Let’s Raise $400,000!
Support the Co-op and provide a loan that gives 4% interest back to YOU.
Weavers Way is in an aggressive growth period in which our membership has increased by 40% since our last Member Loan campaign, which ended in December, 2016, with a total of $1.5 million raised.
The addition of our third store, in Ambler, has contributed much of this growth, but new members are joining in each of our communities as more people turn to the Co-op as a source of healthy food and community engagement. We have also experienced significant sales growth.
Employment, member services and community programming have also increased exponentially. Weavers Way now employs about 250 people, up from 148 at the end of 2016! With new members, three stores and increased interest in our popular educational and nutritional programs, our entire organization has had to “scale up.” This process of growth has been capital-intensive but, as a result, we now serve more people and provide more opportunity for them to learn about how co-ops benefit the local economy; healthy and sustainable living; and more.
We’d like to offer the opportunity for members to invest in the Co-op at this time of incredible growth! Your dollars stay in the local economy, which helps provide jobs, strengthens our local food system — including our regional farmers — and makes Weavers Way a more resilient organization today and in the future.
Member Loan Specifics
Through June 21, 2018, with a minimum of $1,000 (no maximum!):
- 4% interest (per annum) for 6 years
- Simple, not compound, interest to be paid at the end of the loan period
- Must be a PA resident
Payment can be made to Weavers Way via check delivered by mail or in person, or online by credit card in the Weavers Way Member Center. Lenders must be Weavers Way members and Pennsylvania residents. Member loans are unsecured and subordinated to banks and other lenders.
Strengthening and Financing
We need to keep up with this growth while ensuring continued financial strength. “Together We Grow Phase II” will provide us with greater financial flexibility, building up our cash reserves while also giving us the opportunity to pay down commercial debt. Paying interest to our members is our preference!
Highlights from Together We Grow Phase I
In our first loan campaign, we raised $1.5 million from nearly 300 households. Our success allowed us to rely less on external sources of funding to open our new store in Ambler.
Lenders came from a diverse group of members, from Ambler to Mt. Airy, with an average loan amount of $3,000 but broadly spread across a wide range of amounts:
Invest in Your Co-op
When you invest in your Co-op, you are supporting your community and a different kind of business than other places you may choose to invest. We provide important economic anchors in our neighborhoods and thrive on the participation of our 9,000+ member households. Other ways we are different:
- Our profit stays with our members.
- We are a “triple bottom line” business. We focus on people and planet as well as profits.
- We are run by members of our community, with our community’s interests at heart.
- We value volunteering, giving discounts to members who offer their time to the Co-op or organizations in our community.
- We seek sustainable solutions to feeding ourselves and our neighbors, running a farm with sustainable practices and encouraging recycling and zero-waste measures.
- We actively support local nonprofits, including our own allied organization, Food Moxie.
- We are committed to nutrition education and food justice.
Join us at the following events to find out more about making a member loan:
- Tuesday, May 22: 6 p.m. reception, 6:30-7:15 presentation at the Ambler Theater, 108 E. Butler Ave., Ambler
- Wednesday, June 6: 6:30-7:30 p.m. in our Ambler store café
Finger foods and drinks provided. RSVP to firstname.lastname@example.org so we know how many chairs to put out!
Check back often for more information and store promotions showing signs of our progress! In the meantime, if you have questions and wish to get in touch with us, please contact:
- Member Loan Committee co-chairs:
Laura Morris Siena
email@example.com or call 215-206-2110
- Membership Manager Kirsten Bernal
firstname.lastname@example.org or call 215-843-2350, ext. 119
Thanks for helping us grow!
(We're also launching Phase II of our Together We Grow Equity Campaign! Click here to learn more about how members who make a one-time $400 equity investment can receive a $100 credit to their EasyPay house account.)