Building Change Trust looks into punk finance
The Building Change Trust in association with the Northern Ireland Co-operatives Forum hosted a highly interesting and successful seminar on the subject of community shares, with a view to exploring sustainable financial models for the Community and Voluntary sector in Northern Ireland.
Speaking at the event was Andy Walsh, General Manager of FC United of Manchester (FCUM); the football club that broke away from Manchester United following the much publicised Glazer takeover in 2005.
Andy gave an inspirational speech and presentation outlining how the club which is a community benefit society has used the community shares financial model to raise money for a new stadium, whilst always maintaining the democratic ethos the club was founded upon.
Andy’s presentation can be downloaded here, along with a copy of FCUM’s share offer document and a report into what the club call ‘Punk Finance’.
Also giving presentations at the event were Jo Bird from Co-Op Business Consultants who outlined the community shares model and explained the potential this model has to both raise finance and build community involvement and engagement.
Jo’s presentation can be downloaded here.
Finally speaking at the event was Mark Langhammer Treasurer at Crusaders Football Club. He explained how the club, in partnership with Newington FC, is developing a new stadium and outlined how they will explore the community shares model to help finance this, having successfully initiated a bond scheme at the club in the past.
Mark’s presentation can be downloaded here.
Nigel McKinney, Building Change Trust Administrator said: “This event was a great success with a lot of new ideas being brought to the conversation about sustainable finance in the Northern Ireland Community and Voluntary Sector.
“The Trust is dedicated to supporting change and transformation within the sector and consideration of new ways of financing activity is a critical part of that.
“There is some previous history in Northern Ireland of use of community shares models but no evidence of recent use, in the current form the community shares model could provide a means for communities to both raise money for important projects to meet local needs and also to build and galvanise community participation and engagement”.