Co-op grocery approves membership change

By Rosemary McCoy

The Co-op Natural Foods will change its membership model later this year.

The board voted unanimously Wednesday to approve the proposal, which is intended to give the grocery cooperative more capital for improvements and to engage its member-owners.

“All those changes will go into effect as we had planned Oct. 1,” said Patrick Sayler, general manager of the grocery store at 410 W. 18th St.

The initial investment to become a member-owner will increase from $25 to $200, which can be paid over five years. A $36 annual fee and 5 percent discount on all purchases will be discontinued. Instead of the across-the-board discount, the co-op will offer deals on specific items.

Holders of original stock certificates in the co-op can convert those into the new stock, with a $25 credit going toward the $200 investment.

The co-op has been in Sioux Falls since 1973, starting out as East Dakotah Cooperative. While the structure involves member-owners, the public is welcome to shop there, too.

Information on the new membership model will be available at the co-op’s second annual Block Party, which is Aug. 19.

Co-op grocery proposal would restructure membership

 

 

Co-op grocery approves membership change

The board voted unanimously Wednesday to approve the proposal, which is intended to give the grocery cooperative more capital for improvements and to engage its member-owners.

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