FAQs

All the members of good standing will have equal rights to vote and make general decisions. Each member of the Coop will have one vote in the General Body meeting irrespective of the shares he/she accumulates in his/her account.

Crescent Coop. will prudently invest based on the underwriting approval criteria. Financial ability, credit worthiness, and character references will play an important role for approval. Length of membership and accumulation of shares may also be factors for approval consideration.

No, and the cost of Crescent Coop’s ownership will vary depending up on the fair market value of the assets owned by the organization. The cost of ownership share is set based on the fair market value of the assets at the time the purchase. When the property value increases, the value of ownership share goes up in case of a decrease, the value of ownership share goes down.

Yes. S/he can sell or transfer his/her shares to any existing member. However, if the transfer transaction creates a negative financial impact for the coop, the transaction may not be approved.

Resident Owner/borrower will be responsible for all maintenance, repairs, and property taxes and insurance. However, s/he will get a pro-rated tax credit.

No. He/she is not allowed to borrow against, or use it as collateral, security guaranty or any other commitment without prior permission or approval of the Coop.

Yes. However, any improvement affecting the selling price or change in the structure must be pre-approved by the Coop.