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.
General Manager’s Report: Bruce Thurston
W
ow! What a year it’s been. Unlike any other year we have seen in history. The COVID-19 pandemic has changed many things, and one of those things has been the way we do business. Gone are the days of the local grocery store or agro centre being the meeting place where friends would stop and talk and ask what everyone has been up to. Safety protocols have been put into place, individual shopping is recommended, and masks have made it difficult to say “hi”, or even recognize your friends and neighbors.
Many businesses have closed or are struggling through these times, and this is why we have been so aggressive with our “shop local” campaigns. We have always been about shopping and supporting local, and in December, our Season of Giving campaigns saw more than $60,000 injected into the local economy by purchasing $80 gift cards from locally owned and operated businesses, by providing 312 seniors in residential care facilities in Yorkton, Kamsack, Theodore and Saltcoats a Christmas gift, by handing out gift cards from local businesses to random folks in the communities we serve, just for doing business locally, by providing more than $20,000 to The Soup Haven through donations from our members, by adopting 10 families at Christmas and providing all of the food for a traditional Christmas dinner, along with gifts for everyone in the family, by providing Santa’s “helpers” who helped write letters back to all the kids who wrote Santa a letter and dropped it in the mailbox at our locations, and the list goes on. We rely on local support, and by working together with our local friends, neighbors, and businesses, we all have a better to place to live, work and play. We thank you for your support and we hope that we can get back to a more “normal” soon.
80 Years of Milestones
We Are: Legacy Co-op www.legacyco-op.crs | info@legacycoop.ca | 306.783.3601
2
Operations Report
Board Member Profile: Gene Krepakevich
Legacy Co-op, like most other retail businesses was affected by the COVID-19 pandemic. In some c ommodities, like food stores and home/ agro centres, sales thrived as people were not eating out in restaurants as often, and not traveling to larger centres for groceries. Home centres were busy selling lumber and do-ityourself products since staying at home was the norm, and people finished those projects that they’ve been meaning to do for months. Lack of travel meant that our gas bars and cardlocks, usually our strong areas, suffered. Gas Bar volumes were down 50% some weeks, with COVID-19 protocols limiting travel, and cardlocks showed similar results. Legacy Co-op Board of Directors is pleased to announce that your Co-op still had a very positive year despite the pandemic. Sales in 2020 dropped to $92,548,291, but earnings were still very strong at $3,456,107. This still provides for a strong patronage allocation back to the members. Members will be receiving $2,462,857 returned through equity and cash back. Allocations for the 2020 fiscal year are as follows: • • •
Food: 3.50% Petroleum, lubes: 3.75% Hardware: 2.00%
Unfortunately, due to COVID-19 protocols, we will not be able to celebrate as we have in the past in each location, but we will plan to celebrate once the restriction open up. Cheques will be mailed out along with the member’s equity statement in May. The Board of Directors would like to take this opportunity to thank each and every member and customer for their support throughout the pandemic. It is very important to “shop local” since these will be the folks we depend on for our goods and services into the future. 3
T
he passage of time has a genuine way of awakening the story of our lives. The attempt to answer what, who, when, where, how can usually be answered by why. Asked to record my 41 years of service with the Yorkton / Legacy Co-op Board of Directors it became apparent it would be simple but also challenging.
I was significantly influenced by my parents who became members in the late 1940s. I was always reminded to give back to the community – whenever, however, and wherever. I personally joined the Yorkton Co-op in 1956 - at the start of my career, as an educator. In the late 70s my interest in the Co-op organization peaked. The FCL organization of retails throughout Western Canada - the examples of governance communication strategic planning and the strong response to community support led me to become a delegate in the Yorkton retail. Within a year I was elected to the board of directors in May 1980. Although the learning curve was steep the need to listen and learn was paramount because Co-ops in the early 80s were in significant financial crisis during the highest interest rates of 15 to 20% in the late 70s and early 80s - were almost unbelievable. Credit policies became paramount. Membership support and understanding were crucial. Amalgamations became yearly occurrences. Closures of department's not only a survival to tool - but necessary to survive bankruptcy. Therefore strong leadership by general managers determined Board of Directors decisions, and a determination to succeed drove our relentless energy. Highs and
lows of decisions occurred regularly. Frozen wages were not popular. The reality of building a new grocery operation on Front Street, our present location, followed by the closure of our lumberyard operation only a short time after rebuilding because of a devastating fire, were challenging Board decisions. The history of our Co-op revolves around our membership, our accomplishments as a community organization, and our sincere dedication to be dedicated generous community members ready to serve. My personal growth as a board member for 41 years has enabled me to serve and be acknowledge through my involvement with any many citations. As a Board Member serving the retail it has been my privilege to have had the experience of three fabulous general managers part of our team. Mr. Pearson, Ron McClenaghan, and Bruce Thurston all are part of the success Legacy Co-op today enjoys.
We are leaders in our communities that we serve and beyond. We endeavour to serve our members in the present, and the future, with the same energy and excellence where we have in the past. It has been a great privilege and honor to have served all these years on the Board. In 2022 my term will end after 42 years of service - but I have lifelong memories of being dedicated member. As I said in the forward message in the history book in 1990, “We need to continue evolving. We must push ahead but not simply to pat ourselves on the back. We must be courageous. Decisions will take some soul- searching. The future lies not in the past, but in the uncertainty of time to come.”
www.legacyco-op.crs | info@legacycoop.ca | 306.783.3601
Congratulations to our Countdown to Christmas Winners
Access the Flyer Online Do you want quick and easy access to our flyer? There are 3 easy ways to view our flyers. Our app also has coupons to save you even more. Check it out today!
Co-op is a different kind of business – we’re truly local. Your local Co-op was built by you and built for you. Each Co-op in Western Canada is independent, so it offers the products and services needed by the communities it serves. Visit any one of our locations in Theodore, Kamsack, Churchbridge, Ebenezer or Yorkton for more information.
LEGACY CO-OPERATIVE ASSOCIATION LIMITED 30 Argyle Street Box 5025 Yorkton, SK., S3N 3Z4 PHONE: (306) 783-3601 FAX: (306) 786-6090 EMAIL: info@legacycoop.ca MAIN MAIN
SQUARE
SQUARE
CIRCLE
CIRCLE OLOUR
www.legacyco-op.crs | info@legacycoop.ca | 306.783.3601
COLOUR
FACEBOOK FACEBOOK
TWITTER TWITTER
YOUTUBE INSTAGRAM INSTAGRAM YOUTUBE
LINKEDIN LINKEDIN
ADDITION ADDITIONAL
PINTEREST DROPBOX DROPBOX EVERNOTE EVERNOT PINTEREST
4