Is it possible for some one who is not a grape grower to invest in National Grape or Welchs?
No, not directly. You may, however, purchase Allocation Credits from a National Grape patron as more fully described below. National Grape is a non-stock agricultural cooperative. As a cooperative, National Grape operates on a cost basis. The active patrons of National Grape furnish capital to the organization through the retention of a portion of their earnings each year. Currently, at least 80% of the annual retention is in the form of Allocation Credits. Allocation Credits are instruments issued in annual series which mature 20 years following issuance. Allocation Credits are non-interest bearing; non-dividend bearing and non-voting. It has been National Grape’s practice to call each series for redemption, at a price equal to 100% of its aggregate principal amount, approximately six years after the date of issue. The decision to continue this practice is reviewed annually by National Grape’s Board of Directors. A market for the Allocation Credits is made by the following brokers and
