8. I’ll wait for the co-op to open before becoming a member.

9. Will the Dieppe co-operative pay out patronage dividends to its members?

10. While construction is going on, can I shop at other Co-ops?

11. When is the construction/opening of the co-operative scheduled for?

12. Can I get my shares back from Co-op Centre?

1. What is a co-operative?
A consumer co-op is an association of people who have come together with a common goal: a business that will meet their needs. Members have complete control over the business. They elect a Board of Directors and they all have an equal say at the co-op’s meetings. Back to top

2. Why do we need a co-operative in Dieppe?
Before starting this, a group of Dieppe-area people asked themselves that same question. They agreed that it is more and more important that people keep a portion of the money they spend here in their community. In a co-operative, profits are returned to the members based on their total purchases, instead of to shareholders interested only in how much money their investment can get out of the community. Back to top

3. Will the Dieppe co-operative be similar to Co-op Basics?
No. Our focus is a grocery store that will offer a wide selection of fresh local products, while maintaining the excellent customer service Co-op stores are known for. We believe the grocery store should reflect the population of Dieppe, although membership will be open to everyone.  Back to top

4. Is there a possibility I may lose my $50 investment if the project does not go ahead?
Absolutely not. Shares will be held in a trust account until the store is built. However, once the co-operative opens, your investment will be subject to the same conditions as any other investment in a co-operative. Shopping regularly at the co-operative and encouraging other people to join will protect your investment.  Back to top

5. Where will the new co-operative be?
The Co-op has an option to purchase an eight-acre piece of land on the new Dieppe Boulevard, at the corner of Chartersville Road. We chose that location with the future in mind. According to an independent study, Dieppe Boulevard will become one of the busiest roads in Dieppe. Dieppe Boulevard will also be extended into Fox Creek, so it will be very convenient for our members in Memramcook. Back to top

6. How much share capital must I invest to become a member?
You must purchase two shares worth $25 each for a total of $50 to become a member. You then subscribe for, or agree to purchase, 18 more shares for a total of $500. These 18 shares must be paid for from your portion of annual patronage dividends until you reach $500. If the co-op doesn’t declare a patronage dividend in a given year, you will not be required to invest share capital. The Co-op’s bylaws have provisions for members who wish to invest additional share capital up to $2500. Back to top

7. How do you explain your slogan?
Our slogan reflects the essence of our grocery co-operative. We want our co-operative to be a store where the people of Dieppe and surrounding area feel at home, all the while knowing they are the collective owners. Back to top

8. I’ll wait for the co-op to open before becoming a member.
It’s important for people to understand that in order to move forward, we must meet certain criteria. One of those criteria is the number of people who will purchase a membership. For example, financial institutions will want to make sure the population supports the co-operative before they agree to finance the project. Furthermore, a person who buys a membership before the store opening will have the privilege of being a founding member of the Dieppe Co-operative. Be assured that if you invest $50 to join the co-operative but that the project doesn’t meet recruitment targets, your shares will be refunded.  Back to top

9. Will the Dieppe co-operative pay out patronage dividends to its members?
A consumer co-operative normally pays out patronage dividends when it makes a profit substantial enough to allow a payout to members, based on their yearly purchases. Usually, the Board of Directors sets the dividend rate, then makes a recommendation to members during its annual meeting. If there is no profit, the Board of Directors cannot recommend that a dividend be paid out.   Back to top

10. While construction is going on, can I shop at other Co-ops?
Yes you can. Once you become a member of the Dieppe Co-op, you can shop at any consumer Co-op in Atlantic Canada. Some of the benefits include earning Co-op Cash – which is also available at the Co-op Express in St-Anselme. Co-op members can earn up to 3.6 cents a litre in Co-op Cash, which is redeemable in gas or food purchases at participating co-ops. Back to top

11. When is the construction/opening of the co-operative scheduled for?
Our goal is to recruit around 1,600 members by November 2005 and to open the co-operative around May 2006. At that time, we expect the co-operative will be 2,200-members strong. Back to top

12. Can I get my shares back from Co-op Centre?
No. The Dieppe Consumer Co-operative and the former Co-op Centre are completely independent of each other. In the late ‘90s, Co-op Centre experienced a series of negative financial results, to the point where its shares no longer had any value. Co-op Centre was then closed in 2000 and its equipment and facilities sold to the Consumers’ Community Co-operative, a regional co-operative with stores throughout Atlantic Canada. At that time, members of Co-op Centre received a letter informing them of their eligibility to claim a Business Investment Loss through their income tax returns. Back to top

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