Shared Capital Gives $40,000 back to Borrowers in Patronage Dividend
We are pleased to announce that the Shared Capital Cooperative Board of Directors has yet again approved a patronage dividend to our member-borrowers. The dividend approved in 2022 totals over $40,000 and is the largest patronage dividend that we have distributed in our 43-year history.
As a cooperatively owned loan fund, we are thrilled to be able to give this money back to our member cooperatives. The dividends are paid to borrowers as a rebate on the interest they paid to the fund. This year, borrowers are getting back approximately 5% of the interest they paid in 2021. It was distributed 100% in additional equity shares applied to member equity accounts. Members will receive details by email.
We are proud to be a member-owned loan fund with 300 cooperative members in 36 states throughout the country. By choosing to borrow or invest with Shared Capital Cooperative, you are helping to support the fund’s growth and financial sustainability so that we can continue to expand and deepen our commitment to providing financing to the cooperative movement.
The Cooperative Economy Campaign
Building the Future by Investing in Cooperation
New Investment Opportunities are Open to All
Now everyone can invest in building a strong cooperative eco-system through our Cooperative Economy Campaign. The new national direct public offering opens up the opportunity to invest is to all. You can make investments starting at $500 ranging for 3 to 10 years and earn a modest return.
A Cooperative Economy is an economy built on justice, equity, and democracy. If you want impact, Shared Capital offers opportunities for individuals, cooperatives, impact investors, foundations, and others to invest.
As always, investments provide capital to finance cooperative expansions, start-ups, and conversions for cooperatives that are making a positive impact for their members and their communities. In 2021, 97% of all loans from Shared Capital went to co-ops owned by people of color, women, individuals who identify as LGBTQ and low-income/low-resource individuals.
Interested? Please don’t hesitate to contact us at invest@sharedcapital.coop and (612) 767-2100.
Preferred Shares Dividend
We are happy to announce that Board of Directors has once again approved a dividend of 5% to our preferred share holders for 2021. We are grateful to the investors in our preferred shares for supporting this work.
Investors should watch for more information about their dividends. Here are the basics:
5% return
Issued in additional shares
pro rata based on 2021 holdings
Allocated to accounts in April 2022
Interested in investing in preferred shares? Go here or email invest@sharedcapital.coop.
New Loans and Members
Diverge Finance Cooperative founders Shétu Rose, Luciano Patiño, and Curt Klotz launched their worker co-op to provide organizations with excellent financial leadership, and to increase the lived experience of BIPOC people in financial leadership roles.
Here are some of our recent loans:
Broken Clock Brewing Cooperative
Minneapolis, Minnesota
$600,000 for the consumer-owned cooperative brewery to expand production and relocate it’s production facility and tap room.
Organic Integrity Cooperative Guild
Poulsbo, Washington
$30,000 line of credit to support the formation of the first worker-owned cooperative of professional organic inspectors and consultants.
Gimme! Coffee
Ithaca, New York
$690,000 to finance the employees buy out of a specialty roaster and coffee shop.
Alternative Technologies Cooperative
Berkeley, California
$600,000 for the employees to buy this IT infrastructure provider serving nonprofits, resulting in 37 new members in this worker co-op.
Diverge Finance
Roseville, Minnesota
$100,000 line of credit to the employee-owned cooperative financial services provider serving nonprofits and BIPOC-owned businesses to allow them to expand their service and product offerings.
Cooperative Energy Futures
Minneapolis, Minnesota
$100,000 for a new community solar project in Minnesota that will enable 180 homes to offset their full electricity costs through solar.
