Become a Member-Owner!

I hereby apply for membership in the Louisville Community Grocery, LCA. With my membership fee payment, as further described below, I become a part owner of the Louisville Community Grocery. Member-owner equity is used for the development, operation, and expansion of this Louisville area business. As a member-owner, I intend to support the local economy by providing healthy, affordable food through just and equitable practices. I understand that member-ownership is subject to the terms and conditions set forth in Louisville Community Grocery, LCA’s Articles of Organization and Bylaws. I have received a copy of and reviewed the Articles of Organization and Bylaws. I understand that the individual signing this Member-Owner Agreement is the person who will have voting rights in the cooperative. I will list additional household members who may use my owner number to shop. Once the full ownership fee is paid, no additional payments are necessary unless the member-owners authorize an increase in the member-ownership amount or assess an additional contribution to a class of member-owners. I understand that my ownership is subject to the same risks inherent in any start-up enterprise and that such risk may result in the loss of part or all of my ownership fee. Member-owner refund and buy-back policies are located in the Bylaws. Patronage refunds and dividends are at the discretion of the Board of Directors; only paid-in-full member-owners are eligible to receive them. I am liable for any taxes that may accrue in the year a refund is provided or a dividend is paid in accordance with IRC Section 1385 including portions held by the cooperative until termination of my ownership interest. Louisville Community Grocery, LCA, collects consumer purchase data in order to track general shopping trends and to determine patronage dividends. Full member-ownership is reached at $150 and a consumer member-owner receives one vote in the Louisville Community Grocery. The member-owner who signs this agreement is the person who will have voting rights in the cooperative. All member-owners participating in the Louisville Community Grocery membership campaign will receive public recognition upon store opening. Worker owners will have 40% vote (after there are 7) in General votes, and consumer owners (after there are 100) will have 60%. If an individual does not have enough money for the membership fee upon application and acceptance, as determined by the Board of Directors of the Louisville Community Grocery, LCA, then the new member-owner may be credited with the fee as part of a payment program.

You may assign up to 3 additional household members to this account. Remember, only one vote will be assigned to this account number.

Full owner-membership is reached at $150 and a consumer member-owner receives one vote in the Louisville Community Grocery. The member-owner who signs this agreement is the person who will have voting rights in the cooperative. All member-owners participating in 2 the Louisville Community Grocery membership campaign will receive public recognition upon store opening. Worker owners will have 40% vote (after there are 7) in General votes, and consumer owners (after there are 100) will have 60%.