An Update from our Board of Trustees
Dear Sno-Isle Food Co-op Owners,
We have exciting news to share. As you may have read in the April edition of The Tonic, we are actively working toward relocating Sno-Isle Food Co-op to a new home — one that will let us better serve our community for years to come. We don't yet have a new location to announce, but we are putting the pieces in place, and we want you, our owners, to be part of making it happen.
One of those pieces is giving owners the opportunity to invest directly in the Co-op's future through preferred shares. To do that, we first need to update our articles of incorporation — and that requires a vote of owners. To prepare for that vote, which we hope to hold as soon as June, we need to ensure our definition of "active owner" is current and clearly reflects who is eligible to participate. This change will not affect your ownership status. It will only help the Co-op to determine the number of votes required to change the articles of incorporation and other significant Co-op matters that require a vote of the owners.
At our April Board meeting, we agreed to consider updating that definition at our next meeting on May 11. Under our bylaws, this kind of update requires notifying owners in advance. The proposed change would define an active owner as someone who:
is current on their ownership payment, or has paid in full, and
has patronized the Co-op within the last year.
For reference, our current bylaws read:
2.7 Responsibilities. Owners shall patronize Sno-Isle, keep current in equity investments due to Sno-Isle, shall keep Sno-Isle informed of any changes in name or current address, and shall abide by these by-laws and the policies and decisions of the Sno-Isle Board. An owner who upholds these responsibilities and has either paid their equity in full or has made a payment within the 60 days prior to the month for which the determination of active ownerships is being made is considered an active owner in good standing unless the ownership has been terminated.
We welcome you to join us at our Board meeting on May 11, where this update will be considered. Meetings are held on the second Monday of each month in the Co-op Boardroom from 6–8 p.m. Please reach out to botassist@snoislefoods.coop to let us know you plan to attend or if you'd like to speak to this item or any other Co-op business.
Thank you for your continued support of Sno-Isle Food Co-op. We look forward to sharing more as this exciting chapter unfolds.
Warm regards,
Your Sno-Isle Food Co-op Board of Trustees
Barbara Bengtsson, Treasurer
Sean Burke
Tyler Chism, Vice President
Tye Ferrell, President
Steve Moore, Secretary
Linda Nelson
Brandy Taylor
Laura Young
