Co-operative Funding

Funding eligibility

Co-operative societies will be eligible for funding as long as

  • they are in conformity with all the provisions of the Act;
  • they will have declared a surplus of at least €15,000 annually and paid up a minimum contribution of €750 annually to the Fund in at least 2 out of the last 3 years as declared in their audited financial statements (reviewable upwards every 3 years);
  • the audit reports on their financial statements are not seriously modified/qualified in the last 2 financial years
  • the society’s payments of the Fund contribution will have been made within 9 months of the year end of the society’s financial statements.

Eligible Co-operative Societies

  • may apply for full funding to finance research and development, training and educational programmes of the co-operative society;
  • are not entitled to funding for general administration costs, salaries, wages, honoraria, international membership fees and related personnel expenditure.

Recognised organisations will be eligible for funding as long as

  • at least 35% of its members are registered primary co-operative societies; or
  • its members contribute at least 35% of all the paid-up annual contributions to the Fund;
    and
  • the audit reports on their financial statements are not seriously modified/qualified in the last 2 financial years.

Eligible Recognised Organisations

  • may apply for full funding to finance research and development, training and educational programmes relating to the promotion and development of the co-operative movement;
  • reimbursement of approved international and local membership fees only;
    • capped at €20,000 annually for each eligible recognised organisation;
  • reimbursement of up to €70,000 covering administration costs including salaries for each eligible recognised organisation;
    • salaries shall be capped at €23,000 annually for each full-time staff member.

The Committee

  • may avail itself of funds to finance research and development, training and educational programmes relating to the promotion and development of the co-operative movement, support services and general administration costs including honoraria of its members’ salaries and wages and to fulfil its functions.

The Co-operatives Board (Statutory Body) may apply for

  • full funding to finance initiatives, training and educational programmes relating to the promotion and development of the co-operative movement;
  • reimbursement of approved international and local membership fees only capped at €20,000 annually.

Any person who actively contributes to the promotion and development of the co-operative movement

  • may apply for full funding to finance initiatives, training and educational programmes relating to the promotion and development of the co-operative movement.

Funding conditions

  • Funding shall not exceed 100% of the total annual contribution to the Fund as declared in the latest audited financial statements of the Fund, unless the Minister approves a higher contribution.
  • All beneficiaries of the Fund will submit annually a detailed account and proof of use of such funds to the Committee;
  • All excess funding shall be reimbursed to the Fund;
  • The Committee may prescribe rules and establish methods of verification of expenditure;
  • The Committee may withhold, suspend or reclaim funds:
    • if the verification exercise is obstructed;
    • if the beneficiaries misinterpret their funding accounts;
    • if the funds are not utilised for the specific purpose they were intended.

We offer assistance on how to apply for funding from the Central Cooperative Fund

Contact us for an appointment

  Call us on +356 21430100 or Contact Us