Valleyview Co-op reports to members

Valleyview Co-op continues to pay dividends

General Manager of Valleyview Consumers Co-op Ltd. Dave Wowk noted in his report, that in 2015, the Co-op “was faced with a downturn in the local economic market, with a decline in the oil sector.” While this had an effect on operations, he said, “It is our co-operative model and our diversity that will remain our strength and carry us through...”

While Valleyview Consumers Co-op built a brand new Gas Bar and C-Store at Melita and a new large food store at Virden last year, never-the-less, the Board of Directors voted to return nearly $1.4 million in cash back to its members this year.

The membership returns for groceries in 2015 are at 1.5 percent, or half what they were two years ago in 2013, and gasoline returns are 1.25 percent lower than 2013. However the price of gas was low at some points over the year and fewer litres were sold.

A summarized balance sheet (January 2016), shows the Coop’s assets have grown by nearly $2 million and total liability is also up by about $1 million.

For the growth in retail outlets, Wowk explained there was $3.8 million that could not be paid out of operating, and that amount was borrowed.

Seventy-eight members at the supper and business meeting had an opportunity to cast votes to elect four board of directors. Incumbents, Kent Mathieson (has served as president), Robert Grieve and Rick Lee were returned to the board. Dennis Black from Oak Lake became a new board member. With eight retail outlets in operation, Wowk reported Memberships are up by about 600.

Valleyview employs 175 staff, an increase of 11 percent in 2015. Two new staff roles are Human Resources Manager and a Credit Manager position.

The corporation provided over $100,000 of charity to groups, organizations and events in 2015 and staff volunteered for a number of community events and projects.

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