Ownership In the Co-op is Evolving
For several years, the Co-op Natural Foods has held the same ownership structure and investment requirements to participate in our Cooperative. Unfortunately, this system has long been outdated and needs an overhaul. After several months of research, discussion and council, the following proposal has been circulated for consideration by the Board of Directors of the Co-op. The proposal is summarized as follows:
- One share of Class A Stock issued per owner at a cost of $200.00 per share.
- The $200 value is payable all at once, or spread out in payments of $40.00 per year for five (5) years.
- The Stock is fully refundable is an owner decides to leave the Co-op (surrender of the stock certificate is required)
- Co-op owners will not qualify for patronage dividends (if declared by the Board of Directors) until the full $200 has been paid.
- Current stockholders can upgrade to the new stock structure when their next annual fee is due. However, instead of an annual fee of $36, they can pay $4 additional dollars ($40 total) towards the new stock price of $200.00.
- Patronage dividends may be declared, at the discretion of the Board of Directors, in profitable years.
- The total amount allocated to patronage dividends, and distributed to the owner base, will be based upon the amount owners patronized the Co-op and calculated as the patronage percentage of contribution to co-op profitability.
- Patronage dividends will be distributed in the form of store credit issued on the account of the owner, to be used at the Co-op.
- The goal of the Board of Directors of the Co-op
- You are a part-owner of our fantastic, neighborhood natural foods grocery store.
- You get to enjoy all of the financial benefits that comes with ownership, including patronage dividends when the Co-op is profitable and a patronage dividend is declared by the Board of Directors, owner-only sales on several products throughout the store every month, owner-sales in specific departments every week, and 20% off certain bulk special orders.
- You get access to owner-only events hosted by your Co-op.
- You get discounted entry to events hosted by partner companies.
- You receive coupon books and sales fliers directly in your mail weeks ahead of public release.
- You receive the right to vote for the Board of Directors.
- You receive the right to run for the Board of Directors.
On Wednesday August 9th at 6:30 PM at Our Saviors Lutheran Church, the Co-op Board of Directors will consider a change to its equity structure. Owners are encouraged to attend the meeting. Owners will have an opportunity to comment on the proposal.