In-Store Hours: 8 am to 8 pm

Curbside Pickup: 8 am to 7 pm

Deli Hours: 8 am to 8 pm



Patronage Refund

What makes the Co-op different from a profit-driven grocery store is not a lack of profit. Rather, it is the underlying purpose of the Co-op and the way money earned is controlled and distributed. The Co-op does not exist to maximize profit, but to serve the Ownership and community by building a sustainable economy in which everyone can participate.

How do Patronage Refunds work?

At the end of the fiscal year, net income from operations is invested in the Co-op or returned to Owners, depending on the source of the profit and each Owner’s level of patronage. Income that is attributable to sources other than Owner transactions (i.e. non-owner transactions) is separated from those attributed to Owner transactions.

Income taxes are paid from non-owner transactions. Also, 10% of the net income is invested from these nonowner transactions into the Co-op’s Capital Reserve. Any remaining non-owner transaction income is allocated to the Capital Reserve.

Net operating income from Owner transactions is allocated to Owners as a Patronage Refund by dividing it among Owners based on how much each Owner purchased that year. According to the tax code that allows the Co-op to deduct Patronage Refunds from its taxable income, the Board must return to Owners at least 20% of the Patronage Refund in cash/coupon. The other 80% can be either returned in cash/coupon or retained as Owner Equity (Retained Patronage), based on the capital needs of the Co-op at any given time. This will vary by year.

Patronage Refunds will not affect Owners’ taxable income unless you are purchasing items from the Co-op for business purposes and deducting the purchases as business expenses.

Each Owner’s retained equity is their investment that remains in the Co-op for the future needs of the Co-op. When the Board believes it is fiscally prudent, they will set aside Co-op money to return Owner Equity based on the Board’s equity redemption policy.

NOTE: 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 a Owner cannot be located as described in the Co-op’s Articles of Incorporation. See the Articles of Incorporation and the Bylaws for more detailed information.



1035 Ethel Avenue
Hancock, MI 49930

906.482.2030 tel
906.482.7845 fax


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In-Store Hours: 8 am to 8 pm
Curbside Pickup: 8 am to 7 pm

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