Annual Report and Annual Meeting Recap

On Saturday, December 2nd, we held our Annual Meeting to share information about the financial condition of Three Rivers Market for Fiscal Year 2022-2023, which ran from July 1, 2022, through June 30, 2023. This message contains a summary of our presentation as well as our Annual Report, which can be found here.

We saw positive sales growth this past fiscal year, along with low debt (with 0.5 debt to equity); a high current ratio (2.6), meaning Three Rivers Market is able to pay off short-term liability satisfactorily; and a high quick ratio (2.1), which means our co-op has short-term paying ability without needing to sell inventory.

Each year the Board has the responsibility to decide whether to issue a patronage dividend after careful consideration of the cooperative’s financial condition. A patronage dividend is an allocation to … Read More »

At our November Board meeting, we welcomed many members who came to speak during our Member Forum and to observe our proceedings. We appreciate members’ participation in governance, which is crucial for our cooperative model to function as intended.  

Several questions raised by speakers at the forum center on suspicion of new leadership flouting product standards, enacting unethical measures to increase profit, and disregarding loss of institutional knowledge. These seem to stem from a particular view of the General Manager, which we believe does not fairly reflect his actual performance.

Public accounts of mishandling of a mis-delivered pallet to Three Rivers Market this summer have been thoroughly evaluated by the Board, including follow-up with the vendor in question, and accounts from both current and former employees. No wrongdoing has been discovered. The procedures being implemented at Three Rivers Market have been reviewed … Read More »

Anyone can shop, anyone can join – this idea is a foundational value of Three Rivers Market, and this inclusive approach is an integral part of our identity. As is democratic member control.

Cooperatives are democratic organizations controlled by their members, who can have a voice in setting policies and in making decisions, and Directors serving as elected representatives are accountable to the membership. Members have equal voting rights (one member, one vote), and at Three Rivers it’s time to exercise your franchise.

Our annual Board election is upon us, and we have five candidates running to fill three Board seats. As members, we have more than a right to participate – we have a responsibility to engage in this democratic process. When everyone participates, everyone wins. We learn about each other, about cooperation, and we learn how we … Read More »

Dear Members of Three Rivers Market,

In our most recent Board News post, we responded to member inquiries about the relationship between the Board of Directors and the General Manager. We encourage members to revisit that post, along with our policies, to better understand the foundation of members’ governance of our co-op via an elected Board of Directors.

This month we would like to share updates regarding issues that are very important to members.

Local produce and other local products. We welcome new Produce Manager Sarah Bush, a highly respected professional with extensive experience in sustainable growing practices, local agriculture, and retail produce. We look forward to her strengthening Three Rivers Market’s relationships with long-time local produce vendors. Local products in all departments, including produce, are a treasured and essential component of Three Rivers Market’s offerings.

Product standards. Product standards are of the utmost importance to Three Rivers Market … Read More »

This year’s National Co-op Month theme is “Owning Our Identity.” Co-ops empower their co-owners to establish a vision for the cooperative that is carried out operationally. So how does this work? Through a collaborative relationship between the Board of Directors and the General Manager.

The Board and General Manager actively cultivate a relationship rooted in equity, respect, and mutual support. Board policy stipulates that we work collaboratively and transparently with the General Manager in addressing any issues as they arise.

We recently received messages from members that expressed concerns regarding this governance relationship. In light of this correspondence, we would like to share some ways the Board and General Manager have worked cooperatively in the last 18 months to establish trust, improve oversight, and require transparency in our governance process.

Members elect a Board of Directors that delegates authority to the General Manager … Read More »