PATRONAGE DIVIDEND SYSTEM
MEMBER VOTE BEGINING OCTOBER 25
The Board is proposing to implement a patronage dividend system for The Coop. The system would allow us to re-allocate some of our end of year profits—money that otherwise would be paid as taxes! This option is a benefit open only to cooperatives, as a way of redistributing profits back to the membership. Though the amount any member owner might receive is small, the cumulative effect of bringing thousands of dollars back into our community is significant. In order to make this change, a quorum of the membership must vote whether to amend our Articles of Incorporation to include provisions governing how the system would be implemented. And because our original articles were actually filed under the wrong statute 42 years ago, this also gives us the opportunity to resolve that old history.
A 25 day voting period will begin October 25, 2014. Members should look for an email with instructions for voting online. Alternatively, members may vote by paper ballot in the store during the voting period.
FOR MORE INFORMATION
Download and read the full text of the proposed and existing Articles of Incorporation.
Find answers to frequently asked questions about Patronage Dividends:
Attend a Special General Meeting on October 25, 2:15pm-4pm at the Senior Center/Rec Center in uptown Port Townsend. All members are invited to come and learn more about the proposal.
Talk with members of the Board and/or the GM in the Store Alcove during the following days/times: Friday Oct 24, 11am-2pm, Monday Oct 27 2:30-5:30pm, Saturday Nov 8 2:30-5:30pm, Monday Nov 10 2:30-5:30pm & Monday Nov 17 2:30-5:30pm.
Review an article on Patronage Dividends from Board Secretary Lisa Barclay (originally published in the Spring 2014 Commons):
Read an “opposing view” submitted by a concerned co-op member:
ACTIVE MEMBER BY-LAW CHANGE APPROVED
At the Board Meeting Tuesday October 7, 2014 the board voted to adopt an amendment to Article II Membership and Article VII Capital of the By-Laws. The amendment updates and clarifies the definition of “Active Member” status, which determines eligibility to vote in co-op elections. These changes will be in effect for the upcoming Patronage Dividend vote beginning October 25th.
- Voter eligibility will be determined at the end of the day before voting begins. This is the biggest change from our previous policy. Members will no longer be able to pay CI during the voting period to become eligible.
- Members will need to have shopped at The Food Co-op at least one time during the previous 12 months in order to be eligible to vote.
Thank you for taking the time to be an informed and engaged member of the Food Co-op!
Members may contact the board at email@example.com.