Credit accounts

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Credit accounts

Setting up an account

Several groups at the university have credit accounts with the co-op. They pay a lump sum of money at the start of the semester, and then any purchases they make are deducted from it. Groups can become members of the co-op paying the annual $20 administration fee. Organisations cannot become members of the co-op. For groups with similar aims to the co-op, such as bike club or the enviro collective, the discount is 25%. For other groups, such as women's collective, the discount is 15%. As of March 2009, groups with a credit account are:

  • Education; Welfare; Ethnic Affairs (a.k.a Cultural Diversity or Anti-Racism); COFA; Environment; Women's; International; Queer; Indigenous; Students with Disabilities; Postgraduate (Arc SRC collectives)
  • Brewers' Guild; Bike Club (Arc clubs)

Recording purchases

When a group buys from the co-op, you don't ring it through the till. Put the MISC and GST amounts (separately) with the group's name on the bottom of the weekly takings sheet, in the “Credit Account” section e.g. Women's, $10.50 MISC, $1.00 GST Do not apply any discount; that's done afterwards by the finances person.


Topping up accounts

You can find out how much you have left in your credit account by emailing finance@thoughtfulfoods.org.au. In order to top up, send an email asking for an invoice for the amount you're topping up. Then, get a cheque from Arc made out to Pigweed Food Cooperative t/a Thoughtful Foods, and bring it to the shop.

Instructions for the purchaser

If you're buying from the food co-op, you'll generally want to get a mix of items. Follow these instructions to make sure you don't over-pay:

  1. Put the platter on the scales. Press "TARE".
  2. Using the scoops and tongs provided, put some of what you want (e.g. dried apricots) onto the platter. Key in the price on the scales. It will tell you the price.
  3. Record the price on a piece of paper.
  4. Remove the platter from the scales. Press "TARE".
  5. Repeat steps 1-4 until you have everything you want.
  6. Give the piece of paper to the food co-op volunteer. They will make a record and it will automatically be deducted from your credit account.

N.B. The amount deducted will be less than what you've written down, due to your discount.

Rules for credit accounts

General usage of credit accounts rule - must be used at least once a semester, min spend $20. If not used by week 10, they get a reminder letter telling them to use it by stuvac or lose it or pay a $20 reactivation fee. Letter includes option to transfer it to another ARC club or collective or group if they don't think they are going to use it – this letter must be received within 3 weeks. But that new group must use it by stuvac, or we deduct the reactivation fee. Fee will be deducted in the week after the end of exams.

This does not apply to summer or winter semesters.

Letter also includes option to just let the co-op absorb the remaining balance (they need to actively nominate this option). If the balance of the account is less than the $20 reactivation fee and they don't use it by stuvac, we absorb the remaining balance and close the credit account.


Promoting Credit Accounts

The following is a useful letter to send to prospective credit account holders:

Dear: A credit account means that you or a member of your collective can pick up food from the co-op when you need it (during opening hours) and you need only deal with one payment and lot of paperwork a year so there isn't a need to do a reimbursement form through ARC each time you get stuff. Better still, all purchases made with a credit account receive a 15% discount on retail prices. There is a $20 annual administration fee for credit accounts as organisations can not become members of the co-op. (Individual members buy a $10 share in the co-op and pay a $15 annual membership fee to receive a 10% on most in shop items).

When you come to the co-op, a co-ordinator can talk you through how to shop, or you can check out instructions on our website:http://thoughtfulfoods.org.au/node/306 . Once you have your list of purchases, the co-ordinator will make a record of them and deduct the total from your account.

Anytime you'd like an update on your account balance, please contact: finance@thoughtfulfoods.org.au

If less than $20 of credit account is used in a semester, it becomes deactivated and there is a $20 fee to reactivate it. If a credit account is not used for two successive semesters or remains deactivated for a semester, the remaining balance is absorbed by the co-op.

Some products we stock that I thought you might be interested in include: • Muesli (organic) • Soy milk (organic) • Honey (organic) • Peanut butter (freshly made at the co-op, non-organic) • Dried fruit and nuts (organic and non-organic) • Fresh fruit (organic) If you have any questions, or would like to create a credit account with us, contact finance@thoughtfulfoods.org.au

I look forward to hearing from you,

Regards,