Like other organizations, the pandemic situation meant that Discovery Co-op had to hold its 2020 Annual General Meeting by video conferencing on Aug. 18.
In their annual report, board president Bryan Clair acknowledged the challenging conditions for Discovery Co-op to operate.
“This past year has been challenging for the province, the country and the world due to economic and political conditions affecting many sectors. These factors have certainly affected Discovery Co-op,” Clair stated.
“The current pandemic has added to the stress on the economy and to the members we serve. However, the strategies established by the board ensures Discovery is nimble and adaptable, capable of reacting to both the challenges and opportunities that may arise to ensure the financial well-being and long-term sustainability of your co-operative. Competition continues to be strong in our own general trading area and our success continues to be due to our dedicated team and our strong management group– a huge thank you to everyone.”
Among the highlights of their financial results:
Discovery Co-op had over $129 million in sales and $4.3 million net savings.
During 2019 there was $2,448,601 in equity paid back to members who had moved, reached age 70, reached their equity cap of $17,250, and estates.
During the year they welcomed 954 new members.
$220,000 was donated to clubs and activities within their trading area in 2019.
In his statement in the annual report, General Manager Mike Nord pointed to some of the Co-op’s capital projects. Last year saw the opening of the new food store in Battleford and upgrade of the carwash at Territorial Place Mall. Capital projects in 2020 include an upgraded Territorial Gas Bar featuring 10 lanes of state-of-the-art fuel pumps and an expanded confectionary store and bathrooms.
“This will provide much needed services and products to that community and we are looking forward to growing with that community,” Nord states.
