One of the principles of cooperative development is Member Economic Participation. We cannot rely solely on funds from financial institutions. Thirty% of our start up costs need to come from our members.
There are two ways to contribute to the start up and success of Fairbanks Community Cooperative Market (Co-op Market). One is to become a member and the second is to participate in the member loan program.
Membership means that you are a part owner of the food co-op. Founding memberships in Co-op Market are $200. This is your one-time capital investment in the co-op, and helps to make this enterprise possible. The Co-op Market does not sell shares.
For those on a budget, membership can be paid in quarterly payments of $50 over one year or quarterly payments of $25 over two years.
A member must have paid the full capital investment of $200 in order to vote in the annual meeting. There is one vote per membership.
Democratic Member Control is another of the cooperative principles. In the Co-op Market, the profits belong to the members. Each year decisions about use of those profits will be taken to the membership for vote at the annual meeting.
Benefits of Membership
Food co-ops typically have a benefit package for their members, which MAY include:
• a discount at the register
• member specials days
• member-only discounted items
• patronage refunds (dividends) in profitable years
• check overwriting privileges
• discounts for bulk orders
The Co-op Market board of directors will create the best benefit package for our members, that is financially feasible for the cooperative.
Right now members who pay the full $200 can receive the corporate rate at Sourdough Fuel for housing fuel (auto fill customers only).
Membership can be sold back the co-op. If you move away or decide you don’t want to remain a member most of your capital investment can be returned to you.
Memberships are by household; however, more than one membership can be purchased in a household if you so choose.
Please send your check to:
Fairbanks Community Cooperative Market
PO Box 72637
Fairbanks, AK 99707-2637
Or use the paypal link on our website. Thank you!
II Member Loan Program
A program for economic participation through a member loan is currently being developed by the finance committee and will be launched when our business plan is complete.
If you are interested email firstname.lastname@example.org or call 457-1023