"BE A MEMBER OF YOUR LOCAL CO-OP"
The Co-operative is controlled democratically by members, irrespective of the amount of money (or capital)contributed by members ie. one member, one vote.
Members of the Hastings Cooperative must be active ie. they conduct business with the Co-operative.
Active Members are:
- People who spend more than $1000.00 at any of the Hastings Co-op retail outlets within 12 months.
- Farmers selling milk to the Hastings Co-op.
Shares are $2.00 per share with no maximum and a minimum holding of $20.00 (10 shares). While additional shares are welcome at any time. Note that you must be inactive for a minimum of 3 years before the Co-op is obligated to repurchase your shares.
- Shares maybe transferred to another person who will be active.
- The Co-operative is obligated to repurchase your shares should you move out of the area.
- In the death of a shareholder the Co-operative will pay the share capital to your estate.
- On the receipt of your member application and share money (cheque/ money order/ cash) we will process your application and approval by the directors of the Co-operation at a monthly Board meeting. You will be notified by mail of your membership number.
You get a share in the profits by being a member in the Hastings Co-operative paid at the discretion of the directors.
- Each year profits are returned to members as a fully franked dividend.
- Members can receive their fully franked dividend as a cheque payment or reinvested as shares in the Co-Op (the more shares you accumulate the greater the dividend). Cheque payments - with a total share capital under $500 will have their dividend added onto their shares, unless the Head Office is notified.
Direct discount on the shop floor, at point of purchase: “Members Price”
TAX FILE NUMBER
The Co-operative is required to deduct tax unless Tax File Number or exemption is held on file when drawing dividend cheques.
MEMBER/ SHAREHOLDER NUMBER
When making a purchase at any of the Hastings Co-operative’s businesses please show your shareholder card to the cashier at the point of sale. Your share number is then recorded for the accumulation of your purchases to calculate your rebate for the financial year.
The members are the Co-op’s most valued asset and we welcome new members.
Download the Application for Membership form, fill in your details and take the form to any retail outlet with your share capital money.
Any further questions to the Finance Officer Coralie Hindmarch
Be a member of your local Co-Op - PDF 95kb