Legacy
Spring 2021
Newsletter Legacy
80 Years of Legacy Co-op
Message from the President of the Board - Clark Anderson
2020 will be a year that goes down in history. It will be known for the COVID-19 Pandemic. We are still in the thick of things with safety protocols being updated weekly and sometimes daily to ensure everyone’s safety. During tough times, such as these, the strength and diversity of a Co-op shines. Legacy Co-op sells a multitude of various products from fuel, to lumber, to hardware, to crop inputs and food. Because of our diversity, portions of our business thrived, while other portions of our business suffered throughout this time. Limited travel has affected our gas bars and cardlocks significantly, while our food division is doing well this year. Crop inputs and farm fuels had an average year since farming still goes on during difficult times. Despite the pandemic and all the challenges it brought with it, like keeping our staff, customers and community safe, we had a successful year. Our earnings were very good given all of the additional expenses incurred due to the pandemic. The Board has made the allocations for the 2020 fiscal year, and although some are lower than last year and some higher, we still returned more than $2.8 Million dollars in equity and cash back to our loyal members. We want to thank you for supporting Legacy Co-op through these difficult times, and we hope that you continue to stay safe.
Notice of AGM: July 22, 2021 This years AGM will be held virtually on July 22, 2021 at 7pm. To register email: info@legacycoop.ca
Legacy Co-op has concluded it’s 80th year in operation. From it’s humble beginnings, with sales of $1,002.72, net earnings after expenses of $101.28 and 70 members; grew a large, multi-commodity retail with sales of $102,799,431 in 2019, net earnings of $5,789,168 and 16,931 actively purchasing members. Assets of $347.50 in 1941 compare to assets in 2019 of $62,648,230. Certainly times have changed since 1940. As history goes, our founding members had a vision of working together, to satisfy a need for reasonably priced goods and services. This concept is still the foundation of Co-operatives today, including Legacy Co-op. Members purchase goods and services from their local co-op, and any earnings at the end of the year are shared by the members based on their purchases. We have faced tremendous challenges as a community this past year, and Legacy Co-op is proud to have been there for you as we navigated unprecedented change. Our staff has worked hard to prepare and deliver annual equity cheques to our supportive members. We know this cash repayment is one of the great values of being a Legacy Co-op member, especially with the year it has been. Keep an eye on your mailboxes, cheques are sent and expected mid to late May. In addition to our equity and cash back, Legacy Co-op was proud to provide support for local community events and initiatives through our member relations, donations, and community support funds totaling more than $115,000.