|
Become an Owner
We welcome new Owners to the Keweenaw Co-op.
Ownership is not required to shop, but Owners
enjoy added benefits and services. To become an
Owner of the Co-op, you invest in a share of
Co-op stock, a one-time $200 investment (payment
plans are available). This stock does not
increase or decrease in value and may be
redeemed if you choose to discontinue your
Ownership. Your investment in the Co-op provides
the capital needed to finance long-term projects
such as building improvements and equipment
purchases. This equity is our promise to each
other and a commitment to our community that we
value what the Keweenaw Co-op stands for and
what it provides for our quality of life.
What it Means to be an Owner
An Owner is defined as an active patron of the
Co-op, who has been accepted to Ownership by the
Board of Directors, and has acquired a share of
Membership Stock (one share of Co-op Common
stock). Two or more persons in the same
household may be included on the application,
however only one name can appear as the
designated shareholder on the Membership and
Subscription Agreement.
Payment Options
Payment plans are available for purchasing stock
over a one, two, and ten year period. Please
select the plan that minimizes the costs to your
Co-op, while still being financially feasible
for your family. Benefits begin with your first
payment.
-
Plan 1: Pay $200 in one installment*
-
Plan 2: Pay $50 every 3 months for a year
-
Plan 3: Pay $25 every 3 months for 2 years
-
Plan 4: Pay $20 a year for 10 years
* Plan 1 minimizes account maintenance costs
and maximizes equity per Owner.
Benefits
-
Owners begin receiving benefits upon first
payment toward the Membership Stock purchase
(as long as payment plan status remains
current).
-
As a stockholder you own the Co-op
-
Participate in the Co-op’s governance
-
Earn an Annual Patronage Refund
-
Special Order items
-
Discounts on pre-ordered cases
-
Use of the Co-op Community Room
-
Owner Appreciation Events & Extras
-
Triannual Newsletter / Circumspice
-
Owners Business Directory Listing
Responsibilities
Membership Stock Payment
Owners who are participating in a multiple
installment payment plan to purchase their
Membership Stock and have payments pending, must
be in good standing with their account in order
to receive Owner benefits.
Participate in Governance
Owners are entitled to all voting control of the
Co-op. Each Owner has one vote on each matter
submitted to a vote of the Ownership. Owners are
not required to exercise their voting rights but
they are encouraged to do so. The Board of
Directors, who act on behalf of the Co-op, are
elected by, and from, the Ownership.
Participating in governance assures the Co-op’s
accountability to its Ownership.
Provide Current Ownership
Information
It is an Owner’s responsibility to communicate
with the Co-op concerning changes to your
contact information. This can be done at the
store, by
email, by phone, or by written notification.
Owner capital, including capital stock,
patronage refund, and capital credits, will be
forfeited if an Owner cannot be located as
described in the Co-op’s Articles of
Incorporation.
Be an active Patron
Support your Co-op. The Co-op’s Board,
Management, and Staff encourage Owner input on
any issue that concerns you as a customer and
Owner. Call us, write to us, email us, or write
a note in the Customer Comments Notebook located
at the front checkout.
How to Invest
It’s easy to become a Co-op Owner! Download an
application packet or ask for one at the
store.
|
