Effective February 1st, 2015, the Co-op is raising its member dues to $10 per year.
If you have recently paid your annual membership dues at the store, you will not have to pay this new amount until your renewal date a year from when you last paid.
North Country Food Co-op’s Board of Directors did not make this decision lightly, but after months of careful deliberation, four facts taken together led us to conclude that this increase is in the best interest of the store and all of us as member-owners:
1. For every $1 North Country Food Co-op receives in member dues throughout the year, the store spends nearly $7 on member discounts.
Although a small gap between what a co-op receives in member dues and what a co-op spends in discounts is financially justifiable because members are loyal, repeat shoppers, the $70,000 gap between dues received and discounts given this 1:7 ratio actually amounts to per year puts a strain on operations and limits our ability to grow and serve our members. Fortunately, overall, the Co-op has always remained in the black throughout our history, but imagine the things we can accomplish if we can narrow this gap if only just a little!
2. North Country Food Co-op currently has the lowest membership dues of any food co-op we’ve seen in both the region as well as throughout the country, and our discounts are generally higher than most food co-ops.
Take a look at this chart comparing us to other co-ops in the region. Even at $10 per year, our memberships will remain more affordable than other food co-ops in our region.
3. If you spend only $17 per month at the store, you will earn back your $10 membership investment in savings received from member discounts.
If you’re a member and you buy $200 dollars’ worth of goods from the Co-op during the course of a year, you’ll save $10 with your 5% discount. $200 a year amounts to around $17 a month. And since our average customer spends $21 each time they shop at the Co-op, purchasing a $10 membership is still a good deal for our average shopper.
4. Because North Country Food Co-op is a non-profit, 100% of our earnings must be reinvested in improving the store for our member-owners.
That means, as always, 100% of member dues collected will be used to make your shopping experience and your co-op better.
We hope these four points, taken together, make a compelling case in favor of raising member dues to $10 per year. If you have any questions or comments about these points, or if you have any questions about the member dues increase in general, please don’t hesitate to email North Country Food Co-op’s Board of
Directors at: board@northcountryfood.coop.
We sincerely appreciate your continued support during this exciting stage in the Co-op’s history. Our members’ commitment to the store has ensured our growth and success over the past four decades, and your ongoing support during this period of renovating and restructuring will pave the way for another four
decades of progress.
Sincerely,
North Country Food Co-op’s Board of Directors