Rochdale makes the headlines across the globe

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Rochdale’s famous Co-operative movement is making the headlines across the globe – as a solution to the economic crisis.

The Jamaican Observer, a national newspaper, has stated that The Rochdale Pioneers, who started the first co-operative in 1844, should be a model on how business is managed during a time of worldwide financial downturn.

According to the paper, the co-op movement is an effective way of  “pooling together” and could save some businesses from collapsing under the heavy weight of the credit crunch.

Only yesterday (Wednesday November 26) it was announced that one of the UK’s largest high street names Woolworths has gone into administration.

Nationwide, airlines, retailers and small businesses have been folding.

But the article in the Jamaican news says: “With the financial meltdown in the USA and its effects on Jamaica, it is time for people to come together to form co-operatives. 

"A co-operative is really a business that is owned by its members equally.”

“Co-operatives in Europe came about because of necessity. And that necessity came about because of starvation due to unemployment.”

“The Rochdale Pioneers started the first modern co-operative in 1844. Twenty-eight workers of cotton mills in Rochdale came together and established the Rochdale Equitable Pioneers Society in that year.

“Working conditions were awful - wages were low and they could not afford the high prices of food. By pooling together they were able to buy flour, oatmeal, sugar and butter at a reduced cost.”

The Rochdale Co-operative movement was also mentioned in the Camden New Journal, which covers part of North London. 

It read: “Credit unions are inspired by the 28 working-class artisans who founded the Co-operative movement in Rochdale in the 19th century. They are guided by principles of sharing and equality, with respect for customers who become members.”