Our Board decided to make co-op ownership more accessible to everyone in the community by reducing the share amount to $75 for all households and implementing a no-cost share for qualified low-income households. In addition, the Board decided that each share will have a single vote in Board elections (whereas in the past the number of votes depended on the type of share you purchased). This change aligns with the one share/one vote system that is standard in co-ops. One share/one vote makes the election process easy to understand and administer.
When will my share transition to the new share?
- Fully paid individual shares will receive emails about the transition the week of July 8.
- Fully paid two-person shares will receive emails about the transition the week of July 15.
- Fully paid family shares will receive emails about the transition the week of July 22.
- Partially paid shares will receive emails about the transition the week of July 29.
What this means for you
How the new share system affects existing owners depends on which kind of share they originally purchased. Owners who purchased an individual share will remain the primary owner on the share, but can now add household members. Owners who purchased a two-person or family share will now see one person listed as the primary owner, and the others as household members; members on the share can contact us to switch the names if desired.
All owners listed on the share (the primary owner and household members) can shop with the share’s number. The weekly e-news with owners-only coupons is emailed to the primary owner, and the primary owner is the voting owner. If household members would like to vote, they can purchase additional shares. For two-person shares transitioning into two new shares, Weaver Street Market will add $15 to make both shares fully paid. More information is posted on our FAQ page.
WeaverConnect, our new owner portal
The email about the new shares (see dates listed above) will also contain a link for owners to use to set up an account in WeaverConnect, our new owner portal. In WeaverConnect, you can update your contact information, subscribe to the weekly enews and owner coupon, and set your Round Up! preference. Once you register at WeaverConnect, you’ll receive a 10% off coupon.
More information is posted on our FAQ page, https://www.weaverstreetmarket.coop/faqs-share-transition/. If you still have questions, please contact us at email@example.com, or call 919-366-5213. Please include your owner number and your name.