LUCKNOW, ONTARIO--(Marketwired - Feb. 2, 2017) - Members of Lucknow District Co-operative recently learned they will share in $225,000 of patronage rebates.
The co-operative's board of directors and management presented a profitable 2016 financial statement to members at its 72nd annual banquet on Jan. 12 at the Lucknow Community Centre. General Manager Allan Scott reported strong unit sales in petroleum and crop products.
The announcement of this year's patronage brings the total patronage returned to members to more than $2 million in the past ten years. "Our continuing success is due to the strong support of our membership," says Scott.
Along with providing patronage over the years, the co-op has invested in new and efficient technologies. In 2014, the co-op added its Layco declining-weight blend fertilizer facility that offers improvements for farmers in everything from more storage capacity, faster loading and receiving times, and superior customized blending abilities.
Prior to this, Lucknow Co-op purchased 40 more acres of land to allow for expansion and growth, and at the same time, transitioned to a fully integrated accounting system that tracks everything in one system such as field mapping, agronomic planning and custom blending records.
"It is a good blend of both worlds," says Lucknow Co-operative president David Gibson. "Providing good patronage returns is important to our members, but also keeping an eye on continued improvements and efficiencies to better meet the needs of our customers, is equally valuable," says Gibson.
Re-elected to the board for their second three-year terms are: Martyn VanMeeteren of Teeswater, Fred Durnin of Goderich and Andy Phillips of Dungannon. The president is David Gibson of Ripley and the vice president is Warren Andrew of Lucknow; along with directors Glen Gibson and Brad Gilchrist of Lucknow, Murray Curran of Dungannon and James Dickie of Wingham make up the full board for 2017.
Lucknow District Co-operative Inc. was established in 1944. The co-operative provides its members and customers of Huron and Bruce Counties with livestock feed, agronomy products and services, consumer goods, including hardware and clothing, and petroleum products and services. It also offers customers AIR MILES® reward miles on qualifying purchases. Lucknow Co-op is a shareholder-owner of GROWMARK, Inc. and markets products and services under the FS banner.