When member-owned food co-ops make a profit, it goes to the shareholders – the members – in various forms.
The Wedge Food Co-op, Minneapolis, has reached a milestone: the annual refund to members is $1 million dollars. The refund is 80% of the member-generated profits.
While the average member got a check for $58.31, the largest check to a household was $974; the refund is about 3.5% of a member’s purchases for the last fiscal year.