July Change for Change: River Valley Co-op Low Income Owner Assistance Fund
The River Valley Co-op Low Income Owner Assistance Program gives everyone, regardless of income, an opportunity to become an owner of River Valley Co-op along with all the great benefits ownership brings. This program is for local residents who are committed to supporting our co-op by becoming co-op owners, but who might not otherwise be able to afford to join.
Full co-op ownership costs $150. Participants in the Low Income Ownership Assistance Program pay fifteen monthly installments of $5 (for a total of $75 upon completion). River Valley Co-op pays the other half of the share ($75) as a loan from the Low Income Ownership Assistance Fund. Repayment is optional, but if you find in the future that your circumstances allow you to repay the $75, that amount will then be contributed back to the Low Income Ownership Assistance Fund to help future co-op owners.
You are eligible to participate if you value cooperative ownership rights and responsibilities and you find that you have difficulty affording either the full $150 ownership or the $25/month installment program. You alone determine whether you need the support of this program to become a co-op owner. The funding comes from co-op owners who have donated to the program to ensure that ownership in the co-op is accessible to everyone, regardless of income.