The Otter Co-op is celebrating its ninth year of record revenues for patronage reimbursement, with $6.6 million in funds being shared with members from 2018.
This, from total $255.2-million in sales this past year – of fuel, groceries, clothing, housewares, farm supplies and more – will be distributed among members.
“This year, Otter has seen tremendous growth with the opening of our West Kelowna Gas Bar and our first liquor store, Liquor on 248th,” Co-op’s CEO Jack Nicholson said.
“We look forward to the opening of our Mount Lehman Food and Pharmacy store this summer, and look forward to serving all of our guests for the years to come,” Nicholson added.
The returns will be distributed to members in September during the Co-op’s Equity Days celebrations.
The money is said to stay in the community and recipients will be free to spend it as they so choose.
The local co-operative has within the last five years, returned more than $25.9-million to its members, as well as around $750,000 given to community organizations and local initiatives.
The Aldergrove location still remains the company’s flagship with the retail operation, a feed plant and now the state-of-the-art Liquor on 248th.
Its operations in Langley are 97 years old.
The Co-op has been serving the Fraser Valley and Interior since 1922, when it was founded by a group of Fraser Valley farmers.
Today, the Otter Co-op boasts 19 locations from Ladner to the Okanagan and more than 32,000 active members who share in the profits based on how much they spend.
Becoming a member is currently one-time $10 fee.