Why a Co-op Membership?
A Co-op membership is a promise of providing high-quality products and service. As an owner, you have the ability to participate in the democratic decision-making process by asking questions, voting on resolutions, electing board members or even sitting on the board yourself.
What is Equity?
Heritage Co-op will share a portion of profits annually and allocate it to qualifying Members based on their purchases. Members may receive a portion of their allocation in cash, the remainder will be deposited into an equity account that grows based on purchases made each year. The equity portion of your money that is being held by Heritage Co-op helps to back growth and improve assets to ensure ongoing success.
How is Equity Determined?
Heritage Co-op’s Board of Directors determines the equity percentage to be paid back and announces this percentage at the Annual General Meeting where year end financials are discussed. Equity cheques are delivered in Summer, usually mid to late July.
How is Equity for Businesses Unique?
Members with higher amounts of equity receive a larger portion of their equity in cash, which is an advantage for businesses who focus spending at Heritage Co-op. Full business equity can be paid out when the business is dissolved or if the business leaves the trading area.