Myth: Only member-owners can shop at the Co-op. Truth: The Co-op will be open to everyone for shopping, just like Tops, Wegmans, or Dash’s.
Myth: Membership has a yearly fee. Truth: There is only a one time member-owner fee. Once you own it, you own it.
Myth: Co-op member-owner shares are $500. Truth: Co-op ownership is a $200, one time investment. That’s it. Owners will be eligible to receive special sales, and patronage dividends once the Co-op is profitable.
Myth: The East Aurora Co-op start-up process is different, and more complicated, than other Co-op start-ups. Truth: Like all startup businesses, the Co-op needs capital to get off the ground. But the capital to fund Co-ops is, in large part, derived from member-owners. In fact financial investment by member-owners is an established principle of cooperative business worldwide, and the model used across the country to finance all startup Co-ops.
Myth: The Co-op has backup funding. Truth: There is no magic money. The Co-op must raise initial capital – in our case $875,000 – from its member-owners.
Here’s another truth: Our Capital Campaign deadline is approaching fast. We need to raise $232,000 more in investments by November 15th. It sounds like a daunting task, but we know the East Aurora community is committed to bringing a Co-op to town and we know we can make it a reality together.
Please call Sheila (912-0672) or Mike (316-1090), or send us an email at [email protected]. Thank you!