Summary of the 2016 Pembina Co-op AGM

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May 12, 2016
Summary of the 2016 Pembina Co-op AGM

Pembina Consumers Co-op (2000) Ltd ("Pembina Co-op") held its Annual General Meeting (AGM) in St. Leon at the Recreational Centre on Wednesday, May 11th, 2016 at 7:30pm.   Chaired by the Co-op's President, Marc Grenier, the meeting saw an attendance of over 60 members and included reports from the Board of Directors and the General Manager, a financial report for the 2015 Operations, the elections of Officers and the appointment of auditors.

Reported by Board of Directors members Kevin Cutting and Carla Pouteau, Pembina Co-op achieved a new record in sales of $129.2 million in the 2015 year, an increase of $1.9 million from last-year's record, with a local savings of $3.24 million, up from $2.57 million in the previous year.  Pembina Co-op members will share in this success as they receive a patronage allocation of approximately $5.02 million. Membership in 2015 grants an allocation of 0.5% on food purchases, 2.5% on general merchandise purchases, 2.5% on project purchases, 4.0% on fertilizer purchases, 4.5% on crop input purchases, 4.75% on clear petroleum purchases and 5.25% on dyed petroleum purchases. During the past year, the Board authorized $4.64 million in cash repayments to its members.

Over $5 million was spent on new assets, including two fertilizer warehouses at Swan Lake and Baldur and a seed treating facility in St. Leon.  Construction has begun in Souris for the new Home Centre to open in late 2016 and Federated Co-operatives Limited ("FCL") will begin construction in June of a new corporate bulk fuel plant in Swan Lake to upgrade the current facilities. 

Pembina Co-op continues to support many community organizations as part of its commitment to social responsibility, including the sponsorship of students to attend the Co-op Leadership Camp, a $1000 Scholarship for students entering a trades program for construction, not to mention working with many community groups to promote local events such as bonspiels, tournaments, fairs and community celebrations. Total donations for the past year exceeded $72,000. The Board of Directors recently approved a donation matching initiative up to $2500 for donations made by its members to the Canadian Red Cross in relief aid towards the Fort McMurray and area Wildfires. Members are encouraged to ask their local Pembina Co-op retail for details.

Dale Pouteau, Pembina Co-op’s General Manager, reported on the four commodity lines of petroleum, crop inputs, general merchandise and food, highlighting the opportunities and challenges of each, along with the plans for the coming year. The budget for 2016 projects sales of $135.9 million with a local savings of $2.58 million and a net savings of $7.58 million. There will be a continued investment in facilities with $3.6 million planned capital expenditures in the upcoming year.

Monique Martel, Office Manager, reviewed the audited statement for the 2015 operations. The Co-op’s net savings of $7.91 million included savings of $3.24 million from local operations and a patronage refund from FCL of $4.67 million. The Co-op’s balance sheet remains strong with members' equity and reserves representing 73.4% of the Co-op’s total assets.

Numerous employees were recognized for reaching service milestones during the past twelve months. For 5 years of service: Robert Van Damme (Swan Lake Agro), Warren Lea (Bulk Petroleum), Linda Doherty (Bulk Petroleum), Roy Williment (Manitou Agro), Colin Martel (Swan Lake Agro).  For 10 years of service: Catherine Jordan (Administration), Greg Young (Manitou Agro), Jeff Parsonage (Baldur Agro).  For 15 years of service: Bev Nickles (Mariapolis Agro), Perry Beernaerts (Pilot Mound Building Centre).  For 20 years of service: Tressa Hunter (Manitou Foods), Viola Caillier (St. Leon Building Centre), Yvonne Evans (Administration).  For 35 years of service: Larry Neilson (Souris Building Centre), Henry Talbot (St. Leon Building Centre), Terry Campbell (Minto Agro).  For 45 years of service: Hubert Grenier (St. Leon Building Centre).

Marc Grenier (St. Leon—Manitou), Robert Smith (Souris) and Kevin Cutting (Homewood) were re-elected to the Board of Directors of Pembina Co-op.

The meeting adjourned with President Marc Grenier thanking the management and staff of Pembina Co-op for their dedication and to the members’ continued support in making 2015 another very successful year. “By supporting a business you own, you benefit by sharing in the profits of the company, and your community benefits by maintaining a valuable service”.

The detailed reports have been posted on Pembina Co-op’s website at www.pembinacoop.ca

Pembina Co-op has over 12,000 members with services in Agricultural Supplies & Services, Bulk Petroleum & Propane, Cardlock Fuel Stations, Food Stores, Home & Building Supplies including Ready-to-Move Homes with various retail locations in the communities of Baldur, Crystal City, Cypress River, Glenboro, Homewood, Manitou, Mariapolis, Minto, Notre-Dame-de-Lourdes, Oakbank, Pilot Mound, Saint-Claude, Saint-Léon, Souris and Swan Lake.

 

 

 

 

Pembina Co-op Logos provided below.