Thank you for your decision to become a member-owner of the South Philly Food Co-op. We look forward to working together to bring our vision into reality. We are not just a typical grocery store or business. We are owned and operated by our member-owners, who share equally in the co-op’s financing and governance.
Member‐Owner: A “member‐owner” is a person who has monetarily invested in the Co‐op. The primary member‐owner is considered to be the main contact within the “household.” A “household” is a group of persons (including children) residing at the same address who live together as a unit.
Orientation and Volunteer Requirements: All new members must complete a new membership orientation according to specific terms as set by the Board. Each household unit must volunteer a minimum of eight (8) hours during each calendar year according to specific terms set by the Board. Additional details about orientation and volunteer requirements will be explained in the Member‐Owner Handbook.
Member‐Ownership Share and Payment Option: Member‐owners are encouraged to invest as their means allow. The membership investment is set at $200 for a one‐time investment per household. This can be invested as a single payment or may be paid with the payment plan laid out below. Members who are able to contribute their full $200 equity up front are strongly encouraged to do so.
Member‐owners can begin investing at any level of $25 or higher. Half of the total member equity ($100) is due by December 31st of that year, and the remaining half is due by December 31st of the following year according to the schedule below. The Co-op will send invoices to partially invested member‐owners at the end of each year.
To join, simply click on Become a Member-Owner to complete the application. It’s easy and fast and you can make a secure payment through Paypal right on the site! Those paying by check should make them payable to “South Philly Food Co-op” and mail with a printout of your confirmation or a copy of the application to:
South Philly Food Co-op
PO Box 31506
Philadelphia, PA 19147
Member‐owner status will not be granted until the online transaction is completed and verified (or check received) and your signed application is received.
|Date first contribution made||1⁄2 equity ($100) due by||Total equity ($200) due by|
|Before Oct 31, 2013||December 31, 2013||December 31, 2014|
|November 1, 2013 to October 31, 2014||December 31, 2014||December 31, 2015|
Limit to Member Investment: Any total capital contribution you make to the Co-op beyond the member investment amount will not be considered member investment, but will be handled as a gift donation. Donations are happily and graciously accepted. Refunds: Following termination of membership, a member share may be redeemed, upon written request, within ninety (90) days after an equivalent amount of funds has been provided by a new or existing member. Redemption of member shares shall be subject to being offset by amounts otherwise owed to the Co-op by the redeeming Shareholding member.
Transfer of Membership: Memberships are non‐transferable.