2017 Patronage Refund checks will be mailed to Members on Thursday, November 9. Checks need to be cashed or deposited by Wednesday, February 7, 2018 (90 days).
A Snapshot of 2017 Patronage
- Member purchases totaled over 69% of sales in Fiscal Year 2017.
- The total Patronage Dividend since 2008 is just over $8 million.
- The Board agreed to distribute 30% of the Dividend in cash.
- These checks will recirculate over $330,000 back into our local economy.
- The average 2017 Patronage Refund check is $35.
- Over 1.2 cents of every $1 eligible Members spent is being refunded.
Basic Information on the Patronage Refund
Individual patronage checks are a refund on profit relative to your Member purchases when your equity is current. Patronage checks are mailed in early November for your spending in our previous fiscal year (For example, November 2017 Patronage checks are for spending from July 1, 2016 to June 30, 2017). In 2017, Patronage Checks totaling over $330,000 were issued to over 9,500 Members, with an average Member check of $35. Please note that the IRS allows the Patronage Refund as non-taxable income for individuals! Please make sure to present our cashiers with your Member Number every time you shop at City Market!
Options for your 2017 Patronage Refund Check:
- Enjoy it! Cash or deposit your check within 90 days (by Wednesday, February 7, 2018).
- Pay equity. Apply your check to your remaining equity balance (detailed information included with your check). Members continue to have the option to pay toward a full equity share of $200 in annual installments of $15. If you choose to return your check to apply toward your equity, please endorse the back of the check "Payable to Onion River Co-op" and include your completed "Equity Coupon" that was enclosed with your check. The deadline for this option is Monday, February 5, 2018.
- Donate to Strengthen the Local Food System. When Members don't cash their Patronage Refund checks, we automatically donate the funds to organizations working to strengthen the local food system. In this second year of our Co-op Patronage Seedling Grants Program, we solicited grant applications from community non-profits, specifically looking to fund projects that will support our local food system. Our Member Grants Committee reviewed the 12 applications we received and recommended to the Board that the Co-op fund 6 projects totaling just over $30,000 this year. So when you don’t cash your Patronage Refund check, the donated funds automatically support 8 local food projects in our community! Members wishing to exercise this donation option should simply do nothing (really, just don't cash that check).
Thank you for your continued support of the Co-op! Your patronage allows us to be successful and allows us to partner with local food producers and community organizations to eradicate childhood hunger and strengthen our local food systems.