Otter Co-op has been based at 3650 248th Street in Aldergrove for 96 years, and over the years has grown to 18 locations in the province.

$5.9 million in dividends for Otter Co-op members

Otter Co-op to return $5.9 million in cash and equity to its members/owners

Otter Co-op’s board of directors have approved a patronage reimbursement of over $5.9 million to their member/owners, based on 2017 purchases.

This year’s return comes on the heels of eight record years in a row of sales, with 2017 sales totaling over $223.6 million.

This money stays in the community and recipients are free to spend the cash as they choose.

As a co-operative, member/owners receive patronage refunds on their yearly purchases based on Otter Co-op’s performance and profits; all that is involved in becoming a member is a one-time purchase of a $10 membership share.

Otter Co-op’s CEO Jack Nicholson said, “As a local business, we face stiff competition from “Big Box” stores and the growing digital marketplace daily. Seeing continued growth despite this, I could not be prouder of the success Otter Co-op has seen over the past year.

“Our profits stay in the community and continue to stimulate the local economy here in British Columbia. This success is due to the strong commitment of the Otter Co-op team, which includes both employees and our guests supporting us every day.”

This patronage return will be distributed in September, with more details to be announced shortly.

Otter Co-op is a retail co-operative that has proudly served the Lower Mainland for 96 years, from its base on 248th Street in Aldergrove.

Today, Otter Co-op serves more than 50,000 members — and many more non-member customers — in the lower mainland, where it operates 15 locations, and another three sites in the Okanagan.

In the last five years, Otter Co-op has returned more than $25 million to member/owners in cash and equity rebates, while contributing over $750,000 to non-profit community organizations and initiatives.

“Otter Co-op is proud to be a strong local investor and community builder in the areas they live, work and play in,” said Nicholson.

Just Posted

Langley’s Wyatt twins make Pan Am team

Wyatts back home after completing freshman year at University of Memphis

VIDEO: Beer lovers tip a few for Langley Rotary Clubs

17th Annual Tip ‘n Taste at Cascades Casino serves up craft suds for local charities

Former Langley school moved to new site for condo project

The old Murrayville Elementary’s core was shifted on its site

VIDEO: Langley couple’s home goes from worst to first

Penny and Leif Sogaard get home makeover on HGTV reality show

Cutting a path to a brighter future in Langley

Syrian refugee takes ownership of Ol’ Crow Barbershop in McBurney Plaza

VIDEO: First Nations, developer call for return and protection of sacred B.C. burial site

Dozens of First Nations leaders gather on grassy plateau to call on action by provincial government

Teen stabbed after end-of-night limo dispute in downtown Vancouver

A young man, 19, is in serious condition following a dispute between two groups

B.C. bus driver loses case to get job back after texting while driving full bus

An arbitator ruled that Tim Wesman’s phone usage was a “a reckless disregard for public safety”

Revamped B.C. Lions set to battle veteran Winnipeg Blue Bombers

The Lions’ first test of the season will be a big one

No business case for Trans Mountain expansion, says former environment minister

Cabinet is expected to announce its decision on the expansion of the Alberta-to-B.C. pipeline by Tuesday

LETTER: British Columbia’s forest industry crisis being made worse

Andrew Wilkinson warns of regulatory overload by John Horgan’s NDP

Convicted B.C. child abductor Randall Hopley back in custody 6 months after release

Correctional Services Canada could not provide further details due to privacy concerns

Alleged driver of semi-truck in fatal Burnaby hit-and-run identified

No charges have been laid and police say the driver is cooperating with the investigation

Bears have killed 17 people in B.C. since 1986

Number of bear complaints and bears killed rose sharply during same period

Most Read