Patronage Refunds: Giving Back to Our Members
By Pat Burns, General Manager
As I’m writing this, we’re busy getting 10,399 Patronage Refund checks ready for our Members. These checks total over $968,000 that the Co-op is recirculating back into our local economy. Over 65% of our sales this last fiscal year were to our Members; a year ago, we were at just over 60% of sales to Members.
Our Patronage Refund program is one really tangible benefit of Co-op Membership. In just the past 4 years, we’ve recirculated almost $3,100,000 of our Cooperative profits (from sales to Members) by issuing over 33,000 Patronage Refund checks. If many of you are like me, I’m guessing that you use that money right here in our community. So this really is a unique attribute of cooperative ownership that benefits our neighbors as well as local businesses and non-profits.
You can learn more about this year’s Patronage Refund online at http://s.coop/patronagerefund. You’ll also be receiving detailed information about the Patronage Refund with your check; please take some time to read it and ask us if you have any questions! Please also remember that Patronage Refund checks are only valid for 90 days (this gives you until Friday, February 6, 2015).
We continue to offer a variety of ways (and one new way) that you can enjoy your check:
- Cash your check,
- Return your check to City Market to pay equity,
- Return your check to City Market to donate to Hunger Free Vermont, or
- Don’t cash your check and the proceeds will support our new Co-op Patronage Seedling Grants
We’re excited about the new Co-op Patronage Seedling Grant Program. This summer, a Member Grants Committee met to review 12 applications and recommended that the Board fund 5 projects totaling just over $20,000. If you’re interested in helping to fund these projects, you can choose to simply not cash your check. And throughout the next year, we’ll be sharing stories of the projects you have funded.
We really do appreciate your support of the Co-op each and every day. Supporting the Co-op by shopping with us (and providing your great feedback!) makes everything else we do possible and is a conduit for the great community work we’re all accomplishing together. Your Membership and your cooperative spirit fuel our success and allow us to partner with local food producers and community organizations to alleviate childhood hunger and strengthen our local food system. Thank you!