Red River Co-op is pleased to announce a $24.6 million equity return to its members for the 2021 fiscal year. The Board of Directors approved an allocation to its membership of six cents per litre on fuel purchased, tw per cent on food purchased and four per cent on the full price of pharmacy prescriptions.
The local co-operative has over 316,000 members and are sending out cheques totaling $23.8 million in cash to its membership in Winnipeg and surrounding communities. The remainder of equity earned remains in members’ equity accounts.
“2021 was another year of uncertainty and despite the challenges faced, Red River Co-op achieved solid operating results,” said Doug Wiebe, CEO of Red River Co-op. “We thank all of our members for choosing Red River Co-op for their fuel, food and pharmacy needs in 2021 and we will work to earn their support in 2022.”
It’s been a year of growth for the co-operative. To better serve their members and customers, in 2021 Red River Co-op introduced new food stores to the St. Norbert and Seasons communities in Winnipeg, built a standalone pharmacy in Niverville, rebuilt the gas bar in Selkirk and began construction on a gas bar on Lagimodiere. Renovations to the food stores in Gimli and Lorette were also completed in 2021.
Giving back to communities is one of the pillars that makes Red River Co-op a different kind of business. Major donations such as $41,634 to Leftovers food rescue with proceeds from Fuel Good Day were given in 2021, as well as $25,000 to Oak Hammock Marsh to make urban agriculture improvements from the Co-op Community Spaces grant program. This past year $215,346 was given to over 70 non-profits and charities doing great work in the communities Red River Co-op operates, through their Community Investment program.
