Fund" which is financed through retained earnings to support the development of new social enterprises and co-operatives in the UK by investing in their share capital. Over £300,000 has been invested in this way, with beneficiaries including Torrs Hydro, Go-op, Westmill Wind Farm Co-operative and the Birmingham Student Housing Co-operative. Awards 2016: wins Growing Co-operative of the Year category at the 2016 Co-operative of the Year awards, run by Co-operatives UK. 2015: wins Best Consumer-facing Social Enterprise award at 2015 UK Social Enterprise Awards. 2014: Awarded Fair Tax Mark for fair tax behaviour. 2013: Finalist in Overall Social Enterprise of the Year category at the 15th Social Enterprise Awards. 2012: awarded the Green Award of trade body, The Federation of Communications Services, for the fourth year running. 2008: receives the UK Government-sponsored Enterprising Solutions Award for Best Social Enterprise 2008. Accreditations 2017: Gains accreditation to the Investors in People standard. 2014: In first trio of organisations accredited for the Fair Tax Mark, along with Midcounties Co-operative and Unity Trust Bank, and is accordingly named Fair Tax Pioneer. 2013: Accredited as a Living Wage Employer by the Living Wage Foundation. Strategy At the Annual General Meeting of 3 February 2018, the board presented a plan to boost sales to businesses by investing the co-operative's reserves and part of the members' share capital in updating systems and raising pay. Members voiced their concern about the risks involved and urged the board to be more transparent in its communication. At a Special General Meeting on 28 April 2018 members voted 136:50 for a motion supporting the strategy. However this was only after voting 202:17 to transfer the co-op's engagements to (i.e. merge with) Midcounties Co-operative Society, which has greater resources and the potential to cross-sell to its Co-operative Energy customers. Since both votes were open to all circa 11,700 members, the vote turnout was less than 2%. A confirmatory vote on the transfer of engagements was held on 12 May 2018 in Droitwich where it was passed by 75 votes out of 76. The transfer took place on 1 June 2018. Other history 1998: founded as SETCO (Social Economy Telecommunications Co-operative), incorporated as a company limited by guarantee. Initially, membership of the co-operative was reserved exclusively for other co-ops and charities. 1999: rule change opened membership to the general public in August. SETCO renamed itself The Phone Co-op and converted into a co-operative