitchell, Board Member of the Scottish Fairtrade Forum, as our guest speaker. There was a lively Q&A session touching upon fair trade current affairs. Members were interested in levels of public awareness of fair trade, the choice of commodities financed by Shared Interest Society, and how we address matters of member retention. Patricia Alexander, Managing Director, presented an update on the Strategic Review. Members took part in some fair trade product tasting and were able to buy products from a selection of stalls. Thanks to all of those who stayed for our Strategic Review workshops and provided valuable member input.

“Fair trade will always be at the heart of the Shared Interest society” Patricia Alexander, Managing Director

QR92 03

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To give you an idea of what this means: If 1 in 8 members encouraged a friend to invest we would reach our goal of 10,000 members. If every existing member invested another £271 we would reach our goal of £33 million. If every existing member invests £30 a month by standing order we will reach our goal of £33 million by the end of March 2015

33 Our goal for 2015

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31 30 29 28 27

Share Capital end of June 2014

HOW YOU CAN HELP: • Read ‘Your Share Account – Your Options’ opposite and review your own payment arrangements. • Ask a friend to ‘Be an Ethical Investor’ and to share in a fairer world. • You can pass on the postcards at the back of this issue. • Explain that with as little as £100, or as much as £100,000, it’s easy for anyone to open an ethical investment account. • Ask us to come and talk to your church, voluntary, or fair trade group, or to submit something for a newsletter.

FLYING THE FLAG: Our five anniversary flags are now with friends and colleagues in Peru, Costa Rica, Ghana, Kenya and here in the UK. Patricia Alexander, Managing Director, sent the flags on their way at our member event in Glasgow in May. They have already collected signatures and good wishes from members, partners, and customers around the world, but still have a long way to go on their journey back to the UK for 2015. You can follow the progress of the flags and towards our member and investment targets on our website and on Twitter @sharedinterest #followourflags #25years #25yearsofethicalinvestment

04 QR92

yOUR SHARE ACCOUNT YOUR OPTIONS

In April, the upper limit for member investment was raised to £100,000. Already members are taking the opportunity to take their Share Account investment over the previous £20,000 limit. We would like to remind members not only of the new upper limit, but of the various options for managing your Share Account. You can invest further by: Bank transfer: If you have an online banking facility with your own bank, then you can make one-off transfers to Shared Interest Society online. The details for the account into which your payment should be made are below. Please use your Share Account number, and if possible your name, as a reference. Standing order: If you would like to make a regular payment, you can set up a standing order with your bank. Again, you may be able to do this via an online banking facility. The details for the account into which your payment should be made are below. Please use your Share Account number, and if possible your name, as a reference. Or ask us to send you a pre-printed standing order form, which once completed tells your bank all they need to know to set up your regular payment.

cheque and take it to your bank. It also includes your Share Account number as a reference. Or ask us to send you a set of pre-printed bank giro credit slips. Cheque: You can send us a cheque by post made out to Shared Interest Society. Please include your Share Account number on the back. Please remember your Share Account is not a bank account. Member payments are paid into a Shared Interest Society bank account. Your Share Account number is an important reference which identifies your individual payments and investment. It should also be noted that you invest in Shared Interest Society at risk as the organisation is not a member of the financial services compensation scheme.

Bank giro credit: If you receive statements in the post, you will find a bank giro credit slip on the bottom of each statement. This is printed with details of the Shared Interest Society bank account into which your payment should be made, so you can simply attach this to a

Shared Interest Society bank details: Account number: 70062793

“Whatever the size of your investment, each member has an equal share and vote in our Society. Any amount, small or large, is an investment in a fairer world. Thank you for your continued support.”

Sort code: 08-90-06

Did you know? The amount you can invest with Shared Interest Society increased to £100,000 in April 2014

QR92 05

rEWARDS OF

tHE rAINFOREST For 15 years, Candela has used Shared Interest finance to sustain a precious relationship in the Peruvian Amazon. Castañeros are brazil nut gatherers, who live along the Madre de Dios River in the Peruvian rainforest. This area is known for having the greatest diversity of plant and animal species on earth. The government grants a 40 year concession to the castañeros, allowing them to farm the brazil nut trees in clearly defined locations. This secures an opportunity for them to make a living, as well as giving them a vested interest in managing and protecting the rainforest. Candela was established 25 years ago to help castañeros find markets for their brazil nut products. Export of brazil nut produce such as candles, chocolate, and oils, is the key to reaping tangible rewards from this harmonious relationship between people and planet. Candela participates in the whole process of production. Families collect nuts during the harvest period and Candela buys the raw and peeled material. The nuts are stored in their warehouse in the rainforest area. The nuts are processed in the plant in Puerto Maldonado then shipped to another plant in Lima, where the export quality checks take place and products such as powders and oils are produced for trade.

“We truly have a unique relationship between our Castañeros and the forest, And Shared Interest helps that relationship to flourish. The rights to harvest the nuts, the finance to pay the farmers, the expertise to create wonderful products, and the routes we now have to market. Every part of the process is crucial, and we depend on each other to keep this circle connected.” Francesca Minerva, Project Manager - Community Relations and Certifications, Candela able to begin sending their children to university, harnessing the power of the nut harvest for the whole community.

Candela looks after quality, market development, product development, staff, and all administrative and export operations. They provide pre-finance for their castañeros, which is borrowed from Shared Interest Society.

Candela is committed to working practices that promote biodiversity conservation, respect for traditional knowledge, and ensure equitable sharing of benefits in the value chain. Among Candela producers there are individuals families, as well as local producer organisations, such as Madre de Dios Indigenous Forestry Association, Organic Collectors of Amazon Nuts of Peru, and Association of Ecological Extractors in the Sabaluyoc Area. Candela is a founding member of the Union for Ethical Bio Trade and a member of the World Fair Trade Organisation.

Candela’s work to access international markets, obtain a good price, and ensure long term income security, has had significant impact on the quality of life of castañeros’ families. Producers have become more participative in the local area, and have been

Plans for the next two to three years include a new processing plant, as well as growth in local and international markets. We look forward to continuing our longstanding support for Candela, whose respect for one of nature’s simplest gifts holds the key to both enterprise and ecology; a truly sustainable business.

Brazil nuts are a wild product. The large pods, which contain 12 to 20 nuts, hang some 30 metres above the ground on trees that can be 200 years old. The castañeros collect them when they fall, from December to March. 06 QR92

•

Since 1989, Candela has been developing natural products from Peruvian Amazon resources, supporting sustainable development through Fair Trade and Biotrade.

•

Candela supports amazonian nut producers of the Region of Madre de Dios, known as the Peruvian “Capital of Biodiversity.” They seek to provide rural people with a living while helping to preserve the forest against the change of use of the rainforest land, such as “slash and burn” logging, farming and mining practices.

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Amazonian nut producers are trained on sustainable and legal use of forest resources, production quality, skills and leadership, and organic and fairtrade principles.

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Candela makes advance payments to producers, and implements producer support programmes, such as water and sanitation, reforestation and infrastructure projects.

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As a member of the World Fair Trade Organisation and the Union for Ethical Biotrade, Candela promotes a business model that contributes to social and environmental sustainability.

LEARNING FOR LENDING In QR91, we announced that the Access to Finance programme was reaping its first rewards in the shape of new applicants for Shared Interest Society funding. The Shared Interest Foundation programme helps businesses grow their capacity for accessing finance, including business planning and financial management training. The Society has now approved more than £1 million worth of lending to such businesses.

GROWING OLD IS TO GROW (GOIG) GOIG has been in operation for 23 years and has, over the years, attended many financial training workshops. They have a trained accountant, and were keeping financial records, but had never been confident enough to access a loan, and did not think their systems would be sufficient enough to satisfy a lender’s requirements. GOIG’s accountant attended an initial Access to Finance training session in Mbeya, and went back to the organisation with a report on areas for development.

They immediately began to put some of the things they had learned into place. They were then selected for mentoring; a truly unique opportunity for them. In their view, this has been the key to success. Working with their mentor, they updated their financial records system, and grew familiar with some entirely new concepts such as liquidity and efficiency ratios.

“The mentoring made a big difference; it made it possible for us to apply our learning within the context of our business. It has assisted us in many ways; how to manage our finances, how to keep our records, and has also made it easier for the auditors.” Misana Manyama, CEO, GOIG With a term loan from Shared Interest Society, GOIG has now bought six new sewing machines for heavy duty leather and canvas items, each machine supporting the employment of four new members of staff. In addition, with the capital to invest in raw materials, they are able to re-employ 18 weavers who had been sent home without work. They are also creating a new position for a cashier. We will continue to track the progress of GOIG and their development post training and mentoring, and to monitor the impact of this new opportunity, accessing ethical finance to achieve their goals.

QR92 07

SHARED INTEREST soc

• Environmental uncertainty (including climate change) is anticipated to put further strain on our ability to source adequate food to feed our growing populations. In February of this year the Society embarked on an ambitious process of strategic thinking to understand better the opportunities and challenges faced by its customers, the evolving provision of social finance, and how Shared Interest should position itself going forward. As part of the process we have consulted far and wide talking to fair trade producers and buyers; experts in the fields of social finance, climate change, development and ‘Futures’; and of course our volunteers and to you, our members, at events like the AGM in London and members’ events in Glasgow. We also would like to thank those 150 members who responded to our questions in the last issue of QR.

The research to date has identified a number of significant broader/global trends which Shared Interest’s new strategic direction needs to consider.

Time to manage or adapt to environmental issues

Hurricane Dean destroys entire banana crop

Disaster i

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lippines ods hit by flo

Agriculture high ly exposed to climate change

These include: • A shift in economic power from the West to East is likely to contribute to greater competition for resources. As a result commodity price volatility is likely. • The rise of a global middle class across the developing world will increase opportunities in local and regional markets. • Populations are expected to continue to age. Greater migration across countries and growing urbanisation are also likely to be strong themes. • The use of technology will continue to change the way in which people invest and borrow. 08 QR92

• It is estimated that social lenders currently meet less than 1% of the total demand for finance from smallholder producers*. Even this represents positive progress with a number of recent entrants, including commercial banks, entering the market (partly as a result of Shared Interest’s leadership). • While the demand for finance appears to dwarf the supply there is a realisation that many of those looking for finance do not have the capacity or risk profile to receive commercial finance.

ciety STRATEGIC PLAN: PROGRESS UPDATE Our assessment show that gaps in financial provision exist for organisations at different stages of development. These organisations need: • Early stage investment (for organisations not yet meeting certification standards or perhaps not serving export markets) or where no collateral is available; • Strategic investment (moving up the value chain, e.g. investment in processing etc.) • Investment in measures to reduce vulnerability to factors such as climate change (e.g. diversifying crops and markets).

Although the process is far from complete we are starting to see some emerging strategic themes for shared interest

Deepening Impact

Influencing Others

Shared Interest should seek to widen and deepen its support for fair trade and work more actively where other lenders fear to tread. This involves actively responding to challenges such as producers’ need to diversify (markets and products) and adapt to climate change and working pre-certification. It also involves working outside Fairtrade certified value chains where work is in partnership with groups who share our commitment to fair trade principles and our Vision and Values.

Shared Interest will aim to play a leadership role in the sector. Through demonstrating a different approach to providing finance, innovation and actively engaging other lenders, it will seek to encourage existing and new entrants to the sector to adopt more supportive and ‘fair’ lending practices. By doing so, Shared Interest Society will have impact, beyond its current direct lending.

Innovation Widening and deepening our commitment to fair trade is likely to require Shared Interest to be particularly innovative – in the development of new lending products but also to operate in markets adjacent to our current ones. Members at our Heart Members remain at the heart of Shared Interest Society. The forthcoming strategy will ensure that we continue to listen to existing members and also develop our ‘offer’ to be inspiring and relevant for future generations of Shared Interest investors.

Next Steps Although we are well on our way to formulating a five year strategy the next part of the journey will be crucial. In the next two months we will be developing these themes further with a series of staff-led projects. The results of these investigations will be assimilated into a draft plan for presentation to the staff and Council in the second half of July. A revised plan will then be submitted to the Board for their consideration in August. Your thoughts continue to be important to us. If you have any questions or views on the emerging themes please do contact us on 0191 2339102 or membership@shared-interest.com

*Dalberg 2012, Catalyzing Smallholder Agricultural Finance http://dalberg.com/documents/Catalyzing_Smallholder_Ag_Finance.pdf

QR92 09

HARVESTING OPPORTUNITY

IN bURKINA FASO

Burkina Faso is covered by a large mango orchard. The orchard is concentrated on the Hauts Bassins and Cascades regions, home to Shared Interest customer, Association TON (ATN). It is estimated that each year between March and August, these two regions produce more than 160,000 tonnes of mangoes. As much as 60% of this produce is lost in the fields, however, for want of means to conserve the fruit.

land, the ovens are outdated and inefficient, and the six month mango season prevents ATN employing its staff throughout the year. Three years ago, seeking out opportunity outside of the mango season, ATN began dealing in raw cashew nuts. But diversification in itself does not provide the answers. Cashew harvesting begins in February and dried mango is exported up until September, still leaving four months of the year without significant income generation or employment.

ATN was one of the first organisations in Burkina Faso to dry mangoes as a means of preservation, and of adding value to the product they send to market. Their drying unit in Niangoloko was established in 1998, seven years after they first brought together 35 local mango producers and set about forming a cooperative. Starting out with just one mango drying oven, they now have 15 ovens in operation. They have since obtained Fairtrade and organic certification, and have put their Fairtrade premium to use developing their mango drying unit and implementing numerous social projects in the local area. Despite constant adaptation, however, ATN still faces numerous challenges in its efforts to maximise on the mango harvest and to give job security to its employees. As well as the fight to preserve the full harvest before it is wasted on the 10 QR92

And so ATN approached Shared Interest Society. Further processing the cashews adds value to the raw material, increasing revenue, and creating job opportunities at the facilities beyond any limited harvest period. Plans for a new cashew processing unit, financed in part with a term loan, will help ATN to continue to adapt and grow, as it

Social projects making use of the Fairtrade premium include a classroom block at a local primary school, supplying teaching materials to two secondary schools, sponsorship of 150 children of employees, renovation of a hospital maternity hall, provision of medical supplies to two other hospitals, free mosquito nets for all employees and their extended families, and a rest room for nursing mothers on site.

has throughout its history. As part of this project, ATN has purchased a truck to help them to collect raw materials and make deliveries, and they are improving existing processing and storage facilities. They hope that these improvements will bring threefold increases in production, a 50% increase in profits, and a reduction in production losses of as much as 60%. ATN is a major seasonal employer of women in Niangoloko, and women represent 50% of the Executive Committee. Seasonal positions could potentially increase from 150 to 400, of which 90% would be filled by women. New ovens are now in place, and ATN hopes to push ahead with the rest of the planned developments soon.

It is no coincidence that ATN represents producers of Burkina Faso on the West Africa Fairtrade board, and has done for several years. Their insightful approach to their operations also extends to the welfare of staff and to pressing social and local concerns.

And they are involved in important partnerships with NGOs tackling child labour, HIV/AIDS, and child trafficking. ATN worked with Terre des Hommes Germany and are still working with Diakonia (Sweden) on a transitional shelter for trafficked children in Niangoloko, on the border of Côte d’Ivoire, where children are frequently sent to work in coffee and cocoa plantations. ATN shows no signs of resting on its laurels. They have ambitious plans to expand, increase their product range, and improve their environmental sustainability. Of course such plans are also matched with social aspirations; a nursery for staff and for the community, an ambulance for the local hospital, and a micro credit union for ATN members. Next time opportunity knocks at the door of ATN, we hope that ATN will come knocking at the door of Shared Interest.

“The cashew nut processing is vital to our future success. It’s personal, in the sense that we are a provider of jobs, of livelihoods, and this means the community can rely on us for regular income. But it’s also about our potential to be a sustainable and robust business. Finance from Shared Interest allows us to expand under our own direction and to take opportunities as they arise.” Toro Salifou, Account Manager, ATN.

QR92 11

Address:

My name:

no stamp needed

Tell me more about investing in a fairer world

Shared Interest FREEPOST NT1883 Newcastle upon Tyne NE1 1BR

Please pass on a postcard to a potential investor

BE AN INVESTOR: SHARE IN A FAIRER WORLD To celebrate 25 years we have set ourselves a goal to increase membership to 10,000 investors and to increase Share Capital to £33 million by 2015. In order to achieve this we need approximately 1,090 new members and £2.5 million in new investment. To give you an idea of what this means: If 1 in 8 members encouraged a friend to invest we would reach our goal of 10,000 members. If every existing member invested another £271 we would reach our goal of £33 million.

Postcode: Email: Telephone:

no stamp needed

Call 0191 233 9102 or visit www.shared-interest.com

Gourmet Gardens The rain forest surrounding Gourmet Gardens provides the ideal climate to produce organic and Fairtrade vanilla and cocoa with a highly distinctive aroma. Shared Interest provides Gourmet Gardens with a credit facility to manage cash flow during harvesting and processing season. In the case of vanilla it can often take up to 12 months from harvest to sale. Shared Interest helps fill this gap thanks to its investors.

25 YEARS OF ETHICAL INVESTMENT

Address:

My name:

Tell me more about investing in a fairer world

Shared Interest FREEPOST NT1883 Newcastle upon Tyne NE1 1BR

Please pass on a postcard to a potential investor

Postcode: Email: Telephone:

Call 0191 233 9102 or visit www.shared-interest.com

Andean Naturals buys quinoa from small farms in the mountains of Bolivia and Peru and distributes it throughout North America. The organisation uses a Shared Interest credit facility to offer the 4,000 farmers involved pre-harvest payments. This means that thanks to Shared Interest investors, they can receive payment for their produce before the quinoa is sold.

25 YEARS OF ETHICAL INVESTMENT

Address:

My name:

no stamp needed

Tell me more about investing in a fairer world

Shared Interest FREEPOST NT1883 Newcastle upon Tyne NE1 1BR

Please pass on a postcard to a potential investor

BE AN INVESTOR: SHARE IN A FAIRER WORLD

To celebrate 25 years we have set ourselves a goal to increase membership to 10,000 investors and to increase Share Capital to £33 million by 2015. In order to achieve this we need approximately 1,090 new members and £2.5 million in new investment. To give you an idea of what this means:

If 1 in 8 members encouraged a friend to invest we would reach our goal of 10,000 members.

If every existing member invested another £271 we would reach our goal of £33 million.

Postcode:

Email:

Telephone:

no stamp needed

Call 0191 233 9102 or visit www.shared-interest.com

Raymisa in Peru produces and exports of high-quality crafts. They help producers find access to market. Their vision encompasses social responsibility, environmental awareness, and economic development. Shared Interest provides Raymisa with a credit facility to pre-finance contracts. They also have a term loan which is used for the purchase of washing and filtering machines to improve the alpaca thread production.

25 YEARS OF ETHICAL INVESTMENT

Please pass on a postcard to a potential investor

BE AN INVESTOR: SHARE IN A FAIRER WORLD

Shared Interest FREEPOST NT1883 Newcastle upon Tyne NE1 1BR

My name:

Tell me more about investing in a fairer world

Address:

Postcode:

Email:

Telephone:

Call 0191 233 9102 or visit www.shared-interest.com

If 1 in 8 members encouraged a friend to invest we would reach our goal of 10,000 members.

If every existing member invested another £271 we would reach our goal of £33 million.

Mpanga If you buy Cafédirect’s One Cup tea, it is highly likely that you have already enjoyed the taste of Mpanga Fairtrade tea. Mpanga Growers Tea Factory Ltd is owned entirely by smallholder farmers. Their first Shared Interest loan helped the cooperative to purchase the Kasunga tea estate. More recently, a loan has funded fertiliser vital to their productivity.

25 YEARS OF ETHICAL INVESTMENT

BE AN ETHICAL INVESTOR

SHARE IN A FAIRER WORLD

HELP US FIND 1,090 NEW INVESTORS

HELP US RAISE £2.5 MILLION IN NEW INVESTMENTS

OPEN AN ETHICAL INVESTMENT ACCOUNT WITH AS LITTLE AS £100

25 YEARS OF ETHICAL INVESTMENT

BE AN ETHICAL INVESTOR

HELP US RAISE £2.5 MILLION IN NEW INVESTMENTS

HELP US FIND 1,090 NEW INVESTORS

OPEN AN ETHICAL INVESTMENT ACCOUNT WITH AS LITTLE AS £100

25 YEARS OF ETHICAL INVESTMENT

SHARE IN A FAIRER WORLD

ELECTION OF COUNCIL MEMBER

aMBASSADOR HIGHLIGHTS

Council – a voice for members in the governance of Shared Interest Society. In accordance with the Society’s rules one non-random member of Council retires each year on the basis of rotation and we are holding elections for a member to sit on Council from March 2015. The maximum term of service is six years. If you would like to contribute to the Society’s governance by being on Council, then you are invited to put yourself forward for election. Council meets three times a year in Newcastle and its members attend the AGM. In addition, between formal meetings, members on occasion conduct discussions by email on topics under review by Council. Requests for more information should be sent to Tim Morgan, Company Secretary, at the Society’s office or by e-mail to: tim.morgan@shared-interest.com The Moderators of Council will be happy to discuss Council membership with candidates. Email us: sicouncil@shared-interest.com The closing date for applications is Sunday 14 September 2014

Ambassadors Richard Walker, Ben Quashie, and Mary Willcox at our AGM in London.

In the last 9 months, our team has achieved the following: •

50% response rate to our volunteer survey 2014

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Training for 5 new Ambassadors

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Ambassador attendance at 47 events

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226 volunteer hours

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An Ambassador forum on Skype with 13 members and 5 meetings to date

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Volunteers Week certificates to all Ambassadors

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Ambassador Twitter account

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Lunch with Namayiana representatives during their visit to the UK

events *Scotland Fairtrade Campaigners Day 6 September, Edinburgh *South West Fairtrade Day 13 September, Truro *London Fairtrade Day 17 September, London *North Fairtrade Day 17 September, Sunderland Wylam & District Churches Harvest Festival 18 September, Wylam, Northumberland

LABL Fair 4 October, Edinburgh

*East of England Fairtrade Day 18 October, Luton

Wales Fair Trade Fair 4 October, Brecon

One World Week Fair 25 October, Milton Keynes

Wales Fair Trade Fair 5 October, Abergavenny *North West Fairtrade Day 11 October, UCLAN Make Your Money Count 18 October, Bristol

Please check our website for further information on these events, visit: www.shared-interest.com/events

*These are Fairtrade Foundation National Campaigner Committee network conferences. For info visit www.fairtrade.co.uk

Quarterly Return is the newsletter of Shared Interest Society.

Shared Interest Society

Shared Interest Society Ltd is a fair trade lending organisation which is a member of Co-operatives UK. It uses the pooled investments of its members in the UK to effect real and lasting improvements to people’s lives in the developing world.

2 Cathedral Square Groat Market Newcastle upon Tyne NE1 1EH 0191 233 9102

@SharedInterest membership@shared-interest.com www.shared-interest.com

Shared Interest Society Ltd is registered with the Registrar of Friendly Societies, number 27093R. The Directors decide on what the interest rate payable to members will be. From 1 October 2011 the interest rate has been 0.5%.

QR is printed on paper from sustainable, well managed sources certified by the Forest Stewardship Council.