Good news! We now have over $83,500 in confirmed member loan pledges! These came from 29 members with an average loan size of $2,879! Several other people have informed us they will loan money and we are still waiting to find out the amount. This brings us to almost $100,000 in two short weeks!!
I cannot begin to tell you how my heart overwhelms with gratitude when I open the mailbox each day to so many generous offers to lend money to our community effort.
However, I feel equally grateful when my day starts with a phone call from an individual on a fixed income who wants to pay $25 toward their membership! Every small chunk of money put toward our Owner's Equity in this project helps us move forward to the goal of opening a cooperative market in Fairbanks.
Not every member will be able to do a member loan and this is fine. Each person in our growing community are appreciated for whatever they can offer. Together our community will own and control it's own grocery store. There are other ways to participate.This is a volunteer, grassroots effort and their are plenty of opportunities to volunteer.
Or Just Bring One more member into our fold. Whatever you do, you can feel pride in contributing to this "locally grown" effort.
Back to Member Loans. The beauty of this arrangement is that, unlike donating to a cause, the money comes back to you. We will realize the work of this money even sooner when our simple, but beautiful, community natural foods grocery store opens.
If you are considering making a loan to Co-op Market you may want to do some research before making this important decision. Here you will find information to help you in the process.
Even as we conduct our Member Loan Campaign our Finance Committee is hard at work planning for securing the rest of the financing for this project. Our Member/Owner Equity is of utmost important for the leverage it will provide us when we approach financial institutions.
Finally, we are also busy planning for our 3rd Annual Dessert Auction, Saturday, November 20 at Pike's Waterfront Lodge. This year's Live Auction will feature more than just desserts, with its theme of, "Food and Fun in the land of the Midnight Sun". Special musical guests, The Flyers - Pat Fitzgerald, Robin Dale Ford, Alex Clarke and Ron Veliz will provide entertainment throughout the evening. Get all the information on our blog.
Enormous thanks to the person who called our office to offer $25 and to the people who showed up at our door with Member Loan pledges or sent in a check for membership or who called to ask how they can help with the Dessert Auction. We are grateful to all of you!!
In Deep Gratitude,
Mary Christensen
Member Loan Campaign Coordinator
PS!!! LOOK how far we are coming!
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