From the Board: Invitation to Owners Financial Open House
You Own a Grocery Store, But How?
When I first began shopping at a local food cooperative about 30 years ago, I had vague ideas why the store was different, none of which centered on who owned it and how it was financed. It wasn’t until I purchased my $100 ownership share of Menomonie Market 15 years ago did I begin to understand what co-op ownership means, and my responsibility in that ownership. On top of that, I learned the truly amazing history of our co-op. Our story begins with local people and their commitment to an idea that has blossomed over time to become the cooperative we all know and love and own.
End of story – No. Our big beautiful store and our big beautiful Ends Statement to “be central to a thriving healthy community”, comes at a cost. Our co-op financing is complicated to say the least. We have debt, a mortgage, Class C stock shareholders, New Market Tax Credits poised to unwind, and 2,600 owners (the owners are the best part of this!). There’s more to this story than I can explain here…
Join us on Saturday, March 16th at 10:00 A.M. at the Menomonie Market classroom for a presentation on our co-op’s financing. We’ll talk about the decision-making tree, the responsibilities of the General Manager, the board of director’s role in overseeing our fiscal health, our sales growth and projections, and what every co-op owner can do to ensure Menomonie Market and our community continue to thrive.