Road to Becoming a Founding Member!
The payment plan option allows you to make a $50 monthly installment toward your $200 full equity share. Until we receive your full $200 Equity Share, you waive the right to vote or participate in the patronage refund program. If for any reason this installment plan would create financial hardship for you, please contact us and we'd be happy to discuss other options. If you want to become a member, we want to help make that happen!
Ownership in the co-op is voluntary and is open to any individual 18 years or older, who is willing to accept the benefits and responsiblities of ownership.
1. The member-owner may vote in Co-op elections and ballots. Proxy voting is permitted.
2. Any person in the household in which the member-owner resides may use the membership, but only the member-owner has voting rights.
3. The member-owner will notify the Co-op if a person joins or leaves the household if that person is to have or has had Co-op member-owner privilege.
4. Member-owners shall inform the Co-op of change of address.
5. Only those member-owners who have paid in full will have voting rights and access to the patronage rebate program.
6. The Board or Management of the Co-op store may define discount or benefit programs that may be altered or discontinued at any time at their discretion.
7. A patronage refund will be paid to the member-owner when the Co-op becomes profitable. The amount of the patronage refund will be in proportion to the amount of patronage by that ownership.
8. Shares are entitled to no dividends, will not be redeemable for more than their issuing price, and may be redeemable for less, or nothing, depending on the Co-op’s finances.
9. Patronage refunds must be reported to the IRS as they require.
10. As with any start-up enterprise, owner equity is subject to risk including the risk of loss. Member-owner equity is subordinate to all other debts of the Co-op.
11. If there is no patronage from a member-owner’s account within one fiscal year, the ownership shall go into inactive status. The ownership will be reactivated once patronage continues.