2017 Annual General Meeting - Pembina Co-op

May 11, 2017
2017 Annual General Meeting - Pembina Co-op

Pembina Co-op held its annual meeting at St. Leon on Wednesday, May 10th. The meeting had over 45 members in attendance and was chaired by the Co-op’s President, Marc Grenier.

Co-op Directors, Carla Pouteau and Kevin Cutting, reported that Pembina Co-op achieved another strong year with sales of $127.0 million with a net savings of $6.63 million. Co-op members will share in this success as they receive a patronage allocation of approximately $4.04 million. Members will receive an allocation of 1% on general merchandise purchases, 1% on project purchases, 3% on fertilizer purchases, 4% on crop input purchases, 4.75% on clear petroleum purchases and 5.25% on dyed petroleum purchases. During the past year, the board authorized $4.23 million in cash repayments to its members.

During 2016, the Co-op spent $4.45 million on new assets, which included the completion of the Baldur fertilizer shed and a significant portion of the Souris Building Centre that opened on April 7th. Lumber storage systems were added at Pilot Mound and Oakbank. The Co-op replaced numerous vehicles including a fuel truck and Terragator fertilizer applicator.

The Co-op will invest $3.1 million during the coming year in capital projects. The major projects include construction of a fertilizer shed at Manitou and upgrading the Swan Lake cardlock system to access fuel off of the new FCL corporate bulk plant that will be constructed over the summer months. The Co-op plans to replace seven older vehicles along with numerous smaller capital projects.

Pembina Co-op General Manager, Dale Pouteau, reported on the business plan for the coming year. Board and management have adopted the “Corporate Performance Plan” model for developing the Co-op’s long term goals and measuring its success. Results are measured against a balanced scorecard covering the Co-op’s five pillars of corporate performance; people, market, operations, financial and sustainability. The goals and strategies for each of the pillars were reviewed.

Curtis Lehouillier, Finance – Operations Manager, reviewed the audited statement for the 2016 operations. The Co-op’s net savings of $6.63 million included savings of $2.27 million from local operations and a patronage refund from Federated Co-operatives Limited of $4.36 million. The Co-op’s balance sheet remains strong with member’s equity and reserves representing 75% of the Co-op’s total assets.

Numerous employees were recognized for reaching service milestones during the past twelve months. Kyle Mikolasek, Susan Schneider, Stephanie Nadin, Adam Van Damme, Brian Baete, Sheldon Klassen, Cameron Claeys and Brad Parsonage completed five years of service. Ryan Robidoux, Derek Van De Kerckhove and Lisa Holland completed ten years of service with the Co-op. Ray Brunel received his fifteen-year service award. Mike Dobson, Ken Henderson, Monique Martel, Michelle Souque-Rey and Luc Mangin completed twenty years of service. Garry Hacault was recognized for completing thirty-five years.

Bertrand De Rocquigny (Notre Dame – St Claude) and Ernest Fraser (Minto), were re-elected as Directors of Pembina Co-op. Carla Pouteau was recognized for twelve years of service on the board and thanked for her service as she announced her intention to not seek re-election. Daniel Van De Velde was elected to the board to represent the Mariapolis – Baldur trading areas of Pembina Co-op. Other directors who were recognized for their service on the board included Daryl Devos for nine years of service, Bertrand De Rocquigny for fifteen years of service and Ernest Fraser for completing twenty-four years of service.

Jocelyn Van Koughnet, FCL District Director, reported on FCL’s highlights over the past year. While the Western Canadian economy has been impacted by declining activity in the energy sector, FCL and retail co-ops were still able to achieve success and deliver benefits to their members. Jocelyn presented Marc Grenier with a plaque recognizing 75 years of Pembina Co-op serving its members.

Marc Grenier ended the meeting by thanking the Co-op staff for their dedication and the members for their continued support in making 2016 another very successful year for Pembina Co-op.

Pembina Co-op is owned by over 11,000 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