Inside the store, ca. 1948
Photo: Unknown.
The Foundation
Østerbros Husholdningsforening was founded on February 8, 1868 as one of the first Danish co-operatives. One of its intended purposes was to provide inexpensive as well as better goods for low-income workers in Brumleby to be sold in their own store.
Members and Dividend Stamps
In order to join, a member was expected to buy a share. The co-operative would buy wholesale goods and sell the products at retail prices. Part of the profit was distributed among the members as dividend. Another part financed enlightenment and non-profit activities. Shareholders would receive their share of the profit by way of a bonus based on the member’s purchases. Board member W.S.W. Faber expressed how shareholders were in a sense forced to save up: ‘The more he buys, the more he spends, the richer he becomes’.
