Last month, the Boards of The Riverside Group and One Housing Group gave their approval for One Housing to join Riverside as a subsidiary, creating one of the country’s largest association groups, with over 75,000 homes.
It followed an intensive six-week customer consultation process across both organisations in which of those who responded, nearly half were in favour of the proposals, with only 12% against and the remainder being neutral. This means that of those expressing a view either way, four times as many were in favour as against.
London-based One Housing, the parent company to Baycroft, has joined Riverside as a subsidiary for up to two years and will retain its own subsidiary board. After that One Housing and Riverside will integrate into a single housing association with one Board and leadership team.
A series of initiatives are taking place across both organisations to mark the successful completion of the partnership and the two organisations have made a donation to local foodbanks totalling £75,000, representing £1 for every home in the new Group.
Carol Matthews CBE, The Riverside Group Chief Executive, said: “We know the rise in the cost of living is putting pressure on everyone’s household budget, and this is being felt acutely amongst many of our customers. In line with our shared social purpose, we want to do more to support our customers and those in greatest need. This money will be used to help fund the vital work of foodbanks supporting the communities we serve.”
Richard Hill, Chief Executive of One Housing added:
“At this time of year, the work of foodbanks is needed perhaps more than ever so this felt like a really appropriate way to mark our two organisations joining forces. Our commitment however goes far beyond this, and this should be seen as a down payment on one of the six key pledges we have made to our customers. Through this we will be investing an additional £2.5m each year to strengthen our communities, by funding initiatives which assist people into work and help them better manage their money, as well as funding other local projects.”
Carol Matthews added: “Clearly there is much more work to do to bring our two organisations together and that work will begin in earnest in the new year. For now, we would both like to thank all our colleagues, customers and partners who have contributed to the process and enabled us to lay these foundations for a future where both organisations will be better and stronger together.”