What does it mean to be an owner?
Cooperative Ownership
You could own the Grocery and be part of the decision-making process
Benefits of being an owner
VOTE
As an owner, you have one vote. You will have the opportunity to use that vote as we are in the planning stages of the Grocery to decide the location and services the Grocery will offer. You can use that vote at the annual meeting in October to vote for the Board of Directors and other Grocery decisions.
LEARN
Our cooperative values include education. As Owners, we will learn together how to build the Grocery so it serves our needs. Owners will have the opportunity to learn about cooperative business models, the importance of local investing and a local economy, building community wealth and much more.
EARN
Opportunity to earn money based on the amount of shopping you do at the Grocery, but patronage refunds and dividends are at the discretion of the Grocery’s Board of Directors. In its initial years, the Grocery will likely need to retain all patronage to thrive as a sustainable business.
When Open The Community Grocery will have two classes of owners:
These different classes of owners have different voting rights, patronage shares, and governance rights based on the amount of business done by and through the Cooperative.
CONSUMER OWNER
This is most of us! If you just want to shop at the grocery store, you’re a consumer owner. Consumer Owners may be either natural persons or legal entities. All-natural persons or legal entities who elect to become Consumer Owners must sign a consumer- owner contract and pay a ownership fee set by the Board. The owner who signs the agreement is the person who will have voting rights in the cooperative. Consumer Owners will receive patronage dividends dependent on the amount of business done by and through the Cooperative.
WORKER OWNER
Worker Owners must be natural persons. In order to be an effective Worker Owner who shares responsibility for the Cooperative, an employee requires a substantial amount of training and time working at the Cooperative. As a condition precedent to applying for Worker Owner status, that person must work for the Cooperative for 18 months for at least 20 hours per week, including approved vacation, sick, or other paid leave. All employees who elect to become Worker Owners must sign a worker-owner contract and pay the ownership fee set by the board. After receiving worker ownership status, Worker Owners may receive patronage dividends dependent on the amount of business done by and through the Cooperative.
By deciding to become a member-owner of the Cooperative, you own the Grocery and are part of the decision-making process. By allowing decisions to be made by owners, especially those who live in the community nearby to the Grocery, we can best address our communities’ needs. We are still in the early stages of planning which makes your input even more important.
As an owner, you have one vote. You will have the opportunity to use that vote as we are in the planning stages of the Grocery to decide the location and services the Grocery will offer. You can use that vote at the annual meeting in October to vote for the Board of Directors and other Grocery decisions. You also have the opportunity to serve on the Grocery’s Board of Directors and represent your community.
Becoming an owner requires completing an ownership application and a one time fee of $150.
Online ownership applications are currently closed but will reopen soon. In the mean time please contact louisvillecommunitygrocery@gmail.com to start the manual process of becoming an owner.