NCB and Food Co-op 500 Celebrate Grand Opening
of Lost River Community Co-op in Paoli, Indiana
Program Assisted New Food Cooperative

Washington, D.C. (May 27, 2008) — NCB, known for providing creative financial solutions to cooperatives nationwide, was proud to celebrate the official grand opening of the Lost River Community Co-op, a start-up retail grocery cooperative in Paoli, Indiana.  The food co-op received a $9,000 seed fund grant and extensive technical assistance through Food Co-op 500, a program created to provide funding and technical assistance to groups launching new retail grocery cooperatives. The Food Co-op 500 is a partnership between NCB, NCB Capital Impact, National Cooperative Grocers Association (NCGA), and Cooperative Development Services (CDS).  Seed fund grants were made possible by NCB and the Blooming Prairie Foundation.

“Lost River Community Co-op was one of the first, new cooperatives to receive funding and technical assistance from the Food Co-op 500, and the official opening of the store is a clear indicator of the program’s success,” stated Charles E. Snyder, President and CEO of NCB. “The cooperative is thriving and the community is recognizing the store as a community asset and local economic engine that recycles dollars among the neighbors as opposed to other businesses that take profits away from the residents.”


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