Communities harness the people power of co-ops to stave off privatisation

08 December 2025

In Castlemaine, a powerful display of community action has brought an historic goldrush-era building into local hands, as more than 300 residents banded together to purchase “the Hub” through the Castlemaine Community Investment Co-operative. Motivated by concerns about gentrification, rising property prices and the desire to protect valued community spaces, locals raised nearly $2 million without relying on a bank – proving the strength of economic democracy and people-powered investment.

This grassroots victory reflects a growing national movement, with more regional communities turning to co-operatives to safeguard essential assets such as pubs, aged care centres and food services. As BCCM CEO Melina Morrison notes, co-ops revive an age-old way of doing business together – channeling community capital, shared ownership and long-term stewardship. For Castlemaine, securing the Hub isn’t just a financial win; it’s a commitment to protecting place, purpose and community for generations to come.

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