- How does my Membership benefit me directly?
- How does my Membership benefit my community?
- How will my money be used?
- Can I get my money back?
- What about Investment Tax Credits?
1. How does my Membership benefit me directly?
Your greatest benefit will come from discounts on your purchases of energy efficient goods and services through Co-op. Since the Co-op will negotiate discounts on energy efficient goods and services (e.g. home energy audits, weatherization, geo-thermal, solar hot water and heat, solar electric (PV), etc.), you will have the opportunity to earn additional savings each time you purchase goods and services through the Co-op and its Suppliers.
Other direct benefits include:
The Co-op has arranged a business affiliate relationship with Mid-Atlantic Federal Credit Union (“MAFCU”) through which Co-op Members and Sponsors can finance their purchases of goods and services. Members will also realize the many other competitive advantages of banking with a credit union
2. How does my Membership benefit my community?
Your Co-op will provide substantial savings on sustainable energy and food for your community. It will also benefit your community through the proven multiplier-effect of re-circulating money within this community. The new businesses and jobs that will be created will contribute to local economic health through payments of wages, taxes, business profits, member discounts and patronage dividends. The mission of Co-op also includes community education about: a. the benefits of renewable energy and healthy local food, b. the benefits of local ownership and democratic control of energy and food resources, and c. the power and sense of well-being provided by bringing community members together around a common mission and giving individuals a way to participate and take action together. All of this encourages a sense of response-ability for individuals in their communities.
3. How will my money be used?
Your money will initially be used to pay the necessary costs of building the Co-ops Membership base, thereby allowing the Co-op to negotiate increasingly valuable benefits for Members. The primary initial costs will be:
a. marketing expenses to pay for publicity, advertising, social networking, and creating a web-site that will fuel the rapid expansion of enrollment,
b. a salary for the ED, who will be responsible for managing all aspects of the business of Co-op and will report to the Board Of Directors and Members,
c. overhead expenses for items such as rent, supplies, legal, and accounting.
Once the Co-op has accumulated enough capital from the sale of new memberships and from marketing fees the ED and BOD will conduct research to find the most secure and profitable sustainable businesses for the Co-op to invest in. These businesses must also provide the best benefits to the Members. The ED and BOD will present these potential investments to the Members, who will vote democratically (i.e. one member, one vote) on which of these investments to make, thus giving you a direct role in the investment process.
The Executive Director (“ED”) and Board of Directors (“BOD”) will administer Co-op funds in a responsible manner and will conduct Membership votes on any major investments. Co-op funds are kept in interest-bearing accounts with Mid-Atlantic Federal Credit Union (“MAFCU”), which is a federally-insured Credit Union.
4. Can I get my money back?
Yes. $100 of your money is considered to be a member capital contribution and may be refundable under certain conditions. Your member capital contribution will never be worth more than $100. The Co-op will use the funds initially to run its business and Co-op profits, if any, will be used to replenish member capital contributions. Your Membership cannot be sold publicly, but the Co-op may purchase it back on the terms and conditions described in the Co-ops By-laws.
5. What about Investment Tax Credits?
Investment Tax Credits (“ITCs”), that are in effect today for investments in energy efficiency goods and services, represent another very compelling reason to make these investments now. The Federal ITC alone is equal to 30% of your investment. In addition, State and Local Governments, especially in Montgomery County, are offering tax credits and loan programs to incentivize your investment(s) in energy efficiency and production.