Who can become a member of the cooperative?

“Eligibility is open to any resident of Latah County, Idaho who is 18 years of age or older, supports the Cooperative’s mission and purpose, and is willing to accept the responsibilities of membership.  

Eligible persons may apply for membership on a form provided by the Cooperative. Pending approval of the membership application by the Board of Directors, each prospective member shall purchase one (1) share of Class A common stock, currently expected to have a book value of $1,000.”

What if I move out of Latah County? Can I keep my membership?

No. Upon termination of membership (for any reason), the Board is given two options: (1) The Board can choose to cash out the terminated member entirely by redeeming the full value of their Membership Share and Allocated Equity OR (2) the Board can convert their Membership Share and Allocated Equity to an amount of Class B Equity Stock of equal value, keeping the funds within the cooperative. This second option provides a safety valve, allowing the Board to keep all funds held in the terminated Member’s name within the cooperative until the Board determines that the cooperative is in a position to redeem them. When it is, redemption can be done gradually and over any time horizon at the discretion of the Board.

Membership shares must be sold back to the co-op if a member moves away. Share transfers can be facilitated by the board, but shares are not tradeable.

When will the articles of incorporation and bylaws be available?

The bylaws are posted on the website and the articles of incorporation documents (filed in August 2025) are available upon request.

Why is MCIC incorporated in Minnesota but operating in Idaho?

Minnesota has favorable laws for cooperatives. It’s common for co-ops to incorporate there while operating in other states.

When will investment share terms and offering documents be available?

Offering documents will be posted as soon as they are finalized and filed with the U.S. Securities and Exchange Commission.

What about liquidity—can I cash out my shares if I leave?

MCIC will likely put its capital to work as real estate investments, required reserves, and operating funds to achieve long term goals.

The Cooperative may limit redemption of stock until such time as the Cooperative has received replacement capital, or according to other terms and conditions as established by the Board at its discretion to ensure the proper financing of the Cooperative. 

If you terminate your membership and expect your funds returned on short notice, you should be aware that may not be possible.

How will properties be managed once purchased?

The board of directors will make property management decisions, with the Business Development Committee providing recommendations.

Are pledges binding?

No. Pledges made before incorporation are non-binding but help gauge interest and inform planning.

Is there a plan for dissolving the cooperative if needed?

Yes, a dissolution clause is included in the bylaws, which will be available for member review.

Is there a cap on how many shares a person or business can buy? 

Each person can buy one membership (voting) share. The cap on non-voting investment shares will be determined by the board.

Why are investment shares only available to Idaho residents?

Offering shares out-of-state requires costly SEC filings. For now, only Idaho residents may invest.

Can people outside Idaho support the co-op?

Donations may be an option for non-residents. MCIC is exploring how to accept donations legally and properly.

Will MCIC use only member investment, or also take loans?

The co-op may use both member funding and loans if needed. The board will decide the financial approach.

Will MCIC invest in residential properties too?

Initial focus is on commercial real estate in downtown Moscow. Mixed-use properties may be considered. Residential partnerships could happen later.

How will the first board of directors be chosen?

The initial board has been appointed and is staggered into 1-, 2-, and 3-year terms. Elections will follow to maintain rotation.

What is the goal for total membership?

MCIC Articles of Incorporation authorize the Board of Directors to establish and issue shares of Class A common stock corresponding to one share per member. 

The Board will determine a real estate acquisition strategy, develop a supporting capital campaign plan, and conduct a stock offering with the goal of sufficient membership to capitalize the Cooperative’s strategy. An ambitious prospectus could include the purchase of  property in the  Moscow central business district. That would likely require a goal of over 1,000 members.

Can couples jointly hold investment shares?

No, shares must be purchased individually.

How do we decide which properties are acquired and who gets to rent a building once it is purchased by the cooperative?

The Board of Directors will ultimately make final decisions regarding property acquisition, property occupancy and usage. MCIC Directors will develop a strategy and prospectus for real estate acquisition and management in accordance with MCIC’s values and vision. This will involve engaging with owner/members.

The circumstances of property investment decisions and tenant decisions will play out as MCIC completes a capital campaign, develops a corresponding strategy to enter the commercial real estate market, and specific properties become available.”