Looking for a way to help the Co-op? Believe it or not, this is the time when the Co-op has the least amount of cash in the bank. We make all of our money (all of it!) in July and August and we lose money (most of it!) in January and February. In the spring, we’ve used all the cash we accumulated from the summer for staff payroll and projects so we don’t have much; however, we need cash in order to stock up for the summer and start training new staff.
Obviously, we encourage you to shop the Co-op all the time, but you can also help during cash crunch season by using your charge account. If you have extra cash, put it into your account and draw from it for your future purchases. The cash in the bank helps us, and you have a convenient way to pay without cash or a card.
And, if you’re not using your charge account, we encourage you to use cash or a debit card instead of a credit card. We paid over $22,000 in card processing charges last year, and most of that is for credit cards – the rates on credit cards are between 1% and 3% but debit cards are generally less than 0.3%. Of course, cash is 0% so that’s always best.