It’s official – GreenTree is working to complete the Capital Campaign we started before making our BIG MOVE to 410 W Broadway in downtown Mt. Pleasant. We had to pause the campaign following the relocation in order to focus on running the new (and much larger) GreenTree and learning the ins and outs of business in the space. Now that we are beginning to establish a new routine, it’s time to raise the final $257,000 needed to fully fund the campaign. We are doing that primarily through selling Preferred Shares.
What is a Preferred Share?
Preferred shares are dividend-bearing investments. They differ from the $210 share that every
Co-op Owner is required to purchase in these ways:
►Preferred Shares carry no voting rights or Ownership status;
►A Preferred share dividend is based on the size of the investment rather than on the amount of purchases made at the Co-op;
►Preferred Share purchases are optional investments made at each individual’s discretion.
What do I need to know?
1. We are selling Preferred Shares to meet the financial goals set before our move to the new space.
►We will use the money for ongoing support of our expansion project.
2. We are a local business that is owned by the community!
►We focus on supporting local farms and suppliers and creating more jobs in central Michigan.
3. Economic participation by our Owners is part of the cooperative difference.
►The ability of the public to buy shares to support expansion is unique to Co-ops.
4. Preferred Shares enable us to offer more to our Owners and shoppers through continued improvement.
►A parking lot, a larger produce department, a hot bar, and indoor deli seating were just the beginning.
5. Our goal is to raise the full total of $1,000,000 with these shares. We will cap the final leg of the campaign at $257,000, negotiating terms on a first come basis.
6. Any Michigan resident (18 or older) is eligible to purchase a Preferred Share! Co-op Owners, Michigan residents, and businesses based in Michigan are all welcome to invest in our project.
►Businesses based/incorporated in Michigan are also eligible to purchase shares.
►Share Packets are available by request.
7. The minimum share size is $1,000 – beyond this the value can be increased by any increment – i.e. $2,500, $4,300, $9,020, etc.
8. You will receive an Annual Dividend.
►The interest rate is 2% – 4% for all Preferred Share purchases.
9. Simply request a Preferred Share Packet for further details. An Offering Memorandum will be provided at that time.
10. We moved in December of 2021! Together we can support a store that meets our shoppers’ needs, builds the local economy, creates jobs, and encourages environmental responsibility!
What are the risks?
Despite our successful history, lending money to GreenTree should be considered a speculative investment that involves some degree of risk. These risks are described in the Offering Memorandum, a copy of which will be provided upon request.
Preferred Shares are investments in the quality of life of the Mt. Pleasant community. These shares contribute to the growth of the community, the growth of the Mt. Pleasant economy, and the promotion of healthful, natural, local food. Though the share represents a possibility for financial growth, an Owner should consider the fulfillment of the Ends Policies of GreenTree Cooperative Grocery as the primary benefit of purchasing a Preferred Share.
Where are we now?
GreenTree’s portion of this mixed-use development cost $3 million. Our goal is to raise $1 million in Preferred Shares to finance the continued operation of the new store as we work toward our pro forma goals. As of January 2024 we’ve raised $728,370! We opened our doors at 410 W Broadway in December of 2021.
To receive a copy of the Offering Memorandum, contact:
Megan Fisher – General Manager – megan@greentree.coop
Laura Coffee – Marketing & Owner Services Manager – laura@greentree.coop
If you would prefer to make a donation to the campaign, simply follow the instructions on this page.
