Becoming an IDI Shareholder - 7 Easy Steps.
- Complete the IDI Shareholder application, and forward to the IDI office as indicated on the front of the application form. Contact IDI if you have any questions regarding the information requested by the application.
- Forward your most recent annual financial statements to the IDI Auditor, as indicated on the front page of the application form. Note that no IDI personnel or shareholders have access to your financial statements. Shareholders’ financial statements are scored by the IDI Auditor on an annual basis to monitor the overall financial health of the co-operative’s ownership. A copy of the scoring criteria used is enclosed under separate cover in this package.
- IDI Auditor advises the IDI President of passing or failing score on the submitted financial statements, and the IDI President passes this information along to you.
- Assuming a passing score, the IDI President then issues a formal Prospective Shareholder notice to the IDI Board of Directors, and any existing IDI shareholders that conduct business in your trading area. Existing shareholders have a 15-day time period to express any concerns with your application to become a shareholder in IDI.
- As soon as possible after the expiration of the 15-day time period, the IDI Board convenes to vote on your application to become a shareholder in IDI.
- Assuming acceptance by the IDI Board, the IDI President advises you of your acceptance, and makes arrangements to invoice the applicable fees.
- Once your payments have been received by the IDI office, you officially become an IDI shareholder! You will be contacted by the IDI President to receive your IDI website passwords, and to book your IDI Orientation session with the IDI President.