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QUARTERLY RETURN 89 Autumn 2013

CELEBRATING SUCCESS

Shared Interest stakeholders celebrate receiving their second Queen’s Award

ROYA

Learn more about the disease threatening the livelihoods of Latin American coffee farmers

CONSORCIO VINICOLA dE ChILEHear directly from our South American RDE on our first loan to a Fairtrade wine producer

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As the autumnal season sets in I am thrilled to welcome you to the latest issue of QR. As you can read below, we were recently presented our second Queen’s Award by the Queen’s representative, the Lord Lieutenant of Tyne and Wear Nigel Sherlock OBE.

Thank you to all of our local members who were able to attend and a special welcome to our new members who’ve joined as a result of attending the event.

I am also incredibly grateful to the approximately 2,200 members who have completed our membership survey. The results will be published as part of our Social Accounts at the end of the year. By participating in the survey you really do help to shape the future of the Society and we value your opinion on our activity over the year.

The introduction of our Secure Area on the Shared Interest website www.shared-interest.com means that you can change the way you receive your quarterly statement and your copy of QR. If you would like to amend your current delivery choice, please complete and return the form on page three. Hopefully you have spotted the Gift Tag included in this issue, along with a change to the recommend-a-friend postcards towards the back of the newsletter. For further information on the Shared Interest Gift Pack please see the back cover or visit www.shared-interest.com/gift-pack

I hope that you enjoy reading this issue of QR, as always, if you have any comments or feedback please email [email protected] or write to our head office address, it is always a pleasure to hear from our members.

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Patricia Alexander, Managing Director

WELCOmE

For those of you who are not aware of this prestigious award scheme, the award recognises commercially successful products, services and approaches to management which might benefit the environment, society and the wider economy.

As the award comes from the Queen herself, Customer Services Manager, Malcolm Curtis and Managing Director, Patricia Alexander travelled to London for a formal reception with Her Majesty. Back in the North East we were delighted to be visited by the Queen’s representative the Lord Lieutenant. On 6 September 2013, the Shared Interest team, including our overseas staff members and Board and Council, were joined by guests and partners from the region to meet with the Lord Lieutenant and formally receive the award.

We held a reception at the Mansion House in Jesmond where all attendees were able to meet the Lord Lieutenant as well as celebrate our success. As part of the celebrations we showcased a short film that gave staff the opportunity to tell the audience what winning this award for the second consecutive time means to them. If you would like to see this film and hear first-hand from our overseas team about the impact your investment has on communities overseas please visit www.shared-interest.com/about-us/our-films where the film will be available for a short time.

Once again, we couldn’t have achieved this prestigious recognition without the support of you, our members. Thank you for your continued investment, commitment and support.

IN ThE WORdS Of QUEEN: “WE ARE ThE ChAmpIONS!”This year we were thrilled to be awarded our second Queen’s Award for Enterprise in Sustainable Development. After being recognised in 2008 we were keen to continue as Queen’s Award winners and front runners in the field of sustainable development.

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The annual Cafédirect Producer Conference was held in Lima last month and was a great opportunity for producers to share updates on the industry and discuss common business concerns. Our customer, Cooperativa Agraria Cafetalera Pangoa Ltda, a co-operative of 641 coffee and cocoa producers in the Central Jungle of Peru, gave a presentation on their longstanding relationship with Shared Interest and the importance of our financial support.

In November we will be leading a number of discussion forums at the Fairtrade Africa Convention in Cape Town. The theme for the conference is aptly ‘Partnerships for Sustainable Enterprise Growth’

ShAREd INTEREST EVENTSWE fEEL VERY pRIVILEGEd TO BE SUppORTING TWO pARTNER CONfERENCES ThIS YEAR, RAISING ThE pROfILE Of ShAREd INTEREST OVERSEAS.

STATEmENT pREfERENCES - dO YOU kNOW YOUR OpTIONS?WITh ThE INTROdUCTION Of ThE SECURE AREA, WhICh IS ACCESSIBLE ThROUGh OUR WEBSITE, YOU NOW hAVE TWO WAYS TO RECEIVE YOUR STATEmENT.

You can receive a postal statement accompanied by a copy of QR or you can view your statement and QR online through the Secure Area. If you would like to change your current statement preferences please complete the below form and send it back to us at: Shared Interest, Freepost NT1883, Newcastle Upon Tyne, NE1 1BR.

Other upcoming events:

One World Fair - Saturday 16 November, Oxford Town Hall Shared Interest will be returning to this annual festive fair to showcase our gift packs. We will be sharing a stall with local organisation, Trading for Development.

Faith in Finance - Tuesday 5 November, Crypt of St Paul’s Cathedral Time: 18.30 - 20.00

Fairtrade Fortnight 2014 will take between Monday 24 February and Sunday 9 March.

The Shared Interest AGM will take place in London on Friday 14 March. Further information is to follow.

Full Name (Mrs/ Miss/ Ms/ Mr/ Dr/ Rev) _________________________________________________________________

Account number: _________________________ Organisation (if Applicable) ________________________________________

Address: _________________________________________________________________________________________

Postcode: ________________ Telephone: ___________________ Email: __________________________________

I would like to receive my quarterly statements and newsletter “QR” By post only (NB: You will receive a quarterly newsletter and statement in the post)

Please select frequency - Quarterly Twice a year (Jan and April)

Access to your statement via the Secure Area only (NB: You will receive a quarterly newsletter with a link to our secure site. Your statement and QR will be available by logging into the system using your unique details)

Access to your statement via the Secure Area and receive a statement by post

(NB: In addition to having access to the secure area you will receive a hard copy statement and quarterly newsletter)

Signature _______________________________________________ Date ______/______/_______

and we felt that it strongly resonated with the activities of both the Shared Interest Society and Foundation.

Closer to home, we are working with Ecumenical Council for Corporate Responsibility (ECCR), the Church in Wales and Fair Trade Wales on a joint event in Cardiff planned for October. Falling within One World Week and just after National Ethical Investment Week the debate ‘Finance: what’s faith got to do with it?’ is aimed at those interested in learning how their money can make a positive impact and keen to discuss questions such as ‘Does your money do good?’.

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Whilst Shared Interest has always opted to take a back seat when it comes to politics, we were thrilled when two of our London based volunteers were offered the opportunity to tour the Houses of Parliament as part of National Volunteers Week in June.

Organised by Enfield Voluntary Action, the tour was a chance for Shared Interest volunteers, Ben Quashie and Janet Wells, along with 200 others to glimpse the inner workings of Westminster whilst meeting with other volunteers, sharing their experiences and of course stories about the organisations they represent. We asked Janet to tell us more about their visit:

“After meeting up outside the Houses of Parliament, and going through the security areas, we arrived into Westminster Hall. This is the oldest building in Parliament, standing for 900 years! We received a very atmospheric welcome and it is safe to say we were all in awe of the building.

“Moving through to the lobby area, we were greeted by paintings of the four saints of the nations of the United Kingdom. From here we moved on to the House of Commons. We were very lucky to be visiting in the summer, as due to the holiday season, Parliament was not in session so we were able to spend quite some time learning about the different rooms and their purposes.

“A UNIQUE ANd SpECIAL OppORTUNITY” ThE hOUSES Of pARLIAmENT:

“Ben in particular was especially interested to learn about the seating arrangements in the House of Commons. For those of you that don’t know, the ruling party sits to the right of the Speaker, with the opposition facing them on the left. This format is unique to the UK and Canada. Later on in the day we visited the House of Lords where we were able to sit in the Strangers Gallery, the public viewing area, and observe a live reporting session on the European Energy Bill. This was very interesting and we felt very privileged to have witnessed this activity.

“After the formal tour we visited the Jewel Tower, one of only two buildings from the medieval Palace of Westminster to survive to the present day, the other being Westminster Hall. The Jewel Tower previously housed historic records of the House of Lords and is now maintained by English Heritage. We loved being able to uncover the history of the building at the same time as learning about its modern use.

“We both really enjoyed the day and are thankful to both Enfield Voluntary Action and Shared Interest for offering us this unique and special opportunity.”

Shared Interest Engagement Officer, Sally Reith said: “Celebrating the support our volunteers provide is really important to the Shared Interest team. This year it was brilliant to be able to offer something so different as a thank you.”

If you are interested in becoming a Shared Interest volunteer please get in touch on 0191 23 9103 or email [email protected]

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When Mags Vaughan took up the post of Chief Executive at Traidcraft earlier this year, she became the first woman to head up the pioneering fair trade retailer and development charity based in Gateshead. We thought now would be the perfect opportunity to catch up with Mags to talk about the challenges ahead.

How are you feeling as you take up your new role?

Very excited, of course! Traidcraft is a unique organisation that I feel very fortunate and privileged to lead. As a retail plc and a development charity, we’re doing inspirational work in an increasingly competitive fair trade marketplace, while transforming lives across the world through our development work. I can’t help but feel inspired.

And being Traidcraft’s first female Chief Executive must feel quite special?

It really is a great privilege to be a woman at the head of an organisation that does so much to help women around the world. Seeing at first-hand how empowered women can transform families, businesses and whole communities makes me more determined than ever to make sure that our activities harness the power of women in communities, and I’m keen to ensure that our work continues to get women involved at the heart of decision making in their communities.

The retail market has been a bit of a rocky road this last couple of years. How has Traidcraft coped with that journey?

Like any business, we’ve not been immune from the commercial realities of the UK retail climate. The way our customers buy and their expectations of how Traidcraft will sell to them are changing. We’ve done a lot of work over the past couple of years to recruit new customers and develop our offer.

It’s also true to say that, in a similar way to Shared Interest, we measure success in a very different way to most businesses. This year, our trading and charitable operations have impacted on 900,000 beneficiaries. That’s not to say that profit and loss aren’t important – of course they are. We’re very fortunate that even in an economic downturn, our customers have continued to support Traidcraft. Their belief in the justice of what we do is unwavering.

And what will Traidcraft be doing differently on your watch?

You know, I’d have to say that we’ll be doing lots of things in exactly the same way, because we know that what we do really works. We’ve always been fair trade pioneers - chocolate, cotton, rubber, charcoal – we were there at the start with fair trade in these areas. That’s not changing, and nor would I want it to.

This year will see us launch new products in one of the biggest commodity areas without a current fair trade supply chain – and I think those products and that commodity will take everyone by surprise. We’ll continue to work with some of the most vulnerable and marginalised people to help them trade their own way out of poverty. We’ll continue to campaign for trade justice.

None of this would be possible without our committed customers and supporters. We know that one of the great joys for everyone involved with Traidcraft is that we’re connected to over half a million producers and farmers in developing countries who are slowly but surely breaking the cycle of poverty in their communities.

So while it feels like quite a challenge, I’m really looking forward to the future. There’s a new enthusiasm from consumers for ethical, traceable supply chains and for engaging with companies with real integrity – companies like Traidcraft, and of course, Shared Interest.

www.traidcraft.co.uk / www.traidcraftshop.co.uk

ThROUGh TRAdEBREAkING ThE CYCLE Of pOVERTY

Shared Interest and Traidcraft are linked by more than just their North East location. The two share a common heritage and a vision of a world in which disadvantaged producers can access markets and benefit from trade.

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Established over 30 years ago, Raymisa is a volunteer organisation that developed out of a desire to support disadvantaged artisans. Regional Development Executive for Peru, Paul Sablich said: “For this group, supporting the producers is at the heart of the company, they are a real example of a group that wanted to make a positive difference through their core business rather than as an add on.”

Raymisa originally sold pottery goods but has since expanded their product range to include clothing and other handcrafted goods. Today they work with more than 300 artisans and over 3,000 alpaca farmers across Peru, securing sustainable and reliable incomes for these individuals.

By working with Shared Interest, Raymisa has been able to offer high impact solutions that benefit both the alpaca farmers in Ayacucho, Cuzco and Puno, and the clothing producers that utilise the alpaca wool in Lima by providing traceable supply chains as well as additional incomes to both groups.

RAYmISA WhERE pOSSIBLE ThE ShAREd INTEREST TEAm IS kEEN TO BUILd STRONG, LONG-TERm RELATIONShIpS WITh OUR CUSTOmERS. A GREAT ExAmpLE Of ThIS IS OUR RELATIONShIp WITh pERUVIAN hANdCRAfT ORGANISATION, RAYmISA.

Paul explains how the process works: “The alpaca farmers supply alpaca wool to the factory in Lima. The workers there use the wool to make clothes and other handcrafted goods. By working with Raymisa, both groups receive benefits. The farmers receive increased income for their alpaca wool, as well as a guaranteed buyer and the artisans, in turn, benefit from cheaper priced wool and additional income from the sale of their products.” He added: “What is fantastic about this group is that the impact is so great across all levels and you can really see this.”

Raymisa first met Shared Interest at the Peru Moda handcraft trade fair in Peru. They subsequently applied for an export credit facility which helped the group to expand their business. They now boast an extensive list of international buyers.

More recently, Raymisa applied for a term loan facility which enabled the group to purchase a washing and a filtering machine. This new equipment not only helps to wash and select the alpaca wool, it reduces the amount of water needed by 70%. The machine also decreases washing time and increases the group’s monthly production of alpaca thread from 500 to 1,000kg whilst reducing waste by 10%.

Orlando Vasquez Buenaño, General Manager of Raymisa said: “We are currently looking to expand our markets and ultimately generate more employment for artisans through orders generated. For us, working with Shared Interest means we have a more friendly line of credit than with commercial banks, so we can finance the purchase orders and productions smoothly.”

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In 2006, Yoko Meinertz and Erica Claure Pedersen were living in Denmark with the shared dream of producing high quality natural clothing with simple designs that incorporated the craftsmanship of the indigenous female artisans in Erica’s native Peru.

From this dream, Esencia was born. The organisation began selling high-end childrenswear to retail businesses, but has since diversified into womenswear. Despite this diversification, what remains of upmost importance is working with fair trade and sustainable suppliers that support Esencia’s vision.

The group only uses the finest alpaca and llama fibres as well as organic cotton. As they initially set out to supply childrenswear, these materials were chosen to be comfortable and practical for babies and toddlers. In addition, 90% of the goods sold by Esencia are produced using a hand loom to ensure high quality final products. Esencia has endeavoured to support the producer groups that it works with. For example, in 2006 many of the women worked alone, today they work in groups, supporting each other. Many of the women that create Esencia’s products were unemployed mothers; by working with Esencia they are able to balance employment and childcare as they are able to take care of their children whilst working.

More direct support has also been provided by the group. They provided school supplies and breakfasts for students in remote areas as well as medical care for the artisans that supply them. Esencia has supported whole communities by building shelters for alpaca farmers and providing Christmas celebrations for local children. A Shared Interest loan will enable Esencia to access the working capital needed to expand their business and to pre-finance orders from their Peruvian suppliers.

Twenty five years ago, husband and wife partnership Benita and Sebastian formed a small artisan group named Colecciones del Ande. Their aim was to support the development of alpaca handcraft producers in the Cuzco and Puno areas of Peru.

Today, the group, now known as Royal Knit, is managed by the couple’s sons Mariela and Yury. This family business has evolved over the years, perhaps most significantly in 2011 when they embarked on a project that would enable them to apply for fair trade certification. In April 2013 the group achieved WFTO membership which means they were able to apply for a Shared Interest loan.

We are delighted to be working with Royal Knit, helping them to support Peruvian alpaca and cotton producers. Our funds will enable the group to access affordable working capital and to pre-pay their suppliers for their handcrafted goods.

kOpERATIVE Y’ABAhINzI BA kAWA BA kARABA (kOAkAkA)Each coffee season, Koakaka, a Rwandan coffee co-operative, is faced with financial challenges when it comes to paying farmers for the coffee cherries delivered to them. Over the years they have relied on finance from local banks, however, these funds are unreliable and unfortunately on numerous occasions, Koakaka has been unable to purchase coffee from its farmer members. Despite this the group has grown from 837 members in 2002 to 1,316 today. Encouragingly the group continues to recruit interested local farmers to the co-operative which is based 150km from Rwanda’s capital city, Kigali.

As well as supporting the flow of working capital the group hopes to use Shared Interest funds to build a third washing station for its members to use. They also want to set up their own coffee testing laboratory and eventually establish a farmers’ bank as a subsidiary of the co-operative.

Koakaka is dedicated to improving the livelihoods of the farmers and their communities. As well as assuring a market and higher prices for coffee, they provide employment for local women in the washing stations and support the education of local children by assisting with school fees. Shared Interest finance will enable the group to impact the lives of many more producers in the region.

ROYAL kNIT

NEW LENdING STORIES EACh QUARTER WE TRY ANd BRING YOU NEWS Of OUR NEWEST CUSTOmERS TO ShOW ThE SCOpE Of pROdUCTS ANd ThE REGIONAL AREAS ThAT WE LENd IN. kEEp A LOOk OUT fOR ThESE CUSTOmERS IN fUTURE ISSUES AS WE ENdEAVOUR TO UpdATE YOU ON ThEIR pROGRESS.

ESENCIA

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That was until 2008 when cases of Roya began to re-emerge. Since then, the spread of the disease has steadily increased and Central America is now dealing with what can only be described as a Roya crisis. National Emergencies have been declared in Costa Rica, Nicaragua, Guatemala, El Salvador, and the Dominican Republic as a strong variant of the disease continues to destroy coffee crops across the region.

ROYA CRISIS IN CENTRAL AmERICA

ROYA, OR RUST, AS IT TRANSLATES IN ENGLISh, IS A fUNGUS ThAT ORIGINATEd IN EThIOpIA. IT IS ThOUGhT ThAT ThE dISEASE, WhICh ATTACkS COffEE pLANTS, WAS fIRST BROUGhT TO SOUTh AmERICA IN ThE 1970S WhEN ThERE WAS A mILd ATTACk IN COLOmBIA ANd CENTRAL AmERICA. dURING ThE 1980S ThE dISEASE WAS pREVALENT ThROUGhOUT ThE CONTINENT; hOWEVER, OVER ThE LAST 20 YEARS ThE dISEASE hAS LARGELY BEEN UNdER CONTROL.

The spread of the disease has exponentially increased since the beginning of 2013. This has caused major problems for coffee farmers and production has dropped by approximately 20%. This has caused the loss of over 441,000 jobs. In Guatemala alone, 200,000 farmers have lost their jobs and as a country, the estimated loss of income is estimated at $91 million.

Experts believe that the disease favours lower temperatures and lower light levels. It is also easily spread during wet weather when raindrops hit infected leaves and bounce to another, causing infection. As the effects of climate change are increasingly seen and Central America is faced with frequent, heavy storms, the perfect conditions for Roya are created and maintained.

The onset of Roya can have a devastating effect on coffee farmers. As an example, if 5% of their crop is exposed to the disease it is controllable; if 30% of their crop is exposed then immediate action is required. If more that 30% of the crop is affected then the whole field must be destroyed and replanted with huge consequences for the farmers and their families.

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Recognising the impact of the spreading disease, Governments and NGOs are working together to support coffee farmers as best they can. It has been acknowledged that to combat the spread of Roya, Governments should be promoting a preventive culture, carrying out meteorological data analysis in each region and developing early warning alert systems to highlight the threat of the disease.

At farm level, NGOs are working with producers to raise awareness of the disease, its causes and ways to prevent spread. Customised and effective control management is central to containing the disease. However, this requires high levels of discipline from the farmers as well as access to specialised treatment products. Schemes are being introduced across Central America to help farmers combat Roya. One such scheme is the Rust Response Fund. The scheme received 42 proposals between March and May, and through

no small feat selected 10 finalists. These 10 projects were then evaluated by an external committee. CAC Oro Verde and CAC Satipo, both Peruvian coffee co-operatives and both Shared Interest customers, were chosen as the winners, each receiving $25,000 to use toward fighting and preventing coffee leaf rust.

Speaking of the project, Laura Ann Sweitzer said: “We are pleased to award these two exemplary fair trade certified co-operatives in Peru funds to implement projects that mitigate and combat the effects of rust. We are confident that CAC Satipo and CAC Oro Verde will implement their respective programs with excellence, benefitting their communities at this most critical time.”

CAC SATIpOCAC Satipo is a Peruvian coffee co-operative that earned Fairtrade certification in 1997. CAC Satipo prides itself on its healthcare, social services and credit programmes, as well as its educational and training opportunities for all members. With the $25,000 it was awarded, CAC Satipo will implement a new rust management fund. This fund will be used towards purchasing rust-resistant seedlings, inputs for organic mixtures that will prevent the spread of rust, as well as for technical assistance for the co-op members and their individual efforts.

CAC ORO VERdE CAC Oro Verde is a Peruvian coffee co-operative with 600 member families. With this grant, CAC Oro Verde will introduce rust management projects for its farms in the San Martin Region. These projects will focus on improving knowledge and skills for integrated rust management among member families. Over a 12 month period, senior agronomists will lead training activities, make specific recommendations, and conduct soil analysis to help guide CAC Oro Verde as they begin applying organic fertilisers to affected plants. Further, the farmers of this coffee community will replant 100 hectares of land with rust resistant coffee seedlings, purchase necessary inputs and equipment, and even build a laboratory for the creation of organic mixtures.

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A large part of my role as Regional Development Executive involves travelling across South America to visit both old and new customers. Last year, I travelled to Chile to visit new customers and a new commodity for Shared Interest, Fairtrade wine.

My journey started in Santiago city, capital of Chile. I was ready to travel through a long piece of territory and to explore as much as I could in a few days I had available. Chilean August was windy, rainy and cold (curiously similar to the Newcastle weather I remembered), but that was not going to stop me. After several hours by bus I arrived at Talca city which is 255km to the south of Santiago.

Talca is an important economic centre, particularly for wine production. It was here that I met with Fairtrade wine producers, Consorcio Vinicola de Chile (CVC). The group was established in 2003 through a joint effort between farmers and the Chilean Government. CVC had planned an intense day of activities, to showcase as much of their facilities as possible.

BY pAUL SABLICh, REGIONAL dEVELOpmENT ExECUTIVE fOR SOUTh AmERICA

As wine was a new commodity for Shared Interest, my first target was to understand the supply chain. CVC explained that the harvest (or ‘vendimia’ for its Spanish name) starts in February. Each farmer delivers their grapes to a specific winery, for classification and processing.

The grapes are carefully crushed to obtain juice, which is fermented, filtered and packed. The transformation of grape juice into wine varies depending on the grape variety, the final product and the quality requirements. For white wine, it is around 6-8 months and for red wine, between 1-2 years (or more). Consequently, the harvest production of a year will tend to be sold during the following 2 years.

But why is it important to know this? Because the characteristics of our lending products, in that our pre-finance is usually repaid in less than a year, did not properly fit the unusually long supply chain associated with Fairtrade wine, and we needed to determine the best way to support CVC and other wine producers with our finance.

fAIRTRAdE WINE!

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SAY ChEERS WITh

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After visiting CVC, I reported back my findings and Shared Interest decided to run a pilot project for a new financial product that matched the unique circumstances associated with the wine supply chain. Flexibility and adaptability were particularly crucial if we were going to work with CVC, as they were in high need of working capital resources, which is completely understandable considering they paid their farmers for the grapes nearly two years before the processed product was sold!

During the research period, we established contact with Ehrmanns. Interestingly this importer, established in 1875 in the UK, is considered one of the leading wine suppliers in the country. They have a wide variety of wines sourced from nearly 25 suppliers from 12 countries across the globe, and we were thrilled to discover that they were willing to support CVC. Finally, we were ready to offer our finance to CVC, just in time to help them pay their members.

As part of my initial visit to CVC I was asked by the members, who were proud of the high quality of their wine, to take part in a wine tasting session. It was a great experience to be able to share their wine and learn more about it. Personally, I can say that my favourite was a Carménère reserve, although the Sauvignon blanc, Cabernet Sauvignon and Shiraz were also quite delicious. Next time you plan to celebrate a special occasion, remember to say ‘cheers’ with Fairtrade wine!

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Quarterly Return is the newsletter of Shared Interest.

Shared Interest Society Ltd is a fair trade lending organisation which is a member of Co-operatives UK. It uses the pooled investments of its members in the UK to effect real and lasting improvements to people’s lives in the developing world.

Shared Interest Society Ltd is registered with the Registrar of Friendly Societies, number 27093R.

The Directors decide on what the interest amount will be, if any, after the end of the financial year when financial results for the past year are known. From 1 October 2011 the interest rate has been 0.5%.

QR is printed on paper from sustainable, well managed sources certified by the Forest Stewardship Council.

CONTACT USShared Interest 2 Cathedral Square Groat Market Newcastle upon Tyne NE1 1EH

0191 233 [email protected]

We constantly challenge ourselves on how to improve delivery of these aims and in regard to the issue of “ensuring prudent financial controls” the Audit Committee this year concluded that it would be appropriate for Shared Interest to add some internal audit resource to the process of assurance that controls are robust and operate as planned. The work of the internal auditor (which is being contracted to a local firm of Chartered Accountants, Ryecroft Glenton)

will complement the work of the external auditors and look in more detail at the controls in place, probing for possible weaknesses or omissions. Their work will be reported back to the Board through the Audit Committee. It should be noted that this development does not signify a concern that there are unidentified problems, merely that the Society has reached a point of sufficient scale and complexity that a small amount of internal audit work such as this is appropriate.

REfLECTING ThE pRINCIpLES Of STEWARdShIp ANd ENVIRONmENTAL SUSTAINABILITY

Members may recall that Objective Five of our Social Accounts is: “To conduct our business in a manner which reflects the principles of stewardship and environmental sustainability”. Within this there are three key activities, the second one being Activity 2: Managing liquidity and operating costs and ensuring prudent financial controls.

Last year, Shared Interest introduced its first ever gift option. Members and non-members alike are now able to open accounts of behalf of their loved ones as gifts for special occasions such as weddings, christenings and births.

As Christmas approaches we wanted to show how you can open up a whole new world for someone you love. The account operates exactly the same as your Share Account. You would open the account with a minimum of £100; the account would then transfer to your gift recipient allowing them to get involved in helping fair trade farmers and handcraft producers across the globe.

A GIfT ThAT ChANGES LIVES Of fUTURE GENERATIONS

You can download an application form at www.shared-interest.com/gift-pack alternatively, you can call 0191 233 9102 to request an application.

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A gift thAt chAnges lives of future generAtions

WITHTHE GIFT

HEART

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Do you know someone who is looking for a special gift that is a bit different? Why not let them know about the Shared Interest Gift Pack?

By passing on a postcard you could help someone to open up a whole new world for someone they love.

Thank you for your continuing support.

The Shared Interest Team

WITHSOUL

THE GIFT

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WITHTHE GIFT

FEELING

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Looking for a meaningful gift that will change lives of future generations?

Some special occasions happen once in a lifetime but the Shared Interest Gift Pack lasts a lifetime and beyond.

Gift someone a Share Account and they can get involved in helping fair trade farmers and handcrafters across the globe.

As they unwrap their pack expressing your own personal message, an amazing world of discovery unfolds.

Gift Packs are perfect for weddings, christenings, births and other celebrations. A Shared Interest Gift Pack opens up a whole new world for someone you love. Send yours today, and tomorrow the adventure begins…

0191 233 9100www.shared-interest.com/giftthree

A6_Insert_FEELING_VA.indd 2 16/05/2013 09:49

Looking for a meaningful gift that will change lives of future generations?

Some special occasions happen once in a lifetime but the Shared Interest Gift Pack lasts a lifetime and beyond.

Gift someone a Share Account and they can get involved in helping fair trade farmers and handcrafters across the globe.

As they unwrap their pack expressing your own personal message, an amazing world of discovery unfolds.

Gift Packs are perfect for weddings, christenings, births and other celebrations. A Shared Interest Gift Pack opens up a whole new world for someone you love. Send yours today, and tomorrow the adventure begins…

QR89

0191 233 9100 www.shared-interest.com/gift-pack

Looking for a meaningful gift that will change lives of future generations?

Some special occasions happen once in a lifetime but the Shared Interest Gift Pack lasts a lifetime and beyond.

Gift someone a Share Account and they can get involved in helping fair trade farmers and handcrafters across the globe.

As they unwrap their pack expressing your own personal message, an amazing world of discovery unfolds.

Gift Packs are perfect for weddings, christenings, births and other celebrations. A Shared Interest Gift Pack opens up a whole new world for someone you love. Send yours today, and tomorrow the adventure begins…

0191 233 9100 www.shared-interest.com/gift-pack

Looking for a meaningful gift that will change lives of future generations?

Some special occasions happen once in a lifetime but the Shared Interest Gift Pack lasts a lifetime and beyond.

Gift someone a Share Account and they can get involved in helping fair trade farmers and handcrafters across the globe.

As they unwrap their pack expressing your own personal message, an amazing world of discovery unfolds.

Gift Packs are perfect for weddings, christenings, births and other celebrations. A Shared Interest Gift Pack opens up a whole new world for someone you love. Send yours today, and tomorrow the adventure begins…

0191 233 9100www.shared-interest/giftone

V&A_Insert_HEART.indd 2 11/02/2013 14:07

Looking for a meaningful gift that will change lives of future generations?

Some special occasions happen once in a lifetime but the Shared Interest Gift Pack lasts a lifetime and beyond.

Gift someone a Share Account and they can get involved in helping fair trade farmers and handcrafters across the globe.

As they unwrap their pack expressing your own personal message, an amazing world of discovery unfolds.

Gift Packs are perfect for weddings, christenings, births and other celebrations. A Shared Interest Gift Pack opens up a whole new world for someone you love. Send yours today, and tomorrow the adventure begins…

0191 233 9100 www.shared-interest.com/gift-pack

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Looking for a meaningful gift that will change lives of future generations?

Some special occasions happen once in a lifetime but the Shared Interest Gift Pack lasts a lifetime and beyond.

Gift someone a Share Account and they can get involved in helping fair trade farmers and handcrafters across the globe.

As they unwrap their pack expressing your own personal message, an amazing world of discovery unfolds.

Gift Packs are perfect for weddings, christenings, births and other celebrations. A Shared Interest Gift Pack opens up a whole new world for someone you love. Send yours today, and tomorrow the adventure begins…

0191 233 9100www.shared-interest.com/gift

PostcardSOUL.indd 2 01/02/2013 15:40

QR89-postcards.indd 2 30/09/2013 10:54:44