It鈥檚 a long-standing tradition for co-ops: the member equity day, when the co-op hands over cheques to members based on how much money they spent in the different departments the previous fiscal year, and the overall profits of the co-op./
The 小蓝视频ern Plains Co-op held its member equity days at different locations in the southeast in the final week of June. Oxbow was on June 25, followed by Estevan on June 26 and 27, respectively. Alameda was the last one June 28.
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Approximately 4,500 cheques were produced this year, according to co-op human resources manager Carol McKay. It reflects how busy the co-op has been.
鈥淭he co-op did have a good percentage paid back in equity dollars,鈥� said McKay.
The co-op paid out more than $2.51 million in member allocations for the 2018-19 fiscal year, which ended on Jan. 31. In their gas bar, people received six cents per litre, or 5 1/2 per cent of their purchases. Farm diesel is seven cent paid back, or 5 1/2 per cent, oil purchases are a 10 per cent pay back, food is a three per cent return and everything else is a two per cent return.
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鈥淏ased on those dollars, 25 per cent of the current allocation got paid back in cash,鈥� said McKay.
Fundraising barbecues were held in conjunction with each member equity day.
鈥淓ach location picked a charity that they wanted to 鈥� give the money to,鈥� said McKay. 鈥淚t was by donation. Members picked up a burger or a hot dog, and the proceeds went to the charity, and the member could also pick up their equity cheques from the co-op for their 2018 purchases.鈥�
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The barbecues in Carlyle and Alameda supported ball teams in the area, while Oxbow鈥檚 beneficiary was the Expressway Family Centre. Proceeds from the Estevan barbecue went to the new 小蓝视频 East Saskatchewan Search and Rescue chapter.
Member allocations are part of 小蓝视频 a co-op member. Based on purchases, which they collect using their co-op number, the purchases are tabulated at the end of the financial year in late January.
鈥淭he co-op then does their financial statement, and based on the income that the co-op has made for the year, part of that income is paid back to the number,鈥� said McKay.
If the cheques weren鈥檛 picked up, people can drop by the admin department at the co-op鈥檚 Estevan grocery store, or the cheques will be mailed out at the end of August.
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