Calgary Co-op Member-Owners receive $31 million in 2017 member refund
CALGARY, April 5, 2018 /CNW/ - In the midst of a recovering local economy, Calgary Co-op members take pause to celebrate one of the biggest benefits of being a Member-Owner – the annual member refund.
"We are very pleased to return a significant member refund of $31 million to our valued Member-Owners", said Ken Keelor, Chief Executive Officer, Calgary Co-op.
Despite the challenging economic climate in recent years, Calgary Co-op has stayed true to their roots by supporting the local economy – maximizing their purchases from local producers, employing 3,850 people from Calgary and surrounding areas, and as the regular shopping destination for over 440,000 Members-Owners. "Our inspired team members are the secret to our success," said Keelor. "Our team members go out of their way to deliver 'Awesome' customer experiences - every customer, every day, and every line of business."
Supporting local also means supporting local community causes, and as part of the member refund this year when Members-Owners used their member refund cheque to pay for their purchase at a Calgary Co-op food centre, Calgary Co-op donated $5 to the Calgary Women's Emergency Shelter. Additional donations made by Member-Owners were also matched.
"Caring service excellence, quality products, and proud local support – that is the value our team adds to make the price our Member-Owners pay worthwhile, not just affordable," said Keelor.
This year's annual member refund of $31 million is based on the profits earned by Calgary Co-op in 2017 – $7.8 million in shares and $23.1 million in cash. Membership at Calgary Co-op costs $1, lasts a lifetime, and is open to the public. The annual member refund is calculated as: 2.0% on purchases at food centres, convenience stores, home health care centres and wine, spirits and beer locations; 2.0% on the full price of prescriptions; and 6.0 ¢ per litre on petroleum purchases. This is in addition to the 2¢ per litre grocery coupons instantly received each time a Member-Owner fuels up at a Calgary Co-op gas bar.
The results for Calgary Co-op's financial year ending October 28, 2017 are announced during their Annual Meeting April 5th, 7 p.m. at the Carriage House Inn, 9030 Macleod Trail South, Calgary. At the meeting Member-Owners and visitors learn more about Calgary Co-op's direction for the future, hear the results of the Director Election, and vote on resolutions put forth by both membership and Board. "To become a Member-Owner at Calgary Co-op you only have to invest $1," said Keelor. "And as a Member-Owner, you have the opportunity to have a voice in how our business operates."
About Calgary Co-op
Owned by members, Calgary Co-op is one of the largest retail co-operatives in North America. Our locations in Calgary, Airdrie, Cochrane, High River, Okotoks and Strathmore include: food centres, pharmacies, gas bars, car washes, commercial cardlocks, home health care centres, and wine, spirits and beer locations. With over 440,000 members, 3,850 employees, assets of $572 million and annual sales of $1.2 billion, Calgary Co-op is recognized as one of Alberta's Top 70 Employers of 2018, and is committed to delivering an exceptional customer experience through inspired team members.
SOURCE Calgary Co-Operative Association Limited (Calgary Co-op)
Robyn Soper, Senior Communications and Events Coordinator, Calgary Co-operative Association Limited, Office: 403.219.6025 ext. 6912, [email protected]
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