Becoming a Member-Owner of Wasatch Cooperative Market (herein after "The Co-op") is a unique opportunity. Co-ops are formed by individuals who (1) have common needs; (2) decide to join together collectively to solve those needs; and (3) agree to share the economic returns by rewarding Member-Owners who patronize the Co-op.
The Co-op formed and organized because we anticipate that member-owners will join for the purpose of procuring healthy food products and services for the well being of their families and the community. A co-op is unique in that Member-Owner patrons control it and receive the economic returns in proportion to their patronage of the co-op. Therefore, you should know that the Member-Owner unit you purchase is not expected to appreciate in value, nor will a dividend or other return be paid on it. Consequently, the Member-Owner unit is not a security under the law. Further, your voting privileges depend on your patronage of The Co-op. If you do not patronize The Co-op, your voting privileges may be canceled by action of the Board of Directors. Proceeds from the purchase of member-owner units will be used to pay for operating the Wasatch Cooperative Market, including, at this stage of development, feasibility studies and further evaluation of whether The Co-op has reasonable business prospects to generate sufficient revenue to pay for the costs and expenses of operating a business. The Co-op is under no obligation to redeem your Member-Owner unit unless The Co-op dissolves. If dissolution occurs The Co-op may be unable to redeem your member-owner unit.
At no time during the development stage or within 18 months of opening is your Member-Owner unit or any portion thereof redeemable. Following this time period your Member-Owner unit will only be redeemable when The Co-op has available capital or when redemption of your Member-Owner unit will not ﬁnancially endanger The Co-op.
If redemption occurs, the current value of your Member-Owner unit may be established by the Board of Directors at the time of redemption.