MEMBERSHIP

How to Join the Hornby Island Co-op

Visit the Customer Service Desk in the main Store to fill out an application. Please note that you will need your SIN and your mailing address. 

To become a member, you purchase shares in the Co-op for a one-time payment of $70. The entire $70 goes into your equity. You can pay with cash, cheque, debit or credit card.

Applications are always pending approval by the Board but you can use your new membership # and a 10% day voucher at the tills right away.

Discover the Benefits

The money raised from shares allows us to develop as a business and give back, in many ways, to the community.

Invest Locally: Support a wholly locally owned and controlled business where opportunities and savings stay in the community.

Shop Locally: Purchase groceries, hardware, petroleum, building supplies, garden supplies and more, right here on the island.

Engagement: Contribute ideas and comments by talking to staff, managers and members of the board of directors, or by using the comment forms available at the Customer Service Desk. Have a voice in the future. Vote at general meetings, and elect representatives to the Board of Directors – or run for the Board.

Patronage Dividends: Each year profits are shared among members. Receive cash and grow equity when our operation realizes a net saving. Allocation is based on how much you spend at the Co‑op (patronage). Watch your investment grow with each purchase.

Community Investment: Support a socially responsible organization, dedicated to the well-being of the community for over 60 years.

Save Money: Members are entitled to two 10% days each month and are eligible to participate in special sales, draws and events.

Equity

The below FAQ regarding equity are from co-op.crs

How Does Cash Back and Equity Work? (video)

How does equity and cash back work?

As a Co-op member, you are a part-owner of a co-operative business, and are entitled to share in the profits of your local Co-op. These profits are given back to members in the form of equity in the business, and potential annual cash payments.

What is equity?

Each year, your co-operative chooses to return part of its profits back to members as equity, based on how much you shop at Co-op and how well your Co-op performs. The more you shop Co-op, the more your equity account grows!

What is cash back?

Your locally-elected Board of Directors decides whether to pay members part of their equity in cash each year. The Board chooses a percentage to pay out for each business line (for example, 1% on fuel purchases and 1.18% on grocery purchases). These percentages change every year, based on the local Co-op’s profits.

Do all Co-op members get cash back and equity?

Only members who shop at Co-op will earn equity in their business. The more you shop, the more you earn!

What purchases qualify for equity?

Members earn equity on everyday purchases, like fuel, grocery, liquor and more. Equity is not earned on gift cards, lotto, or tobacco products.

When do I get my money?

Cash back and equity payments are made once per year, at a date determined by your local Co-op. Your local Co-op’s bylaws will specify the age that members can apply for equity repayment, which is when the Co-op will start paying back the equity you’ve earned.

Can I earn equity when shopping at another Co-op?

You can earn equity when shopping at any local Co-op where you hold a membership. Each Co-op association provides you with a unique member number, which ensures your purchases are tracked to your own personal equity account. There’s no limit to the number of Co-op memberships you can hold!

Why I didn’t receive any money this year?

If you didn’t receive any cash back this year, it is likely because you didn’t shop enough at Co-op to qualify for cash back. Although it varies by year and association, members who receive cash back typically spend at least $100 per month at Co-op.

Why does GST appear on my equity statement?

The GST line on your equity statement represents the government sales tax associated with your payment allocation. If you’re registered for GST purposes, the portion of the GST related to business use must be included on line 104 of your GST return.

What is the Withholding Tax on my equity statement?

Patronage allocations over $100 are subject to a 15% withholding tax that is deducted by your local Co-op and submitted to the Canada Revenue Agency on your behalf. You will receive a T4A statement that shows your total patronage allocation and the amount of tax withheld and remitted on your behalf.

Explanation of your T4A

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