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The East Aurora Cooperative Market’s Capital Campaign came to a successful close in November 2014. This fundraising effort was crucial to our progress and second only to your member-ownership in importance. We are proud of our success on this front and are currently closing in on the remaining capital that comes from outside lending. We expect to complete this and begin construction at the end of March, opening our store at the end of Summer 2015.
What does it all mean? To position our store on the best possible footing, we have asked New York State to extend our prospectus to allow us the opportunity to raise additional funds from our member-owners. Specifically, we are attempting to raise an additional $25,000 in Preferred Shares, to provide extra cushioning of our operating capital.
We know that we can rally together to raise this extra capital in the next month and a half and I hope you will consider helping us. Here’s how it works:
Member-owners will receive a call from a fellow East Aurora Co-op member-owner, giving you the opportunity to ask questions and find out more about investing in the Co-op. We ask that you please give them a little of your time and consider investing in OUR Cooperative.
This year as we prepare to open our Co-op, dozens of people will be helping to make it happen. Many will work on our building. Volunteers will continue manning events. The Board of Directors and our Co-op consultants will be steering us toward success. Each of those people will be lending their expertise and putting a personal touch on the store. By taking this opportunity to contribute to your Co-op, your hard work, expertise and personal touch will be making it all possible.
There is a lot to think about, we know. If you have questions, would like more information, or to begin arranging your investment now, please call Sheila Conboy (716-912-0672), Mike Benzin (716-316-1090) or send an email to email@example.com. Thank you!
Offering by Prospectus only to bona fide residents of New York State. NY # I14-6754.
Yesterday was a pretty amazing day at the East Aurora Co-op. Here’s a recap. Where we started: Going into the final day of the Capital Campaign, we had a $68,800 gap to fill to meet our minimum required investment goal. We gathered at the Co-op, rolled up our sleeves, and got to work reaching out to fellow member-owners. It was an energized group, fueled by coffee, adrenaline, and the strength of our shared vision. How it unfolded: We started out strong. Member-owners were showing up. Writing checks. Investing in the future of their...read more
It’s a very big day at the East Aurora Cooperative Market. We’re pulling out all the stops to reach our Capital Campaign goal and we’re SO CLOSE! So we’re coming together at our 595 Main Street location to do everything we can to make today THE day. We’ll be there from 10 am-4:30 pm. Member-owners like you are coming down to make calls, sign up new member-owners, encourage investment, and be part of the excitement. Please join us and do what you can to make our Co-op a reality! Over the summer and throughout the...read more
Yesterday was a good day! With one week left in the Capital Campaign, we are a Co-op closer to being capitalized. Yesterday, a core group of dedicated member-owners chose to spend their Saturday morning calling fellow owners and spreading the word: We are so close, but now more than ever we need to embody the cooperative spirit and come together to make the Co-op a reality. That message was received and understood, to the tune of $17,000 in investments. That’s the momentum we need to make this happen! Did you miss our call yesterday? No...read more
As we count down the days and count up the campaign totals, every investment gets us closer to capitalizing the Co-op. The Capital Campaign is second only to your member-ownership in importance, and is the embodiment of Cooperative Principle No. 3: Member Economic Participation. Over the course of the Campaign, we’ve heard from owner-investors who have indicated that they may be able to come through with an additional investment as the Campaign draws to a close. With the November deadline approaching, now is the time! Our average...read more
It’s the final two weeks of the Capital Campaign and energy is high. As we enter the final stretch and pull out all the stops to bring the campaign to a successful conclusion, it’s easy to focus on what we still need to do together: namely, get $211,300 more in investments by November 15. But it’s equally important to focus on what we’ve accomplished together already, because it speaks volumes about the strength of the community of Co-op member-owners that has come together to bring something very special to East...read more
Myth: Only member-owners can shop at the Co-op. Truth: The Co-op will be open to everyone for shopping, just like Tops, Wegmans, or Dash’s. Myth: Membership has a yearly fee. Truth: There is only a one time member-owner fee. Once you own it, you own it. Myth: Co-op member-owner shares are $500. Truth: Co-op ownership is a $200, one time investment. That’s it. Owners will be eligible to receive special sales, and patronage dividends once the Co-op is profitable. Myth: The East Aurora Co-op start-up process is different, and more...read more
By Mike Benzin, East Aurora Cooperative Market Board Member and Treasurer I received an offer in the mail today. A major financial institution wanted me to open a savings account with them. Their hook? That their 0.80% interest rate was many times higher than the national average. They seemed quite proud of what they would do for me. Really. Bragging about an interest rate of less than 1%! Okay, so my money would be insured. But that’s it. Never mind that, with an annual inflation rate of about 1.5%, I’d actually lose money. And never mind...read more
Just a friendly reminder…October is National Co-op Month and we’re celebrating tomorrow at Craft Tap House (701 Main Street) with a Happy Hour from 6-8 pm. Curious about the Co-op? Come tomorrow and we’ll fill you in. If you join tomorrow, you will be eligible to win a yoga gift certificate for Healing Waters! Already a member-owner and have a friend who is interesting in becoming a member-owner, too? Come tomorrow, bring your friend, and get a special drink on us! Already a member-owner and want to hear how the Capital...read more
With Election Day fast approaching, our airwaves and mailboxes are overloaded with political campaign messages. Mailers, radio spots, campaign stop coverage, and TV spots – which are by far the worst. Charges of political corruption, misuse of tax dollars, questionable dealings, and ineffective leadership all illustrated through grainy, unflattering pictures and narrated by voiceover actors who have mastered the not-so-subtle art of infusing every syllable with disgust and innuendo. Is it any wonder we find ourselves wishing there was...read more
…and come together to help make the East Aurora Co-op Capital Campaign a success! Come to our happy hour to socialize, share in the excitement, become a member-owner, and learn more about the East Aurora Co-op Capital Campaign. Member-owners who bring a guest interested in joining will get a special drink on us, and anyone who becomes a member-owner that evening will be eligible to win a $45 gift certificate for yoga classes at healing Waters. Light hors d’oeuvres provided, cash bar. Craft Tap House Tuesday, October 14, 6...read more