Ownership

A defining characteristic of Roanoke Natural Foods Co-op is that any shopper can become an owner. This enables the store to directly meet the needs of its owners, as the Co-op is run by a democratically elected Board of Directors. Because we are the owners of our store, we can quickly and effectively enact the policies that make the most sense for our shoppers and our community.

Though you do not need to be an owner in order to shop at the Co-op, many shoppers – more than 2,000 of them at last count – have chosen to invest in the Co-op by purchasing a share or a paying a yearly membership fee.

Owner Benefits

When you buy a share in the Co-op, you are entitled to:

• Vote in Co-op elections
• Run for the Board of Directors
• Be eligible for an annual rebate check

Beginning January 2007, the Co-op is operating on a patronage rebate system, or PRS. A PRS is a widely adopted system of returning surplus profits to owners that is used by co-ops across the world.

At the end of each profitable year, the democratically elected Board of Directors will determine how much of the annual profits the Co-op can rebate to its owners. Each owner’s rebate will be a percentage of his or her annual Co-op purchases.

When you become an owner of the Co-op, you are given an ownership card that is swiped each time you shop. This will enable the Co-op to maintain accurate totals so that your rebate check is a correct reflection of your purchases.

Becoming an Owner

Anyone is welcome to join the Co-op as an owner.

We are currently in a time of transition, during which the ownership structure is being revised to a share-only system.

Beginning this July, “ownership” will mean owning a share in the Co-op. Each owner is entitled to one share, and one vote in Co-op elections. Most “regular” corporations operate differently: he or she who possesses the most shares possesses the most votes.

We do not yet know the cost of these shares, as the Board of Directors and General Manager are currently researching the best way to implement this system. We do know that shares will be fully refundable should an owner choose to leave the Co-op. Furthermore, payment plans will be available to assist an owner who wishes to invest in the Co-op, and can’t afford to pay in one lump sum.

The process of becoming an owner is a simple one: stop by the store and fill out an application today. If you would like us to mail you an application, email your request to us.

Ownership FAQ

Do I have to be an owner to shop at the Co-op?
No. Anyone can shop at the Co-op, and all shoppers receive our monthly sale prices. (See the sidebar to download this month's sales flyer.)

What are the benefits of becoming an owner?
Becoming an owner of the Co-op makes you eligible to: vote in Co-op elections, run for the Board of Directors, receive a patronage rebate at the end of each profitable fiscal year.

Becoming an owner of the Co-op also benefits our community. The stronger our ownership base and involvement is, the more we can be an active force in our community for the causes we advocate: healthy food choices, local commerce, and the responsible management of our environmental resources.

How do I become a Co-op owner?
To become an owner of the Co-op, you fill out an application and purchase a share in the cooperative. This share is an investment in the capital of the Co-op, and is refundable to you should you choose to leave the organization.

We will begin selling shares the spring, and they will become effective July 1 after the expiration of our current (and last) membership year on June 30. The concept of a yearly membership fee will be replaced by ownership.

The Board of Directors and General Manager are currently researching different models of the structure of selling Co-op shares, so we do not yet know what the cost of the investment will be. Regardless of price, we will create payment plans in order to make ownership accessible to as many people as possible.