Locally run cooperatives can have a huge positive impact on a local area. The advantages are having locally owned and run organisations which are providing a service which the community really wants and values. Members can ensure that goods and services are sourced locally so providing employment opportunities and ensuring that a greater proportion of money being spent remains in the local area. Whether through food coops or credit unions, locally organised and run services can help communities regain some of the power currently residing in organisations which do not have any regard to the community in which they operate.
Hackney Co-operative Developments is a local community economic development agency working in the community to create a sustainable environment by connecting people and organisations so that locally-owned businesses can thrive. They provide support such as planning, governance, legal advice and provide affordable business premises to support local businesses and community organisations.
Neighborhood Trust Financial Partners is a New York based provider of financial empowerment services which seeks to help people on low incomes find and use responsible financial products and improve their money management and financial mobility.