QUARTERLY RETURN 96 Summer 2015
COCOA AND THREATS FACING THE INDUSTRY
ENTERING NEW MARKETS WITH NEW PRODUCTS
HARVESTING DREAMS OF A FRUITFUL TOMORROW
90% of the world’s cocoa is grown on small farms that face increasing challenges.
A Fairtrade walnut producer is helping Shared Interest reach producers in Kyrgyzstan.
Connecting producers and buyers from Burkina Faso and the UK.
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Welcome Welcome to our summer issue of QR. I would like to take this opportunity to extend a warm welcome to our new Chair Mary Coyle. Thank you to everyone who voted. We are seeking your opinions again this quarter. You will find enclosed with this QR your members’ survey. This information is really important to us as it helps improve the service we provide as well as identifying ways to attract new investors. We would love to hear your views and really appreciate you taking the time to complete the survey. Many of you in the Bristol area enjoyed sharing your thoughts on a variety of topics at our World Fair Trade day event. Read more about the day on the opposite page.
As you know, we are always looking at ways of diversifying our lending portfolio in terms of fair trade products and regions. For this reason, we are thrilled to be working with a Fairtrade walnut producer for the first time. Vega Plus is based in Central Asia, and it is also the first time we have provided a lending facility in this part of the world. You can read more on page 5. Here in the UK, we have begun lending to Koolskools, an ethical school clothing company, you can read more about them on page 10. As a result of continued demand for our services, we are strengthening our lending team. Details of these developments can be found on page 11. We hope you enjoy this summer issue of QR and look forward to bringing you more news of how your investment is changing lives. If you have an interest in a particular fair trade product or producer, or area of the world, please do let us know so we can tell you more about them in future issues of QR.
Patricia Alexander, Managing Director
Unidentified funds from war bond We are looking to unite some unidentified funds with a member. The money was paid into Shared Interest as proceeds from a War Bond. More than 120,000 people held such a bond during the First World War, issued in 1917 under the slogan “unlike the soldier, the investor runs no risk”. The Treasury redeemed the war loan bond in March this year and has paid interest on the original investment, requested as part of a government effort to raise money for the continuing cost of the war. If you think these funds could belong to you, please get in touch with our membership team on 0191 233 9102 or membership@shared-interest.com. In addition to this we have a regular standing order we cannot identify. This is paid from a Co-operative bank account each month, and started on 2 January 2015. For identification purposes, when making payments into your Share Account, please remember to use your Shared Interest Account Number. You will find this number at the top of your statement, or on the Secure Area if you have online access. It is ten digits long and begins with 10. Please contact our membership team using the details above if you need any help locating your account number. If this latest example doesn’t apply to you but you may have forgotten to use your account number in the past, please contact us using the details above.
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Front cover image: Customer, Association Ton, mango and cashew producers in Burkina Faso
World Fair Trade Day creates
Agent for Change
Our World Fair Trade Day event took place in Bristol this year, where we were joined by over 40 members from the area. Held at The Watershed, a former banana warehouse on Bristol’s Harbourside, the event followed this year’s theme ‘Agents for Change’. We were joined by Jenny Foster, Bristol and South West Fairtrade Coordinator, who spoke of the importance of partnerships and sustainability in the fair trade movement. Engagement Manager, Sally Reith said: “We had an energetic question and answer session covering topics from product diversification and climate change to the Fairtrade Towns movement.”
“There was a lot of enthusiasm from attendees to learn more about how they can support Shared Interest in bringing in new members.” Membership and Engagement Administrator, Alan Simmons-Graham said: “We also held a volunteering workshop in the afternoon and were pleased to welcome some new volunteers after the session.” If you are interested in finding out more about volunteering with us please email volunteers@shared-interest.com or contact Alan on 0191 233 9103. We are already planning two more events this year. The first will see us returning to Bristol for another event entitled, ‘Make Your Money Count’ on 16 October, marking Good Money Week. Working in partnership with Triodos Bank, Rathbone Greenbank Investments, and Bristol Fairtrade Network, this event brings together some of the UK’s key ethical investment organisations.
Jenny Forster, Bristol and South West Fairtrade Coordinator
Exploring key issues around how we use our money to its best advantage, the event is designed to give practical ideas on how to make your investment count. A further event is planned for the 23 October when we are delighted to have Ed Mayo of Co‑operatives UK joining us as guest speaker. We will be bringing you more details on future member events in October.
SAVE THE DATE Members Day Friday 23 October, Friends’ Meeting House, Manchester.
Share your views with us With your QR this month you will find enclosed our members’ survey. We carry out a members’ survey every two years, alternating this with our volunteers’ survey. We would love to hear your views about your experiences with Shared Interest and how we can improve our business to suit your needs. Please take some time to fill out the enclosed survey and return it to us by Friday 28 August. A summary of the survey results with be published in your next issue of QR and a more detailed overview will appear in next year’s Social Accounts.
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Thank
you!
VOLUNTEER CASE STUDY Stephen Hayes is 65 and lives with his wife and two children in Glasgow. Stephen is a Shared Interest Society investor and ambassador. Stephen was born and raised near Liverpool docks, this together with his father's tales of war service in Burma, made him aware of countries overseas with needs far different to our own.
Volunteers’ Week is an annual celebration of the fantastic contribution millions of volunteers make across the UK. This year it took place from the 1-7 June. Shared Interest joined the National Council for Voluntary Organisations (NCVO) to thank all ambassadors and volunteers for their hard work throughout the year. We are proud of our network of 83 volunteers across the UK; they all support the organisation in different ways. Some of our volunteers help at events or behind the scenes with administrative tasks. Others take on a more public role, and become ambassadors, promoting Shared Interest in their local community to attract new members. Our ambassadors have represented Shared Interest at over 100 events across the UK since October 2014, and collectively our volunteers have contributed over 415 hours of their time so far this year. If you are interested in hearing more about becoming a volunteer, visit our website at www.shared-interest.com/get-involved/ or fill out the form below and return it back to us with your members’ survey.
Stephen's work has taken him to a broad range of countries including Nigeria, Kenya and Ghana. Stephen said: “Shared Interest is an innovative concept. It goes far beyond charitable giving in using an individual’s funds that may be needed again one day. However, in the interim, this spare money can be used to finance fair trade businesses that may not be able to find financial support elsewhere. “I was also drawn to the organisation's ethical basis, and mutual principles in working co-operatively, along with its transparency.” Stephen, who first became an ambassador in 2006, continued: “Being an ambassador is rewarding in that not only is the cause worthy but the message is almost always received with courtesy and intrigue. Shared Interest has strong support here in Scotland in terms of investment but I would like to grow the volunteer network in my local area.”
Photo above: Shared Interest ambassadors (left to right) Alejandro Garrido, Shweta Otiv, Ben Quashie
I am interested in hearing more about becoming a Shared Interest volunteer Name: _________________________________________________________________________________________ Email: __________________________________________________ Telephone: _____________________________ Address: _______________________________________________________________________________________ ______________________________________________ Postcode: _______________________________________ 04 QR96
Entering new markets with new products
One of only two certified Fairtrade organisations in Central Asia, Vega Plus is a producer of walnuts based in Kyrgyzstan. This is the first time WE HAVE PROVIDED A LENDING FACILITY TO FINANCE THE PRODUCTION OF WALNUTS. Together with their buyer, Intersnack, Vega Plus is developing a sustainable Fairtrade supply chain for Kyrgyz walnut farmers. Fairtrade is a new concept in Central Asia and Vega Plus is one of the first producers to champion this more direct approach with far higher levels of traceability and trust. Working with co-operatives, Vega Plus provides the link between the forest gatherers and the importer, Intersnack.
Walnut production The production of Kyrgyz walnuts takes place in natural forests in southern Kyrgyzstan where families lease sections of forest for the collection of wild walnuts.
One of these co-operatives was set up in 2002 with the assistance of the non-governmental organisation (NGO) Agrolead, based in Kyrgyzstan. Agrolead provides services to farmers, traders and processing companies, international organisations and local NGOs within the sector. Vega Plus takes the safety of its workers very seriously and as part of this commitment has recently installed equipment to crack the nuts. Thanks to a Shared Interest lending facility, Vega Plus is able to pay the farmers when the nuts are harvested and ensure they can fulfil their orders on time. Since their walnuts have been certified as Fairtrade, Vega Plus has used the Premium to improve the local community and also look at introducing new products. As a result of this, they will be able to create more job opportunities for local residents.
Traders and middleman supply these walnuts to household crackers before the softer, edible part is sorted and packed. Walnuts are eco-friendly in that they flourish without the use of any chemicals or fertilisers. Their only requirement is that they are grown at an altitude of 1,200m above sea level.
Award success - WINNER OF MOST ETHICAL FINANCE INSTITUTION for commitment to fair trade It was an honour to be awarded the title of Most Ethical Finance Institution for commitment to fair trade during the international event, World Fair Trade Week, held from 23 to 31 May in Milan. Andrew said: “It is always an honour to win any award, but when the judges are actually the people you serve, it is an even greater privilege. “At Shared Interest, we do pride ourselves on having long term relationships with our customers. Many of the producers we lend to have worked with us for several years. We were delighted to receive the award at a special ceremony in Milan, where we were also attending the WFTO conference.”
Regional Manager Rest of World, Andrew Ridley
Following on from this success we have also been shortlisted for the Private Business Awards in the Social Enterprise category. The winners will be announced at a prestigious ceremony in London in late September.
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Cocoa and threats facing
the industry
Fairtrade Foundation’s Product Officer for cocoa, Stephen Lord, recently highlighted to us the challenges encountered by the cocoa industry. Here we share with you the problems faced by farmers and the measures already being taken to alleviate an impending crisis where supply will be outstripped by demand. According to the Fairtrade Foundation, 90% of the world’s cocoa is grown on family farms by about six million farmers. Africa, Asia, and Latin America are the main areas of production, with Ivory Coast having the highest yield, providing 40% of the global supply. Most producers have small farms, often with less than five hectares of land. Disease is a huge problem for farmers. On a global level, Black Pod disease is killing one in ten cocoa trees. The remaining trees are ageing and the average age of the cocoa farmer is increasing too. Unfortunately the poor financial returns are preventing young people from choosing farming as a vocation. Climate change is also a big threat to the cocoa industry. In West Africa, it could simply get too hot to support cocoa growth. Cocoa is a delicate and sensitive crop, and farmers must protect trees from wind, sun, pests, and disease. With proper care, cocoa trees begin to yield pods at peak production levels by the fifth year, and they can continue at this level for ten years.
“Despite the world’s love for chocolate, it is a precarious way of making a living.”
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“Despite the world’s love for chocolate, it is a precarious way of making a living. Although there is a high demand for cocoa, the global price for cocoa has fluctuated wildly in recent decades. Such volatility in prices makes it impossible for cocoa farmers to know how much they would be paid for their cocoa beans in a given year, let alone being able to plan for the future.”(Quote from Fairtrade Foundation website) Shared Interest helps cocoa farmers like ECOOKIM and ACOPAGRO to develop a more stable way of life by enabling them to buy the tools they need or pay their workers on time.
ECOOKIM
ACOPAGRO
Shared Interest works with ECOOKIM in Ivory Coast – one of four producers licensed to export cocoa in the region. The Ivory Coast government introduced stricter regulation in order to fix a guaranteed minimum price for farmers and encourage investment in ageing plantations. Under the new system, exporters bid at auction on the right to export specific volumes of beans during a fixed time frame.
ACOPAGRO is an established exporter of quality Fairtrade cocoa. The co-op based in the San Martin region, was created in 1997 by a group of individual farmers. Today ACOPAGRO has over 2,000 members in four different provinces and is the largest cocoa exporter in Peru. The organisation has been a customer of Shared Interest since 2010 and is currently using a facility to pre-finance orders. “Our job is directly with the farmers, building their trust in us. The work with them involves a lot of responsibility but at the same time it provides great satisfaction. Previously the situation was very difficult. When we accessed the credit provided by Shared Interest we were able to buy cocoa beans and as a consequence to help our farmers.”
Made up of 23 member co-operatives, ECOOKIM provides a livelihood for almost 12,000 cocoa farmers based in rural areas of Ivory Coast. After receiving financial training from Shared Interest Foundation as part of the Access to Finance programme, ECOOKIM became a customer of Shared Interest Society last year.
General Manager, Gonzalo Rio Nunez Watch our film on customer Acopagro on our website at www.shared-interest.com/ourfilms
Step 1 Harvested cocoa pods are plucked and opened
How is cocoa Produced?
Step 2 Cocoa beans are cleaned & roasted
Step 3 Shells are removed and nibs are milled & heated to create cocoa liquor
Step 4
Cocoa is a delicate and sensitive crop, and farmers must protect trees from wind, sun, pests, and disease. With proper care, cocoa trees begin to yield pods at peak production levels by the fifth year, and they can continue at this level for ten years. But for all this hard work, cocoa farmers gain very little from a very profitable global cocoa trade.
Cocoa liquor is pressed & added to the cocoa butter
Step 5 The mix is refined, neaded & smoothed
Step 6
Step 7
The mix is then heated, put into moulds & cooled
The chocolate is then packaged for distribution
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HARVESTING DREAMS OF A
FRUITFUL TOMORROW With their first credit facility approved in 1998 Fullwell Mill is one of Shared Interest longest standing buyer customers. Founded in the 1990s and based in Sunderland, Fullwell Mill started out as a manufacturer of sports and nutrition bars. Around the same time Tropical Wholefoods was founded with the aim of selling Fairtrade and organic food products from Uganda into European markets. What started out as a meeting of the minds turned into a new business through the fusion of a health and Fairtrade focus. Fullwell Mill founders Richard Friend and Peter Fawcett shared the same values and principles as Adam Brett and Kate Sebag from Tropical Wholefoods and it was a natural progression that all four joined forces, forming one organisation in 2001.
Richard Friend, said “Fullwell Mill championed fair trade before the Fairtrade Foundation was established in the UK, indeed before fair trade really existed as a consumer concept.”
“We believe that trade doesn’t have to be cut throat, we aim to deal with people fairly.” Through Adam and Kate’s established links with producers, Fullwell Mill was able to set up a direct supply chain with Fairtrade farmers, some of whom they have now been working with for over a decade. A number of these farmers are in disadvantaged and dangerous parts of the world and so benefit greatly from selling to northern markets. Peter continues: “Our production team faces various challenges because of the nature of our business. For example, if one of our farmers loses an entire crop, we will not look for an alternative supplier, instead we will work with the producer in question and see what we can do to get them back on their feet.” In 2014 this has included donating funds for the cancer treatment of a Fruits of the Nile employee. So once the Fairtrade fruit does arrive, and is added to Fullwell Mill’s product range, what does the end result look like? Many of you may already have seen their dried fruits and cereal bars on the supermarket shelves. You can buy Tropical Wholefoods in most good health food shops, Oxfam and online at www.tropicalwholefoods.com
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Photo to the left: Association Ton, mango and cashew producers, Burkina Faso
Gebana Afrique Gebana Afrique was introduced to Shared Interest by Fullwell Mill back in 2006 when a loan was approved to finance orders from Gebana and Fullwell Mill. Gebana Afrique began processing cashew nuts in 2012. The decision to do so has allowed the company to increase the number of producer groups they work with and the level of their turnover. Gebana Afrique, mango and cashew produ
cers, Burkina Faso
ASSOCIATION Ton Burkina Faso boasts a large mango orchard, covering the Hauts Bassins and Cascades regions. The orchard is also home to Association Ton (ATN), producers of 160,000 tonnes of mangos annually, some of which are dried and sold by Tropical Wholefoods here in the UK. Unfortunately almost 60% of this harvest is lost because of a lack of resources in conserving the fruit. Although ATN has increased the number of drying ovens from one to 15, they are still fighting to preserve the full harvest before it is wasted on the land.
Both the mangos and cashews can be affected by climatic conditions and disease, which can result in nonfulfilment of orders. Gebana Afrique has been affected by crop disease in the past and the organisation is working to minimise this risk through farmer training. Gebana Afrique has set up a producer association called Reseau de Producteur et Transformateur de Gebana Afrique (RPTGA). In the last year the association has been responsible for the distribution of trees and compost to farmers as well as building a toilet block for workers. They have also been able to purchase a charcoal oven, which is far more environmentally friendly than the one they used previously.
Gebana Afrique, mango and cashew producers, Burkina Faso
Thanks to Shared Interest investors, ATN will be able to purchase a truck to collect the harvested mangos and make deliveries. This, along with improvements in storage facilities, means that mango production is set to triple by 2016, and fruit wastage reduced to a minimum. ATN has also diversified into cashew production and has further plans to increase their product range. They dream of providing a nursery for staff and the community, an ambulance for the local hospital, and a micro credit union for ATN members.
Association Ton, mango and cashew producers, Burkina Faso
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“We are also improving our business model thanks to support from Shared Interest. This will enable us to hold stock in the UK for the first time, and therefore sell Fairtrade cotton uniform to a higher number of UK schools.” So what is next for Koolskools, and how important is support from Shared Interest to their future plans?
Koolskools Koolskools is the only company in the UK to supply school uniforms solely made with Fairtrade cotton. They became a Shared Interest customer earlier this year when we gave them a buyer credit facility to help increase their sales in the UK, and support more Fairtrade producers overseas. Awarded ‘Best Fairtrade Business’ for the second year running at the South West Fairtrade Business Awards 2015, judges said Koolskools is “an incredible advocate for Fairtrade, not only as a provider, but also for pioneering new products in the sector.” All Koolskools garments carry the Fairtrade Cotton Mark, meaning that there is a clear and transparent supply chain from farmer to buyer. With the exception of a Fairtrade cotton blazer, which is being developed on a trial basis, every other item is manufactured by Craft Aid Mauritius, one of Shared Interest’s longest standing customers.
“we are in talks with some UK companies interested in pursuing ethical clothing for staff.” France Villeneuve, Rest of World Regional Representative at Shared Interest said: “Unlike the fast-moving fashion industry where designs, styles and fabrics are constantly changing, the school uniform market is more stable. This makes for a much easier and simpler supply chain, especially since the vast majority of the school uniform range can be supplied from six colours.” Andy Ashcroft from Koolskools said: “By using Fairtrade cotton in all of our garments, we can be absolutely sure that producers are getting a fair price, and communities are enjoying the development benefits of the Fairtrade Premium. “To ensure that the pupils understand the valuable contribution they are making by wearing a Fairtrade school uniform, we offer free educational presentations on Fairtrade and ethical trading. “There is also the opportunity to put schools in contact with workers in our ethical factories. This provides older pupils with a rare and direct opportunity to probe the Koolskools factories on ethical trading and employment policies.” 10 QR96
Koolskools Mike Trodd said: “Next year promises to be very exciting for us. We have just launched a Fairtrade cotton workwear branch of the company, Koolkompany, and we are in talks with some UK companies interested in pursuing ethical clothing for staff. “The support from Shared Interest has been pivotal, not only in terms of assisting Koolskools to manage cash flow more efficiently, but also as a signal to equity investors, who have seen it as a vote-of-confidence in the project.”
Craft Aid Mauritius Craft Aid Mauritius is the only fair trade organisation in the small island nation of Mauritius in the Indian Ocean. Established in 1982 by Gabriel Kamudu (who recently retired as Managing Director) as a not for profit organisation with five employees, it now has over 200 employees, most of whom are disabled or disadvantaged. The group exports a range of clothing and bags made from Fairtrade cotton, handmade greetings cards decorated with pressed flowers and Fairtrade sugar. Craft Aid aims to give its employees the opportunity to be self-sufficient and enable them to provide for their families. Employees are provided with a medical allowance, free consultations with a doctor, transport facilities and profit shares, as well as the opportunity to join a pension scheme. Craft Aid also gives grants to a number of organisations working with disabled people. Craft Aid Mauritius has been a customer of Shared Interest for over ten years, during which time it has significantly changed its product mix, increased the number of employees, improved its cash flow and provided more benefits to its staff and the local community. Managing Director Reead Barkatoolah said: “Thank you to Shared Interest and its members who support us in providing financial support for us to be able to finance our production. “We would like to recommend to all companies to follow the example of creating employment and opportunities for people with disabilities.”
Developing our Lending team People are always amazed to hear that, from our headquarters in Newcastle, we send thousands of payments to over 60 countries. Our ability to reach out to even the most marginalised communities in the developing world has been helped greatly by our in-country presence. Regional offices were first established in Kenya and Costa Rica in 2006, followed by an office in Peru in 2009, and another in Ghana three years later. As demand for our lending has increased, we have recruited additional staff overseas, to support our Regional Managers. It now seems a natural progression for customers to have account managers based in their own region, instead of here in the UK.
Customer Relationships Manager, Malcolm Curtis said: “Over the past few years, customers have had a contact in their own region to help them set up their lending facility. After this, they would be given an account manager here in the UK.
“As time has gone on, it has become more practical for customers to have a local contact, where there is an opportunity to meet face to face.” Of course, we have a high number of customers based in areas not covered by our regional managers overseas. We now have two members of staff in our Newcastle headquarters who cover what we have termed ‘rest of world’. Together they are responsible for customers in Europe, North America, Asia and Pacific Rim. Customer Relationships Manager, Malcolm Curtis said: “We currently have 177 customers spread right across the globe, and last year alone we made 2,712 payments.
Customer Relationships Manager, Malcolm Curtis
“With account management being organised closer to home for customers, we will be able to build even stronger relationships and be more reactive to issues and requests in these regions.”
HELPING PRODUCERS WHEN DISASTER STRIKES Natural disasters can happen unexpectedly, wiping out entire crops as well as huge earnings for producers. This is the case with the recent eruption of the Calbuco volcano in Chile. We were sorry to hear that a volcanic erruption occurred, near the Paillaco area, where Apicoop beekeepers are located. General Manager of Apicoop, Chino Henriquez, who was a key speaker at our AGM in March (and featured in Spring QR), shared the devastating news with us last month. He said: “There is one metre of ashes covering the hives, we estimate the damage has been over 1,000 hives - and just a week ago this area was considered a paradise. Apicoop is seeking to support its members as best they can, nevertheless the contamination will remain in the air and land for a while.”
Damage caused by the volcanic eruption to Apicoop bee hives
On Chino’s visit to the UK in earlier this year he was invited to Newcastle High School for Girls to talk to the pupils about the challenges facing beekeepers. After hearing the news of the eruption the school was keen to help and got in touch with us. The students raised £300 to help Apicoop cover the costs of the damage.
Chino, Apicoop, at Newcastle High School for Girls in March 2015
Chino said: “I am overwhelmed by the generous donation. This money will help us replace the hives damaged by the eruption and get our business back up and running.” QR96 11
council news Membership of Council It has been a time of change among the members of Council. At the AGM in March we said goodbye to Margaret Newens and Claire Wigg, who had served for a combined total of 11 years. We thank them for their enthusiasm and unstinting work in making Council a more effective body. In their place we welcome Martin Canning, recently elected by postal ballot, and Kate Roberts who is the new randomly selected member of Council. There are details in the accompanying letter about the election for a non-randomly selected member in 2016 (the current member is not standing for re-election). Please do get in touch if you would like to become involved and know more.
Representing members The purpose of Council is to represent the members and ensure that the strategy of the Board is in line with the mission of Shared Interest and the vision of its founders. The present Council has members with a wide variety of skills and experience, which inform discussions with one another, as well as our meetings with Shared Interest senior management. We all share a commitment to fair trade and to the work of Shared Interest. We are currently debating how best we can represent members’ views, given that members may have a variety of opinions on some matters. How do you think Council can best represent you? Please give us your ideas on this by contacting Council by e-mail on SIcouncil@shared-interest.com or by letter. Your responses and suggestions will be most welcome. Sue James and Malcolm Nunn, Joint Moderators
An improved online area for members We created our Secure Area three years ago in response to demand from our members in accessing their Share Account online and over 2,500 of you now use the facility. Since then we have launched an online application form, so that people can invest via the Shared Interest website. Now we are looking at how we can improve online access for members and are in the process of developing a new portal. The aim is to streamline how your Share Account is managed, and give more flexibility around making changes to personal details. You will also be able to view statements according to specific dates, print bespoke statements, and see a live balance. As part of our drive to reduce the amount of paper we produce, we have been encouraging members
to sign up to online communication. This means that you receive an email each quarter, telling you that QR and your statements are available to view, subsequently saving on paper and postage. We will bring a further update to you in our next QR. In the meantime, if you have any further questions, or would like to sign up to receive your documents online, please email securearea@shared-interest.com or call the team on 0191 233 9102.
Contact us
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 Mutual 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.