What is a Co-op?
A cooperative (co-op) is a business voluntarily owned and controlled by the people who use it– its shoppers are its owners. It is operated primarily for the benefit of its owners to meet their mutual needs.
A food co-op is a grocery store that is owned by the people that shop there, as opposed to outside investors. Becoming a member-owner not only provides co-op equity to open the store, it also provides a variety of benefits - like member discounts, dividends, and more. A food co-op allows decisions about which products they carry and where profits go to be made by its members, not an outside corporation. In the case of a food co-op, this often means store coupons or member dividends, or other benefits that make shopping at the co-op more affordable.
However, you do not need to be a member to shop at the co-op!
What Are The Perks To Being An Owner?
Some perks that food co-ops provide to their members:
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Monthly coupons
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Patronage dividends in profitable years
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Anytime discounts (ex. Get 10% off any six transactions during the course of the year)
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Owner discount months (ex, Get 10% off a transaction of your choice during February, March, and September)
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Opportunity to buy certain products in bulk for a discount
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Opportunity to vote for a Board of Directors and cast a vote on other food co-op business
All co-ops are guided by the following values:
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Voluntary and open membership - everyone is welcome to join and participate in the co-op. However, you do not need to be a member to shop at most co-ops.
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Democratic member control - members elect a board of directors, and each member gets a vote to set policy and make decisions.
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Member economic participation - members make a one-time equity payment to join the co-op, which helps provide resources to start and run the co-op.
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Autonomy and independence - co-ops are controlled by their members, which results in a business that has greater control on how it is operated, how profits are reinvested, and which types of products are carried.
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Education, training and information - co-ops are committed to provide education and training for members, elected representatives, managers and employees
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Cooperation among cooperatives - each co-op is part of a larger network of co-op business models who all exist to serve their members’ and communities’ needs.
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Concern for community - co-ops are operated by and for the community in which they are located.