2017 Patronage Dividend
La Montañita Co-op is proud to issue a patronage refund for Fiscal Year 2017 (2016/09/01 through 2017/08/31). After reviewing the year’s finances, the Board of Directors’ Finance Committee approved a total patronage dividend of $529,000. The 2017 Patronage Dividend was allocated as follows:
Patronage Refund Issued to Member-Owners — $105,800
Patronage Retained & Reinvested by LMC — $423,200
The $105,800 Patronage Refund is being given back to member-owners, and this refund represents approximately .39% of member-owners purchases during the year. Member-owners eligible for a Patronage Refund were notified by mail in the first week of February 2018. The Patronage Refund can be redeemed as store credit when you make a purchase at La Montañita Co-op, or as cash from one of our checkout registers. Simply let your cashier know how you’d like to redeem your Patronage Refund, and they’ll take care of it for you. A valid ID is required to redeem your Patronage Refund.
If you were eligible for a Patronage Refund but did not receive a notice, fear not! We likely had outdated or incomplete address information on file for you, preventing your notice from making its way to you. All eligible member-owners’ Patronage Refunds have been set aside in our system, so even if you didn’t receive a notice, your Patronage Refund is now available for redemption. To update your member-owner information so we have an accurate address in the future, you can fill out this form.
Patronage Retained & Reinvested by La Montañita Co-op
The Finance Committee set aside $423,200 of the total Patronage Dividend to be retained and reinvested by La Montañita Co-op. This represents a member-owner’s equity contribution to La Montañita Co-op for the fiscal year, and these funds are reinvested into improving our stores, expanding our foodshed development projects, and increasing the reach and positive impact of our efforts in the communities we serve. The Retained & Reinvested portion of the Patronage Dividend is set aside by the Finance Committee and cannot be issued directly to member-owners as a refund. It is essentially an investment by member-owners in La Montañita Co-op — it helps us improve our cooperative both in the stores and out in the wider New Mexico community.
Patronage Refunds can be redeemed at any La Montañita Co-op checkout register until August 15, 2018. If you live out of state or will otherwise be unable to stop by a La Montañita Co-op location to redeem your Patronage Refund by August 15, contact us at firstname.lastname@example.org or on our Contact Us page and we can find a redemption option that works for you.
Patronage refunds that are not redeemed by the deadline will be given as a donation to Mujeres en Acción, an economic development cooperative made up, in part, of immigrant Spanish speaking women who reside in or near Albuquerque’s South Broadway community. Today Mujeras en Acción is a kitchen cooperative with hands-on training that teaches new job skills while generating income through sales of Mexican and New Mexican foods, primarily tamales. You can find their tamales in most of our stores, if you’ve not tried them, we invite to do so!