Plainfield Co-op is on the move –
Together we can!
Offer so much more than a grocery store…
Better serve the needs of our neighbors…
Expand the cooperative spirit throughout our community…
And invest in the next 50 years of the Plainfield Co-op!
The Plainfield Co-op has been feeding our families and building community for half a century. At 51 years old we are on the move! Help us seize this opportunity to provide a grocery and hardware store that meets the needs of our families and neighbors, and a market for local producers and growers, as we serve our rural communities.
Our cooperative principles, deeply rooted in our community since 1972, prioritize equity and democracy, independence and self-governance, with elected representatives implementing the policies and direction determined by the members. In asking for your support with loans and donations, we continue our proud cooperative tradition of member-ownership and support.
Why now?
● Our current small store cannot provide the variety of grocery choices our community wants, and the low volume of sales impacts the prices we can offer.
● Lack of land and parking limits who we can serve and our ability to expand in place.
● We have a once-in-a-generation opportunity to purchase a successful retail business in a prominent location, and expand our cooperative family for the next 50 years.
What are the benefits?
● Doubling grocery space with more selection and lower prices.
● Longer hours and a beehive of community on the weekends.
● Bringing the cooperative spirit to a grab-and-go deli, hardware, farm and garden
supplies, and seasonal greenhouse products as well as grocery.
● Merging (and increasing) our loyal customer base from both locations.
● Expanding beyond the 125 local producers and farm suppliers we currently stock.
● More parking and easier access into the building.
● Expanding our staff with more opportunities for career development.
● Providing jobs locally with an employee team of 25 to 30 people.
● Keeping our dollars local and investing in the local economy.
As we get established in our new location, exciting opportunities lie ahead:
● Expanding the greenhouse season and creating community gardens.
● Becoming a destination for Vermont products and local producers
● Decreasing our carbon footprint by offering EV charging, installing solar panels and retrofitting the store’s HVAC systems.
Can we do this?
82% of members who voted at the Plainfield Co-op 2023 annual meeting gave a resounding thumbs-up to the move. With 635 active members, more than a 1,000 on our mailing list, and an open invitation to our neighbors and neighboring communities to be part of the next half century… Yes, we can do this!
By way of comparison, the recent Buffalo Mountain Co-op campaign in Hardwick raised $167,000 in donations and $523,000 in loans. The Caledonia Co-op project in St. Johnsbury raised $1 million of their $2 million goal to purchase their building – in a matter of weeks!
How is this being paid for?
Taking over a viable business has great advantages, including seasoned employees and an existing revenue stream that has been thoroughly vetted by our financial advisors and lenders. To date, we have raised $1.55 million with a commercial loan and seller financing. We need to raise $500,000 in loans and $70,000 in donations to complete the campaign.
What are the terms of the loan?
● Loans are open to any Vermont residents (not a Vermont resident? Talk to us!)
● Loan amounts begin at $2,500
● Earn 2% – 3% interest based on loan amount
● Interest payments made annually during the life of the loan
● Loan terms range from 7 to 16 years
● Loans are not donations or preferred shares
● Loans are unsecured and subordinate to all other financing
● Investors may remain anonymous if so desired
● Tax deductible donation option available
How do I make a gift or a loan?
Donations are accepted in any amount. You can donate at the store, or write checks payable to Plainfield Co-op. If you itemize your taxes, you can make a tax-deductible donation payable to Cooperative Development Institute, our non-profit fiscal sponsor. Or you can give online at https://givebutter.com/plainfield-co-op.
For loans, you’ll need to fill out the required paperwork. Contact Rose Paul at 802-461-5032.
How can I learn more?
– Read our FAQ on the Co-op website:
https://plainfieldcoop.com/plainfield-coop-expansion-project/
– Follow us on Co-op Social Media
– Talk to one of our board members: board@plainfieldcoop.com