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March 09, 2016

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Wednesday, March 9, 2016

NEWS & VIEWS MARCH 2016 | FOOD FEED PHARMACY HARDWARE FASHIONS GAS BARS PETROLEUM | ottercoop.com

Another Record Year for Otter Co-op! EVERYONE WELCOME – NO MEMBERSHIP REQUIRED

SEEKING DIRECTORS FOR A 3 YEAR TERM ARE YOU INTERESTED IN BEING PART OF A FAST GROWING OPERATION? If Yes, Otter Co-op Board of Directors is Looking for you. Sense of Community, Business Acumen in helping direct a $200 million operation. If you are interested in running for the Otter Co-op Board of Directors you must have your Director Qualification Declaration signed at least twenty days prior to the Annual Meeting to be held at the end of May (Date to be determined please watch for ads in local papers, on our website or call the number listed below). Applications are available on our website www.ottercoop.com

HOW DOES IT WORK? Otter Co-op’s Board is made up of nine Directors with staggered three year terms. A Director must run and be successful after each three year term to secure the next three years to a maximum of nine years (three terms). After nine years a Director must take a one year break before being eligible to run again. Good Board governance ensures that Otter Co-op operates in an economically, socially and environmentally responsible way, aligned with the interests of our members. If you have any questions please refer to our website or call Merilee at the Administration Office 604 607 6923.

Scholarships TEN ($1000) OTTER CO-OP SCHOLARSHIPS AVAILABLE If you are currently a grade twelve student and your immediate family member (parent/guardian) has been an active member for a minimum one year and has spent at least $2000 in the prior fiscal year you are eligible to apply for one of (eight) $1000 scholarships offered by Otter Co-op. We also have (two) $1,000 scholarships available for a mature student (an individual that has not been in an educational environment for the previous three years, and has not received an Otter Co-op Scholarship in the past three years). Applications are available on our website www.ottercoop.com. Deadline for applications is April 15, 2016.

Spring is in the air, I am still of our mill in Aldergrove, and additional sales and profits for the long shocked at how quickly our look forward to having the term health of our organization. Your 2015 year went by! February 27 new section up and running board, management and employee group marks Otter Co-op’s official fiscal shortly. continue on a track of fiscal responsibility year end, and I am pleased to balanced with sound marketing Projects in the works for report that by all accounts so far, objectives to ensure we have continued 2016 include the gas bar it has been another successful development and growth for the future. project in West Kelowna, as year overall for your Co-op. well as continuing work on Other fantastic happenings at the We had another record our upgrade to the Fraser Co-op this past year include several of breaking year of sales, ending at Highway and 248th gas bar our team receiving long term service Jack Nicholson $199,601,398 million, surpassing location; continued planning awards, including up to 45 years with OTTER CO- OP last years’ record of $183.8 Otter Co-op! I am so proud to work for G EN ER A L M A N AG ER on a site on property million by $15.7 million, or 8.6%. we own on the Mission/ a company that has such great benefits Fantastic results once again Abbotsford Highway; a major and opportunities that an employee made possible by our dedicated team interior upgrade to our Retail Centre on would stick around that long. I believe and family of directors and employees at 248th in Aldergrove, as well as further it is a great testament to the culture at Otter, as well as you, our loyal shoppers upgrades to our feed mill. We continue Otter. And even more exciting, is this and owners. It is much too early yet to to watch closely changing policy for coming year we will be celebrating some report on our bottom line earnings for liquor in grocery stores, as we see this as with as many or more years of service, 2015 as we continue to work through our another profitable service for Otter to stay tuned for those announcements! year end processes. I urge you to come offer our members when the opportunity Here’s to another great year ahead, and out to our annual meeting in May and arises. we look forward to continuing to serve hear the full results. These projects fit well with our corporate our member/owner needs well into the future. Remember, you don’t have to be Some of the major events that happened business plan goals of continued growth a member to shop at Otter, but why not! throughout our 2015 fiscal year included and success of the Co-op, adding the unfortunate closing of our Abbotsford 2015 FISCAL SALES $199,601,398 Glen Mountain Produce Store. This location had been losing money for the past 5 years, and as we were looking Feed at our lease which was up for renewal, we could not justify continuing to lose $42,232,877 member funds and keep this location Gas Bars open. On a happier note, we completed Bulk $82,573,694 construction and opened a new Otter Petroleum gas bar facility in Penticton, and the Retail Food, $44,590,213 site continues to grow in volume each week. Otter has also closed on property Hardware, in West Kelowna, and we anticipate Clothing and construction beginning late this spring Pharmacy on a new gas bar and convenience store in that community. In our feed division, $30,204,614 we are just completing a major upgrade

Visit your local CO-OP® and THE MARKETPLACE™ food stores, convenience stores/gas bars and home centers through April 21, 2016 to receive 1 Game Ticket with every transaction.* • Spend over $50 and get 2 Game Tickets! • Spend over $100 and get 3 Game Tickets! • Spend over $150 and get 4 Game Tickets! • Spend over $200 and get 5 Game Tickets! The more Game Tickets you collect, the better your chances to win with over $8 million in prizes and discounts and 3 ways to win: 1. Collect to Win 2. Instant Prizes! 3. On Line Contest Plus a $25,000 Community Donation!

2016 FORD F150 XLT OR $35,000 CASH

FREE GAS FOR A YEAR

FREE GROCERIES FOR A YEAR

VACATION GETAWAY


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