Colne & Trawden Model Building Society: Prospectus
Whilst researching material related to the Colne & District Co-op, we came across an interesting leaflet. In fact, it was a prospectus for the Colne & Trawden Model Building Society and it contained some very interesting material (and seemed to have some sound advice for the then working classes). When looking at the principles on which the various Co-operative Societies were formed, one can’t help but admire their forward and radical thinking.
“This society has been established for the purpose of enabling its Members to capitalize their rent, thus in a few years become their own landlords. … instead of paying the same to the landlord, everyone may become the proprietor of his own house.”
The prospectus for joining the Society included catching titles like :-
“Why not purchase your house with the rent you are paying?”
“HOW TO SUCCEED IN LIFE”
Quite clearly, they offered some fantastic benefits for their members … something, perhaps, that we would take for granted in today’s world.
We note that they use as an example, a house purchase price of £300. That doesn’t sound like much nowadays, but at that time, it must’ve been a small fortune! I recall my grandfather saying he bought a large house on Kings Causeway, Brierfield in 1962 for a princely sum of £500! So, £300 back when these Societies were a relatively new idea this must’ve been for a mansion! Either way, this was a sort of ‘people’s mortgage’ and would no doubt have been a bit of a revolution for the working class.