What is Member Economic Participation and what does it have to do with me?
Cooperative businesses embody 7 cooperative principles to guide their organization. Co-op principle #3: Member Economic Participation means that YOU are an owner of the co-op and are vital to the start up capital of the BisMan Community Food Co-op. The funding structure for start-up co-op's include member shares, member loans, and a commercial loan.
Right now we have begun the pre-planning for our member loan campaign. Why member loans?
There are 3 primary ways members can provide funding to their co-op:
1) Become a member (many have already done that)
2) Make an additional investment either as additional non-voting equity or as a member loan.
3) Shop at the co-op once we are open
So what's next? We are need 600 members to secure our site and will continue to build our membership even after we've secured our site. Ultimately, we want to open our doors with 1,000 members. We will be sending out a letter to all members later this summer once we finalize the terms of the member loan program. In the meantime, keep spreading the word about the co-op!