Highlights of the 2018 AGM

May 10, 2018
Highlights of the 2018 AGM

Pembina Co-op held its annual meeting at St. Leon on May 9th. The meeting had 45 members in attendance and was chaired by Co-op President, Marc Grenier.

Co-op Directors, Kevin Cutting and Ernest Fraser, reported that Pembina Co-op achieved another strong year with sales of $133.6 million with a net savings of $7.57 million. Co-op members will share in this success as they receive a patronage allocation of approximately $4.42 million. Members will receive an allocation of 1% on general merchandise purchases, 1% on project purchases, 3.75% on fertilizer purchases, 3.75% on crop input purchases, 4.25% on clear petroleum purchases and 5% on dyed petroleum purchases. During the past year, the board authorized $3.99 million in cash repayments to its members.

During 2017, the Co-op spent $5.27 million on new assets, which included the completion Souris Building Centre, the Manitou fertilizer shed and the Notre Dame soybean facility. The Board made the difficult decision to close the Manitou food store as losses continued to escalate. The Board extended its gratitude to the Manitou food store staff as they remained very professional during the difficult closing process.

The Co-op will invest $1.2 million during the coming year in capital projects. The major project is the renovation of the Swan Lake cardlock system to access fuel off of the FCL corporate bulk plant that was completed in April. The Co-op will also be replacing numerous vehicles to maintain the fleet.

Pembina Co-op General Manager, Dale Pouteau, reported on the business plan for the coming year. The Co-op’s business plan is broken down into five pillars; people, market, operations, financial and sustainability. The goals and strategies for each of the pillars were reviewed. The highlights included the opportunities for sales growth, the need to focus on reserves to finance future growth rather than share capital, and the creation of a community support program.

Curtis Lehouillier, Finance – Operations Manager, reviewed the audited statement for the 2017 operations. The Co-op’s balance sheet remains strong with member’s equity and reserves representing 69% ($62.1 million) of the Co-op’s total assets of $92.6 million. The total equity is almost split evenly between members share capital and reserves.

Numerous employees were recognized for reaching service milestones during the past twelve months. Jacy de Koning, Chris Hagyard, Gilles Vuignier, Mitchell Bohrn, Alanna Bellow-Macdonald and Vance Desantis completed five years of service. Grant Lusignan, Brad Earle and Edward De Smet completed ten years of service with the Co-op. Grant McLean and Bruce Sholdice received their fifteen-year service awards. Susan Pryor, Curtis Lehouillier, Carole Tremorin, Lewis Hacault, Melissa Leverault, Barry Nordal and Reg Almey completed twenty years of service. Conrad Durand and Lorraine Cousin were recognized for completing thirty years and Marcel Lesage for this fortieth anniversary.

Barry Gosnell (Pilot Mound-Crystal City), Ken Harpelle (Cypress River-Glenboro) and Daryl Devos (Swan Lake) were re-elected as Directors of Pembina Co-op.

Jocelyn Van Koughnet, FCL District Director, reported on FCL’s highlights over the past year.

Marc Grenier ended the meeting by thanking the Co-op staff for their dedication and the members for their continued support in making 2017 another very successful year for Pembina Co-op.

Pembina Co-op is owned by over 12,000 members in Southern Manitoba. Members are served through retail facilities located in Baldur, Crystal City, Cypress River, Glenboro, Homewood, Manitou, Mariapolis, Minto, Notre Dame, Oakbank, Pilot Mound, St. Claude, St. Leon, Souris and Swan Lake

N.B.: You will also find the General Manager's Report and the Board of Directors' Report as separate articles on this website.  Please find the official 2017 Annual Report below.