For Immediate Release
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MILK MONEY L3C ANNOUNCES CITY MARKET MEMBER LOAN CROWDFUNDING CAMPAIGN
PARTNERSHIP ALLOWS ALL VERMONTERS THE OPPORTUNITY TO INVEST IN A LOCAL CO-OP
The campaign marks the ninth Vermont Small Business Offering (VSBO) on Milk Money’s Vermont-only platform giving Vermonters the opportunity to discover and invest in local businesses.
Charlotte, VT & Burlington, VT, April 16, 2018 – MILK MONEY L3C, an equity crowdfunding portal for Vermonters, announces its seventh Invest Local Campaign: City Market. Vermonters, who are Members of City Market Co-op will have the opportunity to learn more about and invest in this community-owned food cooperative via the Milk Money platform.
Milk Money offers the opportunity for true “impact investing” since a dollar invested in a local business generates potential financial return as well as tangible social return on investment. By investing in a local business such as City Market, you will circulate wealth and build a stronger community that fosters new relationships between businesses and community members. The Milk Money platform serves as a meeting place for Vermonters to discover local investment opportunities such as City Market.
City Market is a community-owned grocery store serving the greater Burlington community. The Co-op began as a buying club in the 1960s and incorporated with the State of Vermont in 1973. Over the years, the Co-op has moved location several times in line with modest incremental growth. The Co-op is Member-owned and democratically governed. Since its move to their Downtown location in 2002, Membership has grown by over 510%, from less than 2,000 Members to over 13,500 Members. In that same time period, their annual sales have grown over 160%, from less than $14 million to over $41 million. The Co-op’s capital needs are provided primarily by our Members, and any realized net earnings are used for the provision and extension of our services.
Throughout their over 45 year history, Members have invested in the Co-op to ensure its sustainability, growth and success. In 2002, when City Market moved to the Downtown location, 55 Members loaned the Co-op almost $378,000. These loans were integral to ensuring the viability of the Downtown store’s success. City Market just made another leap forward when it opened their South End store (on Flynn Avenue in Burlington) in mid-November. The community’s engagement and economic participation will once again ensure that City Market’s growth is sustainable and successful.
Vermonters who want to learn more about the City Market Loan Campaign opportunity can find investment details on the Milk Money website (www.MilkMoneyVT.com). The registration process is quick and easy.
About Milk Money
Milk Money L3C is Vermont's first third-party equity crowdfunding portal. The company's website, www.MilkMoneyVT.com, was launched in July 2015 with a mission to put the means for creating new businesses, a strong local economy and personal wealth within the reach of all Vermonters. Based in Charlotte, Vermont, it was founded by two seasoned entrepreneurs who identified a hole in the early stage capital market and created a solution that takes advantage of the Vermont Small Business Offering (VSBO) regulatory updates of July 2014.
Milk Money is powered by VSECU through its wholly owned, independently operated, subsidiary, Vermont Heritage Financial Group, Inc. Investments made through Milk Money are not federally insured by NCUA, involve investment risk, may lose value and are not obligations of or guaranteed by the credit union.
About City Market/Onion River Co-op
The Onion River Co-op is a consumer cooperative, with over 13,500 Members, selling wholesome food and other products while building a vibrant, empowered community and a healthier world, all in a sustainable manner. Now with two stores, in Downtown and the South End of Burlington, Vermont, City Market provides a large selection of local, organic, and conventional foods and thousands of Vermont-made products. Visit City Market, Onion River Co-op online at www.CityMarket.coop.