As a New Co-op Owner....
Some Shopping Details
When you shop at the Co-op, it speeds things up at the register and makes it easier for the cashier if you have your key tag with you. You can put it on your key ring, or tape or glue it to one of the cards you carry in your wallet so that the barcode can be scanned at the register. Your Co-op number is linked to your owner account and to any patronage dividends the Coop might be able to pay at year’s end. If you lose it, we have one extra key tag for you in our files. Please contact us if you lose your card. If you also lose your duplicate card, we may be able to replace it for a fee.
Equity is assessed annually, and your membership year begins when we process your membership application. If possible, please pay your equity when the cashier mentions that your annual investment is due. If you choose not to pay your equity, you will no longer be able to receive benefits. Your purchases will not be attributed to your patronage dividend until you pay at least $20 towards equity. Also, you will forfeit your equity if your owner account remains inactive for too long. So, it is best to stay current with your equity investments.
If you tend to use a debit or credit card to pay for your purchases, know that you can keep the costs to your Co-op lower when you use a debit card. Or--even better--when you buy rev. 4/09 yourself a Co-op Gift Card, use your debit card to put maybe $100 or $150 on the Gift Card and then use the Gift Card when you shop. Since the debit card costs the Co-op a fixed amount each time it’s used (instead of a percentage), you save the Co-op money and speed your way through the check-out line. Ask your cashier how to get a Gift Card. (Also, you may want to purchase green Gift Cards as gifts for friends and family.)
Equity
We have switched to an equity system. This means that owners no longer pay annual
membership dues. Instead, owners invest equity in the Co-op, which is treated very
differently than dues. In order to become a fully-vested owner of the Co-op, owners will
need to invest a total of $200 in equity. These payments may be made over 10 years; thus,
the minimum annual equity investment will be $20. Some owners may choose to invest
their $200 all at once; others may choose to pay larger annual installments (in increments
of $20).
The equity system has tremendous advantages for both owners and the business. Owner
equity is not considered taxable income for the Co-op. In addition, this money will be kept
in a separate account and will only be used by the Co-op for major capital expenditures,
such as buying equipment. This equity is refundable to the owner if s/he chooses to leave
the Co-op. Most importantly, owners can now be confident that their money is truly
contributing to the fiscal strength of their community-owned business.
Keep in mind that equity is refundable to an owner who no longer wishes to be a part of
the Co-op. You need to notify the Membership Coordinator in writing 30 days from the
time your annual equity payment is due. Note, too, that if you choose to have your equity
refunded and then wish to re-join at a later time, you must re-join at the same investment
level as when you left. There is a $10 charge for redeeming your capital certificate
[refunding your equity].
For Working Members:
If you would like to become a working member, please contact Eileen Mielenhausen at the store. We can schedule a time when sheI will give you a brief orientation and talk with you about jobs and shifts that might be appropriate. Working member orientation sessions are usually held on Wednesday afternoons.
New Owner Orientation
Gabrielle Wellman offers informal orientation tours of the Co-op once or twice a month.
These are fun and highly recommended, providing both information and a sense of the co-op
community. For more information, contact Gabrielle at 374-2140.
Co-op Principles
What Does It Mean to Be an Owner of the Co-op? Once you become an owner of this thriving cooperative business, it is helpful to become aware of the principles and concepts that underlie the whole co-op scene in the US. To this end, do check out essential co-op principles on this page (taken from the website of the Cooperative Grocer) to help you understand this unique business model.
We at the Blue Hill Co-op look forward to your participation in this thriving, community-owned business. As the Membership Coordinator, I am here to answer any questions you may have. Please call me at the store at 374-2165; send me an email at membership@bluehill.coop; or leave me a note on an owner comment form (ask a cashier for one). I am in the Co-op on Mondays, Tuesdays, Wednesdays, and Thursdays.
Sincerely,
Eileen Mielenhausen, Membership Coordinator
membership@bluehill.coop
