Shares for sale in Silsden co-operative (From Craven Herald)

Shares for sale in Silsden co-operative

12:10pm Saturday 20th March 2010 in

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Townsfolk are being offered a chance to show commitment to their community by buying shares in a co-operative.

For £10, people in Silsden can join Cobbydale Regeneration, which pledges to reinvest the money to make the town thrive. The group is being launched on Monday at a meeting in Silsden Town Hall and people wanting to invest, or find out more, are urged to go along from 7pm.

Spearheading the project is Silsden community worker and co-founder, Jonathan Crewdson, who has experience in social enterprise schemes.

He describes the co-operative as a method of generating “philanthropic capital”

Mr Crewdson, 34, is looking for people to become unpaid voluntary directors as well as members to buy shares.

He said: “It is a form of community co-op that can trade and sell shares to raise money, but must reinvest the vast majority of its profits on work to benefit the local area.”

Early ideas include a scheme to create community-owned renewable energy by using water from the nearby River Aire.

The co-operative could also set up loyalty vouchers to be used in local businesses and consider buying and renovating derelict property in the town. It would aim to support businesses by encouraging people to buy locally and carry out projects to improve the physical environment.