Vermont Business Magazine City Market, a Member-owned cooperative, has declared their annual Patronage Refund to Members, one of the tangible benefits of Co-op Membership. Member purchases totaled over 68% of Co-op sales in fiscal year 2016, and the City Market Board of Directors has voted to return over $656,000 in cash to Members as this year’s Patronage Refund. On November 10, the Co-op mailed checks to 11,450 Members, with an average check of $57. Over 2.4 cents of every dollar eligible Members spent is being refunded. City Market started issuing Patronage Refunds in 2009; with this year’s checks City Market has in total circulated more than $5.4 million back into the local economy with Patronage Refund checks.
John Tashiro, City Market’s General Manager, is proud of the Co-op’s continued ability to offer a Patronage Refund to Members, especially during ongoing expansion projects. “We owe the Co-op’s success to our Members, the greater community, our local producers and our non-profit partners. The Co-op’s Patronage Refund is one very tangible benefit of cooperative ownership and is part of what sets the cooperative structure apart.” Members have options to cash or donate their Patronage Refunds. Through donations, shared resources, and Member Worker volunteers, City Market partners with local non-profits to enhance our local food system and meet the needs of our community’s most food insecure families.
As in years past, City Market will facilitate donations of Members’ Patronage Refund checks to Hunger Free Vermont. Hunger Free Vermont is an education and advocacy organization with the mission to end the injustice of hunger and malnutrition for all Vermonters. “City Market continues to be a valuable partner for Hunger Free Vermont, through their donation programs, Member Worker volunteers and their advocacy to alleviate hunger in our community,” says Marissa Parisi, Hunger Free Vermont’s Executive Director. “City Market continues to be a valuable partner for Hunger Free Vermont through their donation programs, Member Worker volunteers, and their advocacy to alleviate hunger in our community,” says Marissa Parisi, Hunger Free Vermont’s Executive Director. “City Market’s Members donated $5,686 through their Patronage Refunds last year, which goes directly to helping alleviate food insecurity in our state. In Vermont, 14% of children experience hunger or food insecurity and nearly 70,000 Vermonters live in food insecure households. The donations we receive from City Market Members are integral to our efforts to help all Vermonters access healthy food.”
Members also have the option to not cash their Patronage Refund checks in order to support non-profits working to build our local food system. Starting last year, the Co-op distributed the funds from uncashed Patronage Refunds to organizations who have been awarded Co-op Patronage Seedling Grants. During the summer, City Market solicited grant proposals from organizations working on strengthening our local food system. A Member Grants Committee met to discuss the proposals and to recommend to the Board of Directors which projects to fund with uncashed Patronage Refund checks. Eight projects totaling just over $40,000 were selected and throughout the year, we’ll be sharing stories and updates of these projects.
“The Patronage Refund is really like our own economic stimulus package,” stated John Tashiro. “Returning cash to our Members, which they then invest in local businesses and non-profits, is a unique aspect of the cooperative economy. It’s a great feeling being able to provide our Members and our community with this exciting benefit!” Since 2008, City Market has recirculated just over $5.4 million in Cooperative profits (from sales to Members) back into the community.
About City Market/Onion River Co-op
The Onion River Co-op is a consumer cooperative, with almost 12,000 Members, selling wholesome food and other products while building a vibrant, empowered community and a healthier world, all in a sustainable manner. Located in downtown Burlington, Vermont, City Market provides a large selection of local, organic and conventional foods, and thousands of Vermont-made products. Visit City Market, Onion River Co-op online at www.citymarket.coop or call 802-861-9700.
Source: Burlington, VT - City Market 11.22.2016