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Dear Members,
We’ve gone over our Ends and the seven cooperative principles, and in my last letter, I laid out the current, ongoing projects that are moving us towards our Ends. Now, I would like to talk about the ways that Newark Natural Foods commits to the cooperative principles that make up the backbone of our business structure.
Voluntary and Open Membership
Anyone can become a member of Newark Natural Foods, and the $10 quarterly payment plan makes joining accessible. We even have an End in our Mission Statement dedicated to “welcoming all”. And you don’t have to be a member to shop at our store. We encourage all of our shoppers to consider membership, but the membership stays voluntary and completely open to those anyone committed to our co-op values.
Democratic Member Control
Every member has the right to attend any and all Board meetings and voice their thoughts, concerns, and opinions during our “Member Commentary” agenda item. All members in good standing have the right to vote for Board members and By-law changes at our Annual Membership Meeting on the second Sunday of November.
Members’ Economic Participation
Equity is your investment in Newark Community Cooperative and you start receiving benefits once you pay your first installment. Profit-shares are the cooperative method of sharing a co-op’s earnings with its members in profitable years. Your profit-share is based on your purchases for that particular year and the profit that the co-op made on those purchases. Profit-shares are delivered in the form of store credit applied to your membership account.
In my next letter, I will go over how Newark Natural Foods upholds the other four principles: Autonomy and Independence; Education, Training, and Information; Cooperation Among Cooperatives; and Concern for Community. Stay Tuned!
All the Best,
Catherine Hallman
General Manager
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