To become a member of any co-op, you must purchase a share. Shares stand as the co-op's working capital and the share purchase gives the member(s) a vote in general meetings. The share purchase at Twin Oaks Co-op is $2500 which provides membership for two adults 19 or older living in the unit. When a member leaves the co-op the share purchase will be returned unless the unit has been damaged or the member owes money to the co-op, in which case the share is used to cover repair costs or settle the debt. Non-profit housing co-ops do not return share purchases with interest. Twin Oaks offers an installment plan for the share purchase for incoming members if required.
Please Note: CHF BC administers two programs to help people in special need with no-interest loans to afford the initial share purchase once they've been accepted to join a housing co-op: the Disability Trust and the Domestic Violence Relief Fund. For more information please contact CHF BC directly.