NORWAY — Fare Share Food Cooperative, 445 Main St., is realizing several big changes to its legal status and operations. One has already taken effect as of Jan. 1. Fare Share is now a legal cooperative in the state of Maine, meaning that member-owners own shares of the organization. Owners of common shares get to vote, one vote per share. Three levels of equity shares that support FSFC with additional capital are available to member-owners who own common shares.

In addition, member-owners recently approved major changes to the FSFC bylaws that change the way the store operates. Management is currently shifting to a one-price system on all items. Everyone, regardless of membership status, will pay the same price at the cash register. After the end of the fiscal year, once financial reports are complete, member-owners will share in the profits using a system of patronage distributions. Profits, as determined by the board of directors, will be distributed back to member-owners based on how much they purchased in the fiscal year. This system will replace the current system of automatic discounts at the cash register for member-owners. It will give the organization more capital to work with during the year, streamline inventory and purchasing records, and afford the organization more financial security.

Member-owners voted in December to institute this new system, used widely in food cooperatives around the country. Committees and boards have been discussing the need for it for more than a dozen years, and finally, the board prioritized the work in 2017. With the support of both the Legal Food Hub and the Cooperative Development Foundation, FSFC educated its membership and amended its Articles of Incorporation. After finances are reconciled during the first quarter of 2020, member-owners will receive a return on their patronage in the form of a store credit.

“It’s exciting to see these changes become reality after so many years of discussion,” says former board president Lisa Moore. “After forty years of doing business in our community, Fare Share is adapting to new systems and a new status. Our hope is that these changes will sustain the organization for many more decades to come.”

Another change is the creation of a new position of volunteer coordinator. This person will track volunteering, help orient and welcome new member-owners, and help volunteers find the right opportunities to fit their skills and schedules. Volunteers can earn discounts, hone skills and be an active part of a cooperative enterprise.

Fare Share is open to everyone and anyone interested in becoming a member-owner is welcome. Ask a staff member for more information.  Common shares are currently $75, and there are options for low-income individuals and families.

For more information, go to www.faresharecoop.org or or call 207-743-9044.

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