How much does a membership cost?
Member shares are $25 each and members must purchase 12 shares within a 3-year period to remain in good standing. The maximum amount allowable under California Co-operative’s Law is $1,000. This amount secures serious “buy-in” by member owners, and provides necessary operating capital to the Co-op. It is not a subscription or a recurring fee. This one-time membership conveys membership benefits to all members of the household and only one membership share may be purchased per household.
Is there a payment plan for memberships?
Yes. We encourage full payment however if payment in one lump sum is not possible then payment may be made over a period of up to three (3) years. If that isn’t possible then make another proposal. Full member benefits start with the first payment.
Is there any special arrangement for students?
Students are encouraged to use the payment plan.
What constitutes a household?
People living at the same address. They don’t have to be related.
Do single member households pay the same price for a share?
Yes, because when one joins a Co-op as a member one is buying a portion of the business.
Can a person own more than one share?
No. However, if a person wants to help the Co-op by providing additional financial assistance, one may make a loan or gift to the Co-op.
Will each member of the household be able to vote when it comes to electing Directors or other Co-op business?
There is one vote per share so only one vote will be allowed for each household.
If I move or just decide to quit the Co-op do I get my money back?
A member’s voting share is returned to the Co-op when membership in the Co-op is terminated. The former member either receives additional non-voting shares in exchange or receives a refund of his or her original investment depending on the financial state of the Co-op. The Board of Directors determines the conditions under which either action is taken so that the remaining members’ interests are protected and the former member is treated fairly.