World News: 14:44 GMT Thursday 6th December 2018. [Sunderland Co-operative Inc. via Globe Newswire via SPi World News]
SUNDERLAND, Ontario, Dec. 06, 2018 (GLOBE NEWSWIRE) -- Farmer-owners of Sunderland Co-operative learned yesterday they would receive patronage refunds again this year during the co-ops 68 Annual General Meeting held at the Fenelon Township Community Centre in Cambray.
Urs Kressibucher, Sunderland Co-operative president announced that the co-op will pay out $320,000 in patronage to its farmer-members. “The co-op’s goal has always been to supply quality goods and services, using profits generated, to update services, maintain a strong balance sheet and return the surplus to the member owners,” says Kressibucher.
“This is not new a new concept for Sunderland Co-op,” says Jake Vancuren, Sunderland Co-operative general manager. “Delivering a profitable result and providing patronage to our members has been a consistent trend for the co-op.” From its first year in business in 1951 and for the next 68 years, the co-op has generated a positive bottom-line and shared its profits with its members each and every year.
The co-op not only saw growth in its financial reporting this year, but also in expansion. The Sunderland FS Store underwent a complete renovation with improvements in appearance, merchandising and the overall customer experience. The co-op also purchased an additional 85 acres of land at its Oakwood location for further expansion and a new Rogator for enhanced custom-application services for its members.
A new state-of-the art accounting system was installed providing added efficiencies and ease for customers to review their account activity on-line. Farmers can also customize their operational activity through an on-line tool called
Vancuren reported annual sales of just under $60 million with an income before patronage and taxes of more than $1.2 million.
“I have been in this role for more than one year now, but it didn’t take me long to see the strength and value our co-op provides to its members and also to the community it supports,” says Vancuren. During the annual meeting, Sunderland Co-op and GROWMARK recognized Maggie-Jo Hickson as this year’s provincial essay contest winner (for high-school students who are members of 4-H) and both contributed monetary awards to Maggie-Jo and to the Kawartha Lakes Haliburton 4-H Association.
In closing, Kressibucher expressed his gratitude and thanks. “Let’s enjoy our success,” says Kressibucher. “It comes to us because of our loyal members that support their co-op, a strong board of directors who set policy and a dedicated staff that cares.” After the formal agenda concluded, attendees enjoyed a meal together and some social time.
The board elected Urs Kressibucher from Cannington as their president, Paul Mann from Peterborough as vice president, Warren Jibb from Sunderland as secretary and returning director Guy Master from Oakwood. Newly elected to the board this year are Paul Brown from Woodville and John Devos of Oakwood.
Sunderland Co-operative Inc. is owned by 1,800 farmers and has a successful track record of serving its members and rural residents for almost seven decades in the areas of Durham/York Regions and the county of Victoria. It is a full service agricultural co-operative offering with a complete complement of products and services in agronomy, feed, energy, grain marketing, and consumer needs. Sunderland Co-operative is a member-owner of GROWMARK, Inc. and markets its products and services under the FS brand.
Globe Newswire: 14:44 GMT Thursday 6th December 2018
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