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What are the benefits of a car share scheme?

For You

People have told us that the main motivation for joining a car share scheme is the environmental and health benefits it brings.  But there are some user  benefits which mean that access to a shared car when you need it is better than you owning your own car:

  • removes the hassle of car ownership:  POD arranges for MOTs, servicing, insurance, etc, so you don’t have to.  In addition, you don’t have to struggle/pay to use a car parking space near your house;
  • reduced costs:  the average annual cost to run a car is £3,800 per year and rising year on year, which is higher than using a POD car;
  • reduced unexpected car costs:  it’s easier to budget your costs with a car share scheme because you pay a regular, monthly user fee and know in advance how much you’re going to spend for a journey.  So no unexpected maintenance costs unless you have an accident in a POD car;
  • increased mobility:  residents without a car or who cannot afford a car, will be able to make journeys and reach destinations not possible with public transport;
  • saves space at home:  you can get rid of all that car repair/maintenance stuff hanging around the house/garage, as well as child seats, bicycle racks and mobility aids:  POD provides these for you;
  • modern hybrid/electric vehicle:  no more worrying about whether the car will break down during your journey:  POD cars are modern models, more environmentally friendly and regularly serviced and maintained;
  • opportunity to use a hybrid/electric vehicle:   if you haven’t used an automatic hybrid/electric car before, we will help you get started;
  • encourage active travel/use of public transport:  using a shared car makes you think twice about other ways to get to where you need to be, giving you that extra nudge to walk, cycle or get the bus/train when you can.

For the Community

At the local level, reducing car ownership and the number of local trips by car and increasing active travel journeys brings clear benefits:

  • reduced exposure to pollution:  at present, transportation is the number one cause of CO2 in Calderdale;
  • fewer road traffic injuries:  in 2023, 142 people were seriously injured and 12 people died on Calderdale’s roads. Our scheme will, at least locally, lead to fewer cars on the road, contributing to increased safety;
  • cleaner, more pleasant local environment, particularly in town centres:  by reducing the number of vehicles on the roads locally, we can contribute to creating less car-dominated town centres where greater space is given to other purposes that benefit local residents;
  • economic benefits from reduced traffic/congestion:  a reduction in the loss of working hours and increased productivity associated with fewer private vehicles on the road;
  • reduced demand for car parking:  by reducing car ownership, we reduce the competition for space to park cars. This is a key and often contentious issue in a steep-sided valley where space is limited and few houses have driveways.

An economically viable car club operating in the Calder Valley will:  

  • reduce car ownership:  our survey research with members of Hour Car (a previous car club in the area) shows that their scheme led to people not buying or giving up their cars. This has a clear economic benefit for local residents;
  • reduce car dependency:  by reducing the number of car owners, car dependency is reduced as people are less reliant on their privately-owned vehicles;
  • increase use of public transport:  research shows that car clubs result in reduced car ownership which has the knock-on effect of increasing public transport journeys;
  • increase active travel journeys:  it also has the knock-on effect of more journeys made on foot or by bicycle, with associated health benefits.

At the broadest level, this will mean that POD will make a major contribution to Calderdale’s Net Zero target by 2038.

How is POD run?

Community Benefit Society

POD is set up as a Community Benefit Society because this is a form of co-operative, the main purpose of which is to serve the interests of our local community - the Calder Valley.  The Society is registered by the Financial Conduct Authority as Calder Valley Shared Transport Limited, registration number 9379 under the Co-operative and Community Benefit Societies Act 2014.

POD has been set up as a Community Benefit Society because:

  • its main purpose is to serve the interests of our local community (the Calder Valley);
  • it is a co-operative;
  • it is a member-led organisation;
  • it is democratic:  one member, one vote, regardless of the size of investment;
  • it can raise investment via community shares;
  • profits are put back into the Society or used to benefit other community activities.

POD is a co-operative - the Society has adopted the International Co-operative Alliance’s co-operative principles of: 

  1. Voluntary and open membership
  2. Democratic member control
  3. Member economic participation
  4. Autonomy and independence
  5. Education, training and information
  6. Co-operation among co-operatives
  7. Concern for community
Who, what, how?

Membership - Anyone who invests in POD becomes a member of the Society.  Membership means that you have a say in the organisation and what it does and can put yourself forward for election to the Board of Directors.  Membership is separate from being a user of POD’s services:  you do not have to be a user to become a member/invest in the Society.

Democratic - POD is a member-led organisation.  Each member has an equal say and vote, for example at general meetings, regardless of how much they have invested in the Society.  A key vote at general meetings is when members elect a Board of Directors.

Community Shares - community shares are a specific type of share only available to co-operative and community benefit societies.  They are ideally suited to the needs of community businesses and entirely different to shares held in companies/traded on the stock market.  

  • When you buy shares in POD you become a member of the Society (Calder Valley Shared Transport Limited).
  • Shares are withdrawable, not transferable.  This means that you can only sell your shares back to the Society.  In addition, the Society can only allow withdrawals if it has sufficient trading profits and the Directors believe that the Society can afford to pay its debts at the time of the withdrawal and for a year after that.  So, there are no guarantees on when or if you will be able to withdraw your share capital.
  • Your shares do not go up in value:  if you invest £200 now, they will still be valued at £200 as and when you want to withdraw your shares.
  • The Society, subject to a member vote, is able to make interest payments to shareholder members who have invested in the Society.  Interest payments are an operating expense and must be at the minimum level required to obtain and retain the share capital needed to run the business.

Simply put, investing in POD is not a ‘get rich quick’ scheme!  It’s a social investment in a business that has been set up to benefit the local community.  Full details of our business plan, including anticipated interest payments and withdrawals, will be provided when we publish our share offer.

If you want to find out more about community shares, have a look at this short video and/or  The Community Shares Handbook, published by the Community Shares Unit.

Profit - The basic principle is that all the profits a community benefit society makes must be used to benefit the community.  This is often achieved by re-investing profits back into the Society’s activities.  Other ways of using profits might be to make donations to other organisations with the same or similar objectives or to invest in other co-operatives.

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