Richard Turnbull with Coota Times representative Tim Warren.

The Cootamundra Times have thrown our support behind the Cootamundra Co-Op, investing in the cause and supporting local business.

The Times invested $1000 towards the Co-op start-up capital goal of $750,000, in an effort to get the Co-Op built. With just under two weeks to go in the initial timeframe, the Coota District Co-Op have raised approximately $370,000 of start-up capital and require a further $380,000 to reach the initial goal.

The Co-Op has 520-odd members that have invested so far. They will be holding a member’s meeting on Monday, December 6 at 5:30pm at the auditorium at the Cootamundra Ex-Services Club to discuss the progress of the campaign and the process going into the future. Members are advised to RSVP by Friday, November 26 if they can attend the meeting. Richard Turnbull, Board Secretary at the Coota District Co-Op said the meeting would be beneficial for members to attend and have their say.

“That’s to get guidance from the members of the Co-Op as to how they want us to proceed,” Richard said. “The first option is that we continue to proceed the way we’re going to reach the target of $750,000. “The second option is lower the figures of the start-up. Those figures were predicated on moving into the target building and the target building has been sold.

“What’s happening now is the board are looking at where do we go moving forward. “The deadline that the board set was purely an option or an opportunity for the board to review how we have gone after six months.” The first six month meeting is coming up in December, where the members can decide to continue for the original $750,000 target, finding a smaller and cheaper premises for the Co-Op, or looking at reducing general start-up costs of the Co-Op.

The last and worst-case scenario option is for the Coota District Co-Op to come together and accept that the community isn’t fully behind the concept and for all the investment money to be refunded. The Times hopes that their small gesture can inspire those with plenty of capital in the Cootamundra region, to invest quickly if they already haven’t. Tim Warren