Local News

The New Co-op Store Had a Successful First Full Year.

General Manager Tom Therien told the 75th annual meeting of the North of 53 Co-op Wednesday night 2019 was another banner year sales wise for the Co-op. He noted for the first time in their history sales exceeded 31 million dollars including 22.6 million in food sales in the first full year for their new food store.   He told those attending the Co-op will experience a few lean years as they transition from an old aging to a new modern food store reporting 2019 resulted in a local loss of 1.2 million dollars primarily as a result of high depreciation costs and interest on the outstanding loan needed.  Therien noted as a result of their local loss and smaller than expected patronage refund from Federated Cooperatives Limited due to drastically reduced petroleum sales they were left with a net savings after tax of just over 177 thousand dollars which they elected to allocate once again to their reserves only.

             

Board President Dave Kendall reported this year there were openings for two positions for three year terms on the Board which were filled by acclamation by the incumbents Erhart Dzuibak and Del Ward in the spring when the annual meeting is usually held.

 

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