Red River Co-op Sending Out Cheques Worth $33.7M

Check your mailboxes, Winnipeg. There could be a cheque in there from Red River Co-op.

The cooperative is sending out its annual rebates worth $33.7 million for the 2019 fiscal year.

“As a cooperative, we are proud to be a different kind of business that shares profits with our members, ensuring the money stays in the communities we serve and enriches those communities,” said Doug Wiebe, Red River Co-op CEO.

Members receive eights cents per litre on fuel purchases, two percent on food purchases and four percent on the full price of pharmacy prescriptions.

In total, $37.8 million is being returned to members. The remainder of equity earned stays in members’ equity accounts with Red River Co-op.

The Winnipeg-based cooperative has more than 310,000 members.