RIVER VALLEY Co-op LOW INCOME MEMBERSHIP ASSISTANCE PROGRAM
What is the Low Income Ownership Assistance Program?
The Low Income Owner Assistance Program gives everyone, regardless of income, an opportunity to become a co-op owner of River Valley Co-op and enjoy all the benefits of being a owner of the co-op.
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.
How does the program work?
A owner equity share in River Valley Co-op costs $150. Participants in the Low Income Ownership Assistance Program pay 15 monthly installments of $5 (for a total of $75) and River Valley Co-op pays the other half of the share ($75).
The $75 paid by the program is a loan. 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.
Who is eligible?
You are eligible 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.
If you would like to learn more about the benefits and responsibilities of being a co-op owner, stop by the Customer Service Desk.
How may I apply?
If you are interested in receiving assistance to become a co-op owner, please stop by the Customer Service Desk and fill out an application. Applications will be processed on a first-come, first-served basis and granted if funding is available.