Equal Exchange Story
The Team
Nicole Vitello
Vice President and Capital Coordinator
After studying International Development at American University, Nicole founded her own organic farm business, Manic Organic, which she operated successfully for 10 years in her home state of Rhode Island.
In 2008, Nicole joined Equal Exchange as a sales rep inspired by the economic model of trading directly with small farmers internationally. In 2011, Nicole became president of Oke USA, the fresh produce subsidiary of Equal, and grew the $3M business to trading $16M of organic fair trade bananas from Ecuador and Peru and avocados from Mexico.
Nicole rejoined the Equal Exchange leadership team in 2023 as a Vice President and is proud to continue promoting the connection between small farmers in Latin America and consumers in the United States through the Equal Exchange Capital Model.
Rink Dickinson
Founder and President
Since our founding in 1986 Rink has played, at one time or another, almost every major role in helping Equal Exchange to become a model of a democratically controlled, socially responsible business — Co-founder, Board Chair, Director of Sales, and since 1999 Executive Director.
Rink was deeply influenced by the two principle areas where he grew up: inner-city Detroit and the “Springsteen” region of New Jersey. He first gained a passion for organic foods when working at the New England Food Co-ops in the early 1980’s. There he met Michael Rozyne and Jonathan Rosenthal, with whom he co-founded Equal Exchange in 1986. Their goal was to create an unprecedented, progressive organization that balanced the interests of farmers, customers, shareholders and workers. They had no models to follow, but did decide to forego the privileges that normally accrue to entrepreneurs. Instead they structured Equal Exchange as a worker-owned cooperative, where every employee would also be an equal owner, each with one vote and each eligible to serve on the company’s board.
Rink has also served on the board of another natural foods worker co-op, Once Again Nut Butters (New York). He holds a BA from SUNY-Binghamton, and a MA in Urban Planning from M.I.T. Rink lives in Providence, Rhode Island.
Added 5 months ago
Just made an investment for my wife and myself, and wondering about how to make a gift investment for our adult children as well. I did not see an obvious pathway on the investment forms to accomplish this. How can we go about doing this in the next few days? Thanks.
Added 5 months ago
Hi Gare. This is Nicole, Capital Coordinator at Equal Exchange. I apologize for the delayed response. One tactic would be for a legal investment vehicle like a family trust to make the investment. Others have accomplished something similar to your intent by putting the investment in their children's name but using their own email and payment method. I believe that is allowed
Added 6 months ago
What are the repayment terms of the loan (if it is to be repayed)?
Added 6 months ago
Hi Becky. This is Nicole, the capital coordinator at Equal Exchange. Below is the language in the promissory note about repayment. Please let me know if you have any other questions. Thank you!
The principal amount hereof and all unpaid interest accrued through the Maturity Date shall be payable within thirty (30) days after the Maturity Date. No interest shall accrue after the Maturity Date. The Maturity Date is December 31, 2027.
Added 7 months ago
Hi,
What is the maximum investment, please? Thanks.
Added 7 months ago
HI Suzanne. This is Nicole, capital coordinator at Equal Exchange. Thank you for your question. Under Investment Crowdfunding rules, anyone over the age of 18 can invest at least $2,200 every 12 months. If you would like to invest more than $2,200 in any given year, you will need to calculate the maximum amount based on your income and net worth. Here is a link to a summary of how to calculate your annual maximum investment amount as well as some scenarios. Note that the Investment limits do not apply to accredited investors. Please let me know if you still have questions. I.am happy to help!
https://blog.crowdfundmainstreet.com/how-much-can-i-invest/
Added 7 months ago
I am elderly, a non-tecno, and want to loan money to you. I can't seem to find the place to do that. Where do I go from here? Instead of using my credit card, can I use my PayPal account? That is already connected to my bank and I trust it.
Added 7 months ago
Hi Natalie. This is Nicole, the capital coordinator at Equal Exchange. You are not alone in your questions! Others have found this easy to watch video helpful as it outlines the investment process and the steps clearly:. https://crowdfundmainstreet.com/campaigns/x5el1q2g#
The investment can be made by credit card or electronic bank transfer but not Pay Pal. The bank to bank (ACH) funding method is the same information as writing a paper check and includes routing number and account number. This form of transfer is bank level encryption.
Please let me know if you still have trouble by commenting on this site and I will do all I can to help. Your questions are likely the same ones others are having so thank you again for sharing!
Added 7 months ago
Hi Andrew. This is Nicole. I am the Capital Coordinator at Equal Exchange. Thank you for your question. You have the terms right at 3%. An integral part of our model is pre-financing green coffee with producer coops in advance of the harvest which is generally annually so we pay a portion up front and a portion at harvest. Raising this capital at 3% enables us to extend funds to them vs them borrowing under onerous bank credit terms in county or their members facing temptation from middlemen/coyotes who offer cash for low prices. Our goal is stability with the small farmer groups with which we partner and part of that is capital. We understand this investment model does not work for everyone and that there are many choices out there for investors.so I appreciate you helping us to clarify our terms and business practices.
Added 5 months ago
Hi Nicole! I wanted to follow up on this thread to clarify the details of the expected return: Is the interest 3% Annual Percentage Rate (APR) or 3% at maturity?
Added 7 months ago
So am I right in understanding that this debt only pays 3% annually? I really enjoy Equal Exchange and would love to support your mission but that's a lower APY than I get from my checking account. Am I misunderstanding the terms?