CALGARY, ALBERTA--(Marketwired - April 11, 2017) - This is the time of year Calgary Co-op members get to experience the biggest benefit of being a member of the co-operative. Beyond Calgary Co-op's year round focus on "inspired team members delivering exceptional customer experiences" the co-operative is pleased to offer their members another reason to celebrate. The 2016 annual member refund on purchases has been dispersed with a massive $31.3 million going right back into members' pockets.
"With 2016 being one of the most challenging years in Alberta's economic history, we are thrilled the efforts of our 3,850 dedicated and inspired team members across Calgary Co-op have delivered a significant member refund of more than $31 million to share with our valued members," says Ken Keelor, CEO of Calgary Co-op. "We recognize the difficult times our members are currently experiencing. We worked all year to increase the efficiency of our team and invest in increasing the value we offer members every day. We are very proud to provide an annual refund that is truly meaningful at this time."
Calgary Co-op promotes one-stop-shopping - members can conveniently fulfill their shopping needs and build their annual refund cheque and shares at food centres, pharmacies, gas bars, car washes, and wine, spirts and beer locations - all located on the same site in most cases. Members also earn rebates when they shop at Calgary Co-op's home health care centres. Business members earn further refunds at Calgary Co-op's commercial cardlocks. The more members shop at Calgary Co-op, the more they can earn on their annual refund.
"We are pleased we can offer a substantial refund to our members every year, and while this year is no exception, it's extra special because of the economic downturn our province is enduring," continues Keelor. "As Calgary Co-op members are also owners of the co-operative, they benefit from everyday shopping convenience, discounts and deals, and have a platform to guide how they feel the business should operate to serve their needs and aspirations."
Of the $31.3 million that was dispersed to members this year, $23.5 million was paid in cash and $7.8 million was paid in share equity or member shares in the co-operative. For 2016, member purchases earned at these rates:
- 2% on purchases made at food centres, convenience stores, home health care centres and wine, spirits and beer locations.
- 2% on the full price of prescriptions at the pharmacy
- 1% on travel purchases
- 6¢ per litre on fuel purchases - which is in addition to the 2¢ per litre grocery coupons Calgary Co-op dispenses instantly at the pump every time a member fuels up at their gas bars.
Since 1957, $838 million has been shared with members through the annual member refund - just one of the many benefits members receive in exchange for their regular shopping and $1 lifetime membership.
The results for Calgary Co-op's financial year ending October 29, 2016, were announced during the Annual General Meeting on Thursday, April 6.
About Calgary Co-op
Owned by members, Calgary Co-op is one of the largest retail co-operatives in North America. Our locations in Calgary, Airdrie, Cochrane, High River, Okotoks and Strathmore include: Food Centres, Pharmacies, Gas Bars, Car Washes, Commercial Cardlocks, Wine Spirits, Beer Locations, and Home Health Care Centres. With over 460,000 members, 3,850 employees, assets of $565 million and annual sales of $1.18 billion, Calgary Co-op was recognized as one of Alberta's Top 70 Employers of 2017, and is committed to delivering an exceptional customer experience through inspired team members.