If it wasn’t for a small store at 31 Toad Lane in Rochdale, England, in 1844, this newspaper might not exist today. From humble beginnings with 28 employees, the Rochdale Equitable Pioneers Society developed the first co-operative.
It began principles that led to the development of co-operatives around the world. Today there are more than 700 million members involved in co-operatives and credit unions, including Saskatchewan Wheat Pool, owners of this paper.
For that reason, we are proud to publish this week a special anniversary section on co-operatives.
The earliest co-operative, incorporated Oct. 24, 1844, began with selling four items – butter, flour, oatmeal and sugar. The opening inventory was about $26. The shop was open only two nights per week, from 8 p.m. to 10 p.m.
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By March 1845, they were open every night except Sunday and Tuesday. At the end of its first year, the store had 74 members, raised $181 in capital, had $1,100 in sales, and earned $22 in savings/profits.
The average weekly wage in 1845? $1.50.
Today co-ops boast large memberships, capital and profits.
The co-ops and credit unions recognize their economic strength and in some cases the political power they wield – but they also see the need for change to retain members and build for the future.
The co-operative movement now includes a diverse collection of commodities, peoples and places.
At the triennial congress held in Toronto earlier this year, there were credit unions and grain, dairy, housing, worker, savings, daycare, retail and food co-operatives represented from P.E.I. to B.C.
It was amazing but welcome to see multi-million-dollar industry leaders sitting next to people from co-operatives with perhaps a dozen members – and each finding common goals and principles to believe in and work towards.
