Mary, an anti-poverty development worker and activist with two young children, wanted to be a part of SCEES*** and invested £500.
“I have worked for 20 years in charities and councils seeking to improve social inclusion and tackle poverty. Fuel companies are terrible for the poverty premium – the additional costs people on low incomes pay for the same things as better-off people. So I’m all in favour of schemes helping to change that situation.
“My investment was very small – family life with high childcare costs means there are never chunks of money going spare. So it wasn’t really about the interest, it was about having a stake in it, and being one of what I hoped would be a huge number of small-scale investors living nearby, rather than a large number of big investors from far away. I really wanted to be part of it.
“My job was finishing so I was a bit hesitant about tying up my savings this way, but was reassured that I could probably withdraw my investment if I really needed to. In my work I recommend Credit Unions as a way of supporting a good cause without actually spending anything – your money remains your own. SCEES seems similar to me: the cash you put in is still yours, it’s just hidden away, helping good things happen.”
***Just before we launched the Gower Regeneration share offer, we spoke to a few investors in the last share offer Gower Power co-ordinated, Swansea Community Energy & Enterprise Scheme (SCEES). The £425 SCEES share offer had to close early as it was oversubscribed by £40k.