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Red River Co-op Equity Cheques Hitting Mailboxes

February 22, 2021 2:47 PM | News

Red River Co-op

WINNIPEG — As they say, the cheque is in the mail. Literally.

Red River Co-op is sending out its annual batch of equity cheques to members, totalling an $18.6 million return for the 2020 fiscal year.

Members receive a return of four cents per litre on fuel purchase, two percent on food purchase and four percent on pharmacy prescriptions.

CEO Doug Wiebe says the Co-op faced “tremendous challenges” this past year, which impacted the organization’s wholesale refining operations, resulting in reduced allocations to its more than 312,000 members.

Despite financial setbacks in one area, Red River Co-op says both the food stores and gas bars provided a positive contribution to revenues.

Red River Co-op modernized its St. Vital food store in 2020, while also constructing a new food store in St. Norbert, rebuilding its gas bar in Niverville and constructed a new oil warehouse. Future plans this year will see an upgraded and expanded Selkirk gas bar and car wash, construction of a new gas bar on Lagimodiere Boulevard, and a new food store at Seasons near the Outlet Collection Winnipeg. Food stores in Lorette and Gimli will also be modernized.

Tags: Winnipeg