Co-op Newsletter February 2018
As I write this month’s newsletter, I’m writing from the road. My husband and I are on a trek across the US. Along the way, I’ve been delighted to see a proliferation of co-ops all across the country. On Sullivan’s Island in South Carolina, I purchased snacks at what may be the tiniest co-op in the land. And here in Tucson, we shopped for metaphysical stones at the 5th Annual Miners’ Co-op show. It’s exciting to see the cooperative spirit spreading to such an extent!
As we approach the end of the fiscal year, the board would like to remind members of the new policy which will be going into effect as of April 1: Patronage Dividends. From that time forward, rather than the old up front discount at the register, dividends will be assessed at the end of the fiscal year.
How did we get here? From 2016 into 2017, the board began looking into this new, sustainable method of providing benefits to members. We became convinced it would be a good change for the future of the Co-op. To educate members and also elicit feedback, we reached out to membership with an evening informational meeting and also through in-store tabling. As we approached last year’s annual meeting, we put the proposal to a vote and were happy to report the change received overwhelming support.
We feel the Patronage Dividend model of profit sharing is an important part of our overall strategy for pursuing possible expansion.