The Board is also asking for your approval of its plan to secure financing needed to cover a variety of strategic upgrades at the Co-op over the next five years.
The package includes a loan, not to exceed $3.6 million, and an additional $1 million line of credit. We encourage you to learn more about the financing plan.
Financing Plan FAQs
What Is the Plan?
The Co-op Board of Directors would like to secure the financing needed to cover a wide variety of strategic and critical upgrades at the Co-op over the next five years.
What Is the Financing?
The package includes a loan, not to exceed $3.6 million, and an additional $1 million line of credit to be used only if necessary.
Why the Line of Credit?
If there are unforeseen expenses associated with our infrastructure upgrades, we will be able to use this line of credit to complete projects.
What Are the Upgrades?
Our teams at the Co-op have worked together to map our our infrastructure needs over the next several years. These upgrades include refrigeration systems, improved IT networks, and extensive building improvements throughout the organization.
Why Should We Do This Now?
Interest rates are low! By securing a loan now, we'll save over the long run.
Why Do We Need This?
We depend on our equipment and facilities to maintain a safe and pleasant experience for shoppers. Proactively upgrading critical systems like refrigeration can help us save money by avoiding costly equipment failures and provides the opportunity for us to make more environmentally sound choices.
Will Prices Go Up?
No. This loan will not impact prices at the Co-op.
How Can I Learn More?
Members of the Leadership Team and Board of Directors would be happy to speak with you.
Call 603-643-2667 or email comment [at] coopfoodstore.com.
Events. Such as the online forums listed below.
Loan Information Forums
We'll be hosting a series of online events so you can ask questions and learn more about the loan vote.
Questions can be sent in advance to memberservices [at] coopfoodstore.com.
Wednesday, April 15 No Recording Available
Saturday, April 18
View a recording of this meeting.
Questions about the Vote or Financing
Members of the leadership team and Board of Directors would love to speak with you. Give us a call at 603-643-2667 or email comment [at] coopfoodstore.com.