Thank you for your investment in the Co-op! You directly helped our community grow! You can hold onto your C-Shares as long as you like and continue to collect the Preferred Share Dividends the Co-op pays out annually.
The Finance Committee and Board of Directors will review and approve requests to redeem on a quarterly basis. Quarterly financial reports are issued in November, February, May and August. The Finance Committee of the Board will review requests to redeem C-shares on a rolling basis each November, February, May and August. The Finance Committee will make a formal recommendation of requests to approve to the Board of Directors at the meeting for these respective months. We anticipate that any approved redemption payments would be made in a timely way following Board approval.
The Finance Committee will consider requests and recommend redemptions for Board approval based on BCC’s overall financial health and current cash position. The Co-op also has accountability to other lenders and our ability to redeem C-shares depends on our lenders approval of the Co-op’s debt service ratio. The Finance Committee aims to ensure the financial stability of the Co-op and make every effort to meet the requests for redemption. Requests will be prioritized in the order in which they are received. If a request cannot be recommended for redemption due to financial considerations, the request will remain on the list until such time as the Board approves it or the owner rescinds the request.
If you are a current Preferred Share Holder and would like to request redemption, please follow this link to complete a brief form.