Business

Record growth seen by Otter Co-op

The Otter Co-op Board of Directors were joined by newly-elected directors Martin Power, Kent Strobel and Dick Mayer at the co-op
The Otter Co-op Board of Directors were joined by newly-elected directors Martin Power, Kent Strobel and Dick Mayer at the co-op's annual general meeting on May 29 at DW Poppy Secondary school.
— image credit: KURT LANGMANN PHOTO

Another great year of financial results for Otter Co-op has added up to four consecutive years of record growth for the member-owned co-operative.

The co-op held its 92nd annual general meeting on May 29 and the 176 members in attendance were given mostly good news about their performance over the past year.

Despite the challenges of cross-border shopping and new gas bar competition in Langley, the Aldergrove-based co-op surpassed last year's total sales by almost $5 million for a year-end total of $171,954,134.

Some of this sales increase is attributed to the acquisition of Armstrong Feed and the Hatzic gas bar. Work also continues on the new gas bar outlets in Chilliwack, Abbotsford-Mission Highway and renovation of the 248 Street gas bar.

The co-op also added 3,000 new members for a total of 36,000 active members.

Sales were up in all divisions except for the gas bar division, and with this the equity and cash repayments to members this year will total $5,679,000.

The co-op also allocates $100,000 annually in community grants and donations, including scholarships. Nine scholarships were awarded that evening to further post-secondary studies for the recipients.

Three candidates for the board of directors were elected by members that evening, and they are incumbent Dick Mayer and new directors Martin Power and Kent Strobel.

Otter Co-op awarded seven scholarships to local Grade 12 graduates on May 29. The awards were presented by Board President Dorothy Andeerson to: (from left) Robyn Flokstra (Credo Christian), Hailey Larsen (DW Poppy Secondary), Jonah Miller (Aldergrove Secondary), Joel Hansen (Langley Christian), Ashley Gilliland (Seaquam Secondary), Danielle Van Noort (Langley Fundamental) and Amelia Denny-Keys (DW Poppy Secondary).

Otter Co-op awarded two scholarships to mature students who are entering post-secondary studies. The awards were presented by Board President Dorothy Anderson to (from left) Melissa Doerksen and Terry Stromsten.

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