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Fare Shares
Connections Local
Foods Market
Membership to
the Connections Local Foods Market is made by purchasing a Fare Share. A Fare
Share can be purchased in one payment or through payments towards a
purchase of a full Fare Share.
Your Fare Share is your capital investment in the Local Foods Market just like a share of stock.
As a member-owner, you are encouraged to
participate in Local Foods Market committees, elections and other Connections
Local Foods Market activities to protect and enhance your investment.
Choose one of the following options for Membership:
Full Fare Share:
Individual / Household Membership (Up to 2 adults): $60.00 ($58.00 purchases a Full Fare Share
+ $2.00 Administrative Fee).
Partial Payments towards Full Share:
Individual / Household Membership (Up to 2 adults) 7 - $10.00
payments ($8.00 towards a Full Fare Share + $3.00 Administrative Fee).
Non-voting Membership with Member Price Privileges:
Senior Citizen (60 years and over)
Disability Members
Low Income Members
REFUNDS: The Fare Share amount is redeemable to the member within
90 days of written resignation from the Connections Local Foods Market. I agree
that if I fail to request a refund of my Fare Share account the funds in the
account may be forfeited to the Connections Local Foods Market as specified in
the Connections Local Foods Market bylaws (Section 8.14 and 8.15 see reverse
side of Fare Share Contract). Connections Local Foods Market will notify me at
my last known address in the Connections Local Foods Market's records no sooner
than two years, but no more than three years after the membership has
terminated.
See a cashier
to get the Fare Share
Contract & Agreement Form or click here.
Bylaws that pertain to the Fare Share Contract:
1.1 (Mission Statement) The primary mission of the Connections
Local Foods Market is to operate a financially sound retail grocery store
serving the needs of the communities in the River Valley. Cooperative philosophy
and values are an essential part of our enterprise; therefore, the Connections
Local Foods Market will consider the needs of all members and recognize the
right of workers to participatory management and a humane work environment.
2.6 "Individual/Household Membership" means one or two persons sharing
a single address and a membership. A household membership shares a common
membership number. Either member may cast that membership's vote or serve on the
Board of Directors.
2.7 "Membership Number" means the number assigned to
each membership under the current registration for the Fare Share program.
2.8 "Fare Share" means a sum of money, set from time
to time by the Board of Directors and approved by the membership, which each
member must pay into the Connections Local Foods Market.
4.1 (Designation and Qualifications) Connections Local
Foods Market shall have one class of members. Any human individual, or other
cooperative or non-profit corporation shall qualify to be a member. The board of
directors of a cooperative or nonprofit corporation which is a member may
designate a representative to vote cooperative's/nonprofit's vote.
4.2 (Method of Acceptance) Anyone may become a member of the
Connections Local Foods Market by completing a membership application and paying
the fees required by the Fare Share plan, and any other fees approved by the
membership from time to time.
4.3 All memberships are to be renewed each year. A membership
is renewed by paying the fees under 4.2, and, after they are fully paid, by
making a purchase once each calendar year. People who do not renew their
membership shall no longer be members of the Connections Local Foods Market. At
the time membership terminated, the member may request a refund according to the
procedure in 8.14 and 8.15. However, former members may renew membership within
three years of the expiration date in the membership record and still retain
their equity. After this "grace period" the former member's equity
reverts to zero.
4.4 (Transfer) No member may transfer a membership or any right
arising therefrom, except as provided for in these bylaws.
4.12 (Voting Procedures) All current members, whether fully
paid-up or not, may vote for directors and on bylaw amendments and other
questions in person or by signed ballots.
8.9 Each member's "fare share" of equity capital
shall be determined on a yearly basis by the Board of Directors. Any changes
will be presented to the membership for approval by a majority vote of the
members voting.
8.10 Each member shall pay into the member's equity account in
yearly increments, in an amount to be determined by the Board of Directors. Any
changes shall be presented to the membership for approval by a majority vote of
the members voting.
8.11 A portion of each yearly payment may be retained by the
Connections Local Foods Market as a non-refundable administrative fee. This
amount shall be determined by the Board of Directors, and submitted to the
membership for approval by a majority vote of the members voting.
8.12 Credit for membership fees already paid under any past
membership plan will be credited to each current member's Fare Share account.
8.13 The Connections Local Foods Market may establish special
provisions for household memberships and low-income memberships, and other
categories as deemed appropriate by the Board of Directors. Such a provision
shall be submitted to the membership for approval by majority vote of the
members voting.
8.14 The balance existing in each member's Fare Share account
will be refunded upon resignation from the Connections Local Foods Market,
within 90 days of demand, subject to the Board determining when money is
available for refunds and how much may safely be refunded each fiscal year.
8.15 If a member fails to request a refund of the member's fare
share account, the funds in the account may be forfeited to the Connections
Local Foods Market as follows:
a)
No sooner than two years after the membership terminated, but no
more than three years after the membership terminated, the Connections Local
Foods Market shall mail a reminder notice to the former member's last known
address that, according to the Fare Share Member Contract signed by the member,
the member will be deemed to have donated the member's Fare Share funds to the
Connections Local Foods Market, if the member fails to request a refund, as per
8.14 above.
b)
If the former member has not requested the refund, as per 8.14 above, within
three (3) years of the date the membership terminated, the member, in accordance
with the Fare Share Contract the member signed, shall thereby have indicated
that the member donates all these funds to the Connections Local Foods Market,
and those funds shall at that time become a donation to the Connections Local
Foods Market.