Ownership

People's Food Co-op is owned by a growing number of individuals and families that have chosen to become owners. These folks have certain rights and responsibilities that come with ownership of the business.

MANY HAVE PURCHASED OWNERSHIP SHARES!

Current count: 409!!

Nothing will help us move toward our goal of a larger People's Food Co-op more than you joining our growing ranks of Owners. We are a community based grocer, and you are why we are here, and it is you that can make the difference by investing in the future of your Co-op.

Ownership Terms and Benefits:

  • Owner's rights and responsibilities, as outlined in the Bylaws are equal for each card-holding owner in good standing.
  • Special owners-only discounts
  • Discounted prices on items ordered in bulk or cases
  • 10% discount during Owner Days, held four times annually
  • Voting privileges for all elections and eligibility to run for the Board of Directors, see Governance for more information
  • Invitation to member events, dinners, and open meetings, including the Annual Meeting
  • Ownership in People's is not transferable
  • Owner benefits are for cardholders only, owners must proof of identity as requested by staff
  • PLEASE NOTE: In years when the PFC is profitable (once we've relocated and stabilized), owners will also receive a dividend based on their volume of purchases during a given year

If you are interested in becoming an owner of People's Food Co-op, please download and read the following materials, and feel free to contact Chris (492.6468) or come into the store with questions. Thanks!

  • A letter about the ownership structure...download
  • A statment of owner rights and responsibilities that needs to be signed and returned with every new ownership share...download
  • Our new owner handbook...download

NOTE: Share payments can only be made by check or cash, so we cannot take share payments online at this time. Thanks for your understanding.

OWNERSHIP RESTRUCTURE FAQ (Sept 2007)

To better inform all of you, here are some quick notes about the way the change will work:

1) There are three options for purchasing a share of People's: $10 per month for 25 months; $50 per year for 5 years; or $250 in one lump sum. Anyone may choose any of these options.

2) As long as you are current on your ownership share payment, you'll receive full ownership benefits.

3) Your share payment remains your money. So, any financial benefit you recieve (owner specials, special discount days, patronage rebates, etc.) is a return on your investment in the Co-op. And, if you'd like to leave the Co-op, you may petition the Board for all of your equity back.

4) There will no longer be a discount. In profitable years, you will receive a % of profits back based on your purchases during that year. Note that early on, as we move toward expansion, we'll retain all profits to aid in the project.

5) If you already own a membership that extends into 2008, you'll receive a letter in the next several months asking if you'd like to roll the pro-rated amount you've paid in for 2008 into the new structure, recieve the difference in store credit, or donate the difference to People's.

The reason for making this change is not to take away from you, our owners, but rather to continue to build a community-owned business that support a healthy, sustainable Kalamazoo. So, look for more information in the coming Coop Scoop, and please continue to ask for clarification if you have questions. Thanks so very much!

If you have questions, please do not hesitate to contact Chris Dilley.