Membership Information:
Harvest Co-op Markets
PATRONAGE REBATE
During years when the Co-op makes a profit,
a portion (to be determined by the Board of Directors) will be returned
to members in proportion to what you spent at the co-op - your "patronage".
Members who are paid in full and those whose payments are up-to-date
will receive a full patronage rebate amount, as well as other member
benefits.
Members whose annual capitalization payments are not up-to-date
will only receive the portion of their patronage rebate that exceeds
the amount they are 'behind' in their payments.
A patronage dividend is not required to be included in gross income
if the member's purchases from the Cooperative related to "personal,
living or family items."
The patronage dividend would thus be taxable
to a member only if his or her purchases related to the operation
of a trade or business or other income-producing activities.
EQUITY MEMBERSHIP
Equity is an investment in your co-op.
A Member-Owner is fully vested
at $200.
Member-Owners may choose to pay that amount all at once,
or may choose to capitalize their account in $25 increments to be
paid annually.
Your equity deposit remains your money, in your equity
account. A member may resign the co-op and request their equity refund
in writing*.
Equity is refunded quarterly. Refunds will be made on or around May 31 (for those who filed by April 15), August 31 (for those who filed by July 15), November 30 (for those who filed by October 15) and February 28 (for those who filed by January 15).
ANNUAL MEMBERSHIP
Annual Membership is a $25 fee due annually, with all the benefits
Equity Member-Owners receive, but without building an equity account.
The annual renewal fee is due on the anniversary of joining Harvest.
Annual Membership is offered as an option for those who will just be in the area a short time. *
*The Harvest Board of Directors may suspend or limit the redemption of member equity accounts upon a determination that such suspension or limitation is necessary to protect the financial security of the cooperative.
Member Equity accounts are subordinate to the claims of creditors.
Bad checks and other debts (of the member and any person in his/her household) may be deducted from the member's equity account