Are you fed up with spending too much on necessities? You can actually get paid to shop, did you realize that? It’s known as a patronage payout, and we’re here to explain it to you in full.
What is a Patronage Dividend?
A patronage dividend is a payment a cooperative makes to its members in accordance with the volume of revenue they have generated for the cooperative. In essence, it’s a portion of the co-earnings op’s that is given to its members.
How Does it Work?
Consider the case where you shop at a co-op food store. You’ve spent a total of $500 at the shop over the course of the year. The co-op chooses to give its members a patronage dividend of 10% after calculating its profits for the year. That implies that your portion of the earnings would be $50.
Why Should You Care?
A patronage dividend encourages you to keep buying at the co-op as well as rewarding you for your purchases. In terms of patronage dividends, the more you invest, the more you’ll get back. You will also have a say in how the co-op is managed because co-ops are owned and run by their members.
Where Can You Find Co-ops?
There are co-ops in many different sectors, including grocery shops, credit unions, and insurance firms. Find local co-ops by doing some research, and think about joining to start receiving patronage rewards.
An excellent method to get paid for something you already do is to shop is through a patronage dividend. You will receive a reward for your loyalty as well as a voice in how the co-op is managed. What are you still holding out for? Earn those profits right away!