Letter of Intent Information

September 21, 2017

Dear Member:
 
The Boards of Directors for First Cooperative Association and Pro Cooperative have unanimously voted to sign a Letter of Intent (LOI), a non-binding agreement, that enables the cooperatives to study the benefits, opportunities and risks of a potential unification.
 
The study phase, known as due diligence, will begin shortly and is expected to wrap up in December. Upon completion, the Board members will review the findings and determine if a unification would be beneficial to members of both cooperatives.
 
Following the due diligence phase, we will have more details to share with you. 
 
If you have questions in the meantime, please reach out to your Board members.
 
Thank you for your business and support of your cooperative.
 
Sincerely,
                                                                                                    
 
Don McClain
Board President
Pro Cooperative