In meeting operating costs, the primary source of revenue is from member fees and provision of services.
Annual membership of the Co-op is available for individuals at $10 per month or $100 annually with a $30 joining fee. Commonwealth concession card holders receive a 50 per cent discount and children under 18 years of age receive free cover under their parent or guardian’s membership. Free membership is available to community members in need and is assessed on a case-by-case basis in partnership with local community service agencies.
In FY14, NHC operated its way into positive equity, registering a profit and generating a turnover of $5.1M – a growth of 34 per cent on the previous year’s turnover. Successively in 2016 and 2017 the turnover has increased to $8.3M and then $9.5M respectively.
Resources to support growth and development
The success of NHC is in part due to its ability to harness a range of resources both internal and external to the co-operative. Figure 4 describes the different types of resources utilised by NHC including financial, relationship, human, intellectual and manufactured resources.