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Become a memberAs a community owned retail co-operative, the Barossa Community Store is a rarity in Australia, and regarded as an icon among residents of South Australia's wine famous Barossa Valley. Benefits of membershipAs a community owned retail co-operative, the Barossa Community Store is a rarity in Australia, and regarded as an icon among residents of South Australia's wine famous Barossa Valley. Co-operative membership requires the purchase of at least one $2 share. This is called share capital. Members may invest up to $50,000 in share capital (25,000) shares. At each Annual General Meeting in June the Members approve the Directors recommendation on the share capital interest rate for the following year (from 1st of July). The recommended 2011-2012 interest rate is 6.5%.
Members share in the profits according to shopping support. We call this Members' Rebate. The invitation to rebate is established by the purchase of just one $2 share! This has not changed since the Co-operative formation in 1944. Rebates are declared in January by the Board of Directors after considering the profitable performance of the Co-operative. Members' expectations must be balanced with the ongoing financial needs of the Co-operative. The declared rebate for the last financial year, 2010-2011, was 1.0% on all qualifying purchases. Total rebates last year amounted to $522,363. Half to shares/ Half at call. Rebates are available from our Members' service office located in the Barossa Mall. Members who choose to leave their rebates invested in the Co-operative are further rewarded with interest calculated daily and paid at 31 January of that financial year. The current interest rate is 4.5%, Rebates transferred to share capital attract the higher interest rate of 6.5% (reviewed at each AGM). Please contact our company secretary, Mr Trevor Schmidt for further enquiries. |
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The Community Co-operative Store (Nuriootpa) Ltd Trading as The Co-op Heart of the Barossa |