Chatham Marketplace

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Chatham Marketplace Board of Directors Changes Co-Op Ownership Structure
Board approves conversion from Point of Sale Rebate to Patronage Refund System

The Chatham Marketplace Board of Directors made a unanimous decision to convert the current Point of Sale Discount System to a Patronage Refund System at its July 20th Board meeting.

This decision means, in profitable years, Co-op owners will receive a percentage of the end of year profits based on the amount of their purchases during that year. This end of year refund replaces the 5% discount on certain items at the check out.

The decision was reached after the Board of Directors sought feedback from the ownership on the proposal. The proposal was discussed and questions were asked and answered at a forum for owners held at Central Carolina Community College in Pittsboro on June 7. More response was requested and received at the Chatham Marketplace Annual Meeting held June 23 at Celebrity Dairy in Siler City. The Board also received email feedback from many owners.

The vast majority of the responses that the Board received to this proposal were positive. Overall, the ownership was most concerned that the Board adopt the policy that would ensure the financial viability of the co-op before all other considerations.

Concerns were raised with the proposal. The most repeated concern was that taking away the Point of Sale discount would mean that some families would not be able to afford to shop at the co-op. Mary DeMare Stivers, General Manager, responds to this concern, saying, “We want to make our store accessible to everyone. Organic and natural products are often more expensive than their mass-produced counter-parts; they are also superior to their mass-produced counter-parts in many ways. However, we will have a volunteer program that will allow owners to work to lower their costs of shopping. We will have owner-only specials and quarterly Owner Appreciation Days at which owners will receive discounts on their purchases that day. And we will participate in the Co-op Advantage Program, a national program that offers monthly specials on selected items. I really believe that these initiatives will save our owners more money on their grocery bills than a Point of Sale discount.”

The other concern that came up frequently was that owners want some concrete sense of the benefits of ownership. Without the discount at the cash register, owners were concerned that they would have no consistent sense of return from their investment in the co-op. DeMare Stivers appreciates this concern, “Our owners are really special people who have done an amazing thing in supporting this start-up venture. I want them to feel like they are valued members of this Co-op community and that they are receiving very real tangible and intangible benefits from ownership. To some extent, owners are going to have to trust me to create the atmosphere and culture that will make owners feel welcome and special in the co-op. We’ll have a number of owner-only benefits, from a newsletter mailed to their homes, to grocery deliveries for owners who are shut-in, to owner-only classes, events and specials. And the ownership should feel empowered to let me know if they aren’t feeling valued and to make suggestions for other owner-only benefits they’d like to see.”

Owners are encouraged to talk to any of the Board about this decision, or to contact Mary DeMare Stivers by email at mary@chathammarketplace.com or by phone at (919)259-3507 with questions or comments.

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