Footnotes / references 1. Figures rounded from 2015-2016 Annual Report
2. UK cooperative taxation means that after tax surplus is also after distributions
The Phone Co-op was an independent consumer co-operative in the United Kingdom. It provided landline, mobile telephone and Internet services, including web hosting and broadband. In April 2018, the Phone Co-op board agreed for its operations to be transferred to the Midcounties Co-operative, with the Phone Co-op legal entity ceasing to exist.[1] The brand continued to be operated until 1 June 2018, when it was rebranded to Your Co-op following the completion of the transfer.[2]
The Phone Co-op followed the widely recognised Rochdale Principles of co-operation, including the payment of a dividend to its members based on how much they spend with the co-operative during the year. The dividend was paid out of profits generated by the co-operative and for year ending 31 August 2016 was 1.5% of each member's spend.[5] In common with many other co-operatives, the Phone Co-op sought to operate to high ethical and environmental standards, publishing extensive non-financial data in its annual report.
At the Annual General Meeting of 3 February 2018, the board presented a plan[17] to boost sales to businesses by investing the co-operative's reserves and part of the members' share capital in updating systems and raising pay. Members voiced their concern about the risks involved and urged the board to be more transparent in its communication.[18] At a Special General Meeting on 28 April 2018 members voted 136:50 for a motion supporting the strategy. However this was only after voting 202:17 to transfer the co-op's engagements to (i.e. merge with) Midcounties Co-operative Society, which had greater resources and the potential to cross-sell to its Co-operative Energy customers. Since both votes were open to all circa 11,700 members, the vote turnout was less than 2%. A confirmatory vote on the transfer of engagements was held on 12 May 2018 in Droitwich[19] where it was passed by 75 votes out of 76. The transfer took place on 1 June 2018.[20]
1998: founded as SETCO (Social Economy Telecommunications Co-operative), incorporated as a company limited by guarantee. Initially, membership of the co-operative was reserved exclusively for other co-ops and charities.
1999: rule change opened membership to the general public in August. SETCO renamed itself The Phone Co-op and converted into a co-operative society incorporated under the Industrial & Provident Societies Acts.
2010: acquired the telecoms business of Saga Group, including approximately 8,000 residential customers.
2012: concluded a brand licensing agreement with Co-operative Brands Limited to use The Co-operative brand with three specific sub-brands, The Co-operative Phone & Broadband, The Co-operative Business Telecoms, and The Co-operative Mobile.[21][22]
2013: Partnered with the UK charity Community Network to take over its teleconferencing platform, allowing the charity to focus on serving its clients.[23]
2014: invested £500,000 in public transport social enterprise HCT Group.[24]
2017: brought service sub-brands in line with the name of the organisation since 1999, The Phone Co-op, in place of the names adopted using The Co-operative brand in 2012. The new brand identity incorporates the Global Cooperative Marque promoted by the International Co-operative Alliance.[33]
2017: Founder Vivian Woodell stepped down to head the new Phone Co-op Foundation for Co-operative Innovation[34]
