Member-Owner Contract

I agree to become a Member-Owner of the Kitsap Community Food Co-op under these terms and conditions:

A Full Share investment is $200.00, payable in one lump sum or in monthly payments. We have two monthly payment options of $10 or $20 a month. Monthly payment plans are subject to a $10 one-time administrative service fee. Select your payment and become a Member-Owner now.

After the co-op store has been open for business for one full year, and the Board deems it prudent, a Member-Owner may retire their shares and receive a full refund of all share payments (does not include $10 installment service fee).

Member-Owner Rights, Privileges and Responsibilities

Patronage Dividends: Only Member-Owners who have paid their full share investment are entitled to receive Patronage Dividends.

Patronage Dividends are issued at the end of profitable fiscal years, as determined by the Board of Directors. Patronage Dividends are proportionate to a Member-Owner’s total purchases during the prior fiscal year. Patronage Dividends are issued as store credit, or in some cases, by check (upon Member-Owner request), according to Co-op Policy. Patronage Dividends are valid for use for one year after the date they are issued.

Governance Rights: Member-Owners who have paid in full; or Member-Owners who have paid an initial installment, and who are not delinquent in later installments; may participate in elections, run for the Board, and may attend Board Meetings which are open according to Co-op Policy.

Member-Owner Responsibilities: Member-Owners must keep the Co-op informed of their current address, and must stay current in any share installment payments (if applicable).

Termination and Inactive Status: Member-Owners who fail to make a timely annual or semi-annual installment payment will, after a 30-day grace period, become Inactive. Inactive members may not participate in elections or run for the Board, attend Board Meetings, and are not entitled to a refund of Member-Ownership payments. Inactive Member-Owners may restore regular active status by paying delinquent amounts.

For a complete list of Member-Owner rights and responsibilities, you may refer to and download a copy of the Co-op bylaws at KCFC Bylaws