Friday, 21 September 2012 14:07
Stores - General
As GreenStar member-owners we will soon vote yes or no on a proposal to change our financial relationship with the Co-op.
This proposal would introduce a patronage dividend system to replace the 2% discount that every member receives at the register. The aim of the proposal is to help the co-op increase equity to support expansion projects.
Want to know more? Read the Proposal
Patronage Dividend – Preparing GreenStar for a Strong
and Exciting Future
By Alexis Alexander,
What an exciting time for GreenStar! We're an extremely successful natural foods cooperative with an outstanding reputation in our local community and beyond. Our success is directly attributable to all of us, the dedicated member-owners supporting GreenStar through our capital contributions, patronage and commitment.
Why I Don't Support
By Dan Hoffman,
NOTE: This article does not necessarily reflect the opinions of other members of the Council.
Four years ago, GreenStar's Council asked members to approve Bylaws amendments that would have replaced the 2% discount all members receive at the register with a "patronage dividend" system. The proposal didn't receive the required two-thirds approval, so it failed. I opposed this proposal in 2008, and remain unconvinced that it's the right approach for GreenStar, now.
By Joe Marraffino, Finance Manager
If the cooperative is healthy and growing, why does it need more equity?
GreenStar has experienced significant growth in the past several years. We measure that growth in several ways, but one telling way is sales per square foot. Essentially this is the speed at which we have to restock the shelves (from a worker's perspective), or the number of people elbowing in to reach adjacent jars simultaneously (from a shopper's perspective).