a member (customer owner) of The Co-operative Group, sourcing its food through a UK-wide buying programme called the Co-operative Retail Trading Group.) From 2006, it bought home furnishings stock through the Anglia Buying Group, a national buying programme operated by Anglia Regional Co-operative Society. Chief executive Bob Jamieson served as a director of The Co-operative Group from 2005. Like most retail consumers' co-operatives in the UK, Lothian Co-op was incorporated as an industrial and provident society, regulated by the Financial Services Authority. Ownership and governance Lothian Co-op was at the time of its merger owned by 65,000 consumer members, who invested in equity shares, with share balances averaging £12 each, and earning 3% interest per year. It did not pay a patronage dividend to members, though each year around £90,000 of profits was distributed to local causes as “Community Dividend Grants”, and taxable profit was re-invested in the business. A voluntary president and board of directors were elected from among the members holding at least four shares, on a one member one vote basis; the board supervised the chief executive and management. Like many UK listed companies and co-operatives, the board had an audit sub-committee responsible for internal controls, following the 1999 Turnbull Report. References External links History at Lothian Co-op website — including a family tree showing the foundations and mergers of all predecessor co-operatives (via Wayback Machine) Annual reports and financial statements Co-op unveils £5m store proposal — construction in Castle Douglas, BBC News Co-op Travelcare in Scottish move (2000) Tranent – Coal, Co-op & Community — online exhibition of East Lothian Co-operative Society, by East Lothian Council Museums Service Consumers' co-operatives of the United Kingdom Companies based in the Scottish Borders Retail companies established in 1839 Retail companies disestablished in 2008 Former co-operatives of the United Kingdom Defunct companies of Scotland 1839 establishments in Scotland 2008 disestablishments in Scotland Co-operatives in Scotland Retail companies of Scotland Defunct organisations based in Scotland Defunct retail companies of the United Kingdom