City Market gives over $268,000 back to co-op members

City Market, Onion River Co-op, downtown Burlington’s cooperative grocery store, has issued over $268,000 in Patronage Refund checks to more than 3,500 Co-op Members. Patronage Refund checks for the fiscal year ending June 30, 2009 were mailed on November 10. Membership at the Co-op is $15 annually and provides a variety of benefits including free water from the Reverse Osmosis water machine, discounts at area businesses, the opportunity to volunteer in and out of the Co-op for store discounts, in addition to the Patronage Refund. Co-op Members show their Member card and/or provide the name on the Member account at the cash registers with every purchase. Individual patronage checks are a refund on profit relative to member purchases when member equity is current. Patronage checks ranged from $1.03 to $946.45.
The Co-op made a net profit before taxes and patronage of 5.7%. Member purchases totaled 29.09% of total sales and the Co-op declared a patronage dividend of $446,894. The Co-op Board of Directors set the cash distribution at 60%. Per IRS regulations, Patronage Refund checks are only valid for 90 days; therefore checks must be cashed before February 10, 2010.
For the second year in a row, City Market and the Vermont Community Foundation have teamed up to provide funding for the Vermont Local Food and Farms Fund. The Fund supports the efforts of a large number of innovative farmers and entrepreneurs and a network of organizations, food co-ops, and farmers markets that are reshaping the agricultural landscape and creating a food system in Vermont that will be sustainable, environmentally sound, and economically viable. Co-op Members can donate their Patronage Refund checks to the Fund. All donations are tax-deductible. More information is available at vermontcf.org/localfood or by contacting Ryan Torres at (802) 388-3355 x289.
About City Market/Onion River Co-op
The Onion River Co-op is a consumer cooperative, with over 4,000 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, City Market provides the area’s largest selection of local, natural and conventional foods, and over 1,700 Vermont-made products. City Market also features over 140 green products from cleaning solutions to canvas shopping bags. Visit City Market/Onion River Co-op online at www.CityMarket.coop or call 802-861-9700.
Source: City Market, Onion River Co-op. Burlington, VT—November 23, 2009—