We are thrilled to announce that our co-op was profitable in Fiscal Year 2018, leading the Board of Directors to designate a patronage refund for all eligible member-owners. You will receive a refund if you are a member-owner of Monadnock Food Co-op in good standing and have made over $360 in purchases between July 1, 2017, and June 30, 2018. This year a paperless patronage refund will await you at the co-op’s cash registers starting September 25, 2018. A cashier will prompt you to redeem it in a one-time transaction.
- If your refund is under $50, either the voting member-owner or your designated household member may redeem it a the register.
- If you refund is over $50, ONLY the voting member-owner can redeem it with you member-owner card or ID.
- Have questions? Please call our Finance Manager, Drew Bedard, at 603-283-5404.
Patronage refunds allow sharing of profits among member-owners. Refunds are determined by the amount a member-owner has purchased during the fiscal year, therefore the more you shop, the larger your refund check.
The Board determined that our co-op will refund a total of $44,681 for FY 2018 to eligible member-owners. The net income before member-owner purchases this year was 2.5%. Your patronage refund is 20% of that income based on your purchases. The remaining 80% is retained and reinvested in our business to support its financial stability. Retained patronage is used to invest in our cooperative, pay down debt, and improve the long-term health of our business. The intrinsic value of our retained patronage lies in the fact that we are in this together for the long haul, and we will all share in the expected future benefits derived from managing our resources responsibly.
Please redeem your patronage refund at our co-op’s cash registers before February 1, 2019, or it will be donated. You may redeem the refund for purchases in the store, for cash or a gift card, or donate it to the Monadnock Cooperative Community Fund (MCCF). Last year our co-op collectively donated almost $8,000 to our fund, thanks to $5,289 donations from member-owners and a $2,644 match.
Thank you for your continued support — it made this patronage refund possible!