Mary Overlie, Chair
June 2012
Membership Dues vs. Equity
On June 10, we celebrate our first year in the new store. We’ve had a year to delight in a wide selection of fresh, organic produce— a year to sample new regional cheeses— a year to shop freely without ‘doing the bump’ with our fellow shoppers.
We’ve also had a year to upgrade our equity investment from $60 to $120 as Harmony member-owners. To keep your benefits as Coop owners, you’ll want to ensure that you upgrade your own equity investment by June 10. If you choose not to upgrade, all your membership benefits will end as of June 10. You can pay the $60 all at once or sign up for the gentle payment plan with any cashier.
Some member-owners hold a mistaken belief that a membership in Harmony is like a membership dues at a place like Sam’s Club, whereby you pay the fee and get the discounts in return. However, when you join up with Harmony, you are buying stock in the business. You become a voting shareholder with all the rights, privileges, and economic benefits that come with your role. The $60 share that you originally bought as a member-owner has exponentially risen in value with the birth of the new store. To both help finance the expansion and recognize the actual value of member-owner shares, the member-owners voted 2½ years ago to increase the initial share investment to $120.
If you have already upgraded your member-owner investment, your Coop’s future thanks you. If you haven’t, you have until June 10 to do so.
