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announce that PNFC has reached the point in its growth and development that enables us to convert to the patronage dividend model!
Effective September 30, 2014, all co-op owners who are eligible will receive this dividend at the close of each fiscal year. Patronage dividends will be distributed at the Annual Meeting, held each October, beginning in 2015. Dividends are based on each owner’s purchases relative to the total store purchases. Dividends will be returned as a gift certificate good for store purchases for up to one year.
The patronage dividend will replace the twice-a-month 10% discount given at the register. Discounts at the register will end on September 30, 2014 to coincide with the implementation of the patronage dividend. While as individual shoppers, this may feel as though we are losing a valuable and important benefit, as co-op owners we can celebrate that our community owned enterprise has reached a level of sustainable profitability that will ensure the long term operations of our amazing market.
There are still plenty of reasons to be an active co-op owner including voting in the annual election of the Board of Directors, 15% over wholesale on full cases or bulk purchases of 25 lbs. or more, High Five Discounts, owner only sales and specials,†basic pricing†for members on staple products in every department, and the 10% volunteer discount.
The best reason of all for being an owner of the only consumer owned food Cooperative in El Dorado County is that without you our Co-op wouldn’t exist.
-The Co-op!
Together we built it!
Together we own it!
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