Bank pledges £400k for cooperative development

January 2021

The Co-operative Bank has announced that it has renewed its support for The Hive – a programme delivered by Co-operatives UK to support new co‑operative start-ups, help grow existing co‑ops and help business convert to co-operative or community ownership.

The Hive was launched in 2016, and has already received £1.3 million in funding from the bank. This has helped over 1,000 co-operatives and groups with support including direct business advice, workshops, training and mentoring.

Part of the bank’s funding has helped develop a digital registration service for co-op start-ups, a first for the sector and a much-needed development. As part of this process co-ops can access free business banking from The Co-operative Bank.

The news was picked up in the Sunday Express, which looked at some small co-ops that have benefited.

We’re delighted that the bank is continuing its support for this much-needed initiative. This is one of the main ways the bank meets its Ethical Policy commitment to support co‑operatives.