Why do we need to reincorporate the Co-op?
When we started in 2008, it wasn’t practical to incorporate as an official Co-op so we have been operating as a regular corporation since 2009. Now we are big enough to justify reincorporating as a co-operative, which will allow us access to many Co-op specific resources, better wholesale pricing and a better tax rate.
What is an Equity Share and what does it cost?
An Equity Share replaces the membership dues we have had until now and is the members’ share of ownership in a Co-op. Our Equity Share costs $200 and can be paid all at once or at $20 per year over 10 years. One Equity Share covers a whole household allowing everyone in the household to enjoy member benefits at the coop, just as before.
If I am currently a member of the coop does my membership transfer automatically to the new coop?
Yes. You do not have to fill out a new membership application. Your membership will automatically be transferred.
If I have been a member of coop do my past-membership fees count toward my Equity Share?
Yes. Any membership payments you have made to the San Juan Island Food Co-op will be applied to your Equity Share. Any shortage below the $200 will remain and can be paid at the rate of $20 per year. If you have been a member for at least 6 years, your equity share will be all paid up and you will no longer need to make an annual payment.
Will there still be household or seasonal membership?
Household memberships will remain, with one Equity Share qualifying an entire household to enjoy member benefits at the coop. There will no longer be seasonal memberships.
What other changes are in store at the coop?
Improvements slated for the near future are: new produce display cooler, a face lift for the front of the building and a new POS system to speed up checkout.
If I have questions, who do I talk to?
You can send an email to firstname.lastname@example.org and someone will get back to you.