Frequently asked questions

Are there any restrictions to becoming a member?

Members must be 16 or over. Membership is open to any person or organisation that supports the objectives of the co-operative and agrees to abide by its rules. You can download the rules of the co-operative from our website https://investage.coop/documents/

What’s the difference between being a member and a shareholder?

In practice there is no difference. Anyone who buys at least 100 x £1 shares automatically becomes a member of the co-operative.

What voting rights do I have as a shareholder?

All members have one vote, regardless of how many shares they have. Members will have the right to attend any General Meeting and to take part in the election of the members of the board, by both proposing and voting.

What is my liability if I invest?

Your liability is limited to the value of your share account.

How much can I invest?

You can invest any amount between £100 and £100,000 in shares. You must bear in mind that your investment is fully at risk. If the business fails you may lose some, or all of the money you have invested.

Will my shares increase in value?

Your shares cannot increase in value above their original share price (£1). This applies to all co-operatives. However, in some circumstances the share value can fall (eg, if liabilities exceed assets and the business fails).

Can I sell my shares on?

No. You cannot sell your shares to someone else. The only way to recover their value is to apply to withdraw your shares.

What happens to my shares when I die?

Under current legislation you have the right to nominate any other person or persons to whom shares can be transferred at the time of death.

How can I get my money back when I need it?

You must apply in writing to the board to withdraw some or all of your shares, giving 90 days’ notice. The board has the right to refuse requests for the withdrawal of shares if this would damage the financial stability of the co‑operative.

Will my shares attract interest?

Yes. InvestAge intends to pay interest at a rate of up to 3% when the business is profitable. Each year the board of directors will decide what interest rate should be paid on share capital based on trading results. It is your responsibility to declare these earnings to HMRC.

Is it possible to donate money to InvestAge?

Yes. You can make a donation to InvestAge without becoming a member. Your donation would be used for the development of the business. The initial development was financed largely by donations from founder members. As we are not a charity it is not possible to claim Gift Aid against your donations.

Is InvestAge only for older people?

No! It is a co-operative of people of all ages who are thinking about later life. The vision it expresses is that later life will be better for all of us, whatever our age, if we can share a positive idea of what it can be like, believe in our capabilities and plan ahead.

How will InvestAge be different from other later-life organisations?

InvestAge will not duplicate existing work and services provided by other later-life organisations. It will work alongside them, offering specific financial, practical and business support. InvestAge members will also identify local areas of need or potential opportunities for projects. InvestAge is a co-operative and therefore its future direction will be decided democratically by its members.

InvestAge is a multi-stakeholder cooperative (No. 4604) registered with the Financial Conduct Authority under the Co-operative and Community Benefit Societies Act 2014. It is a member of Co-operatives UK and the UK Sustainable Investment and Finance Association.

Registered Address: 13 Saville Street West, North Shields, NE29 6QP

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