 | | | Membership | A good investment
 When you become a member-owner of the Yorkton Co-op, you are making a sound business investment in a community organization that provides both economic and social benefits. Your Co-op is an attractive alternative to chain stores and private business because you're the owner and the profits belong to you. That is why retail co-ops refer to their profits as "savings". Savings are distributed to each member-owner based on his or her patronage. And the more patronage a co-op receives, the greater the savings it can generate for its member-owners.
How it works
To illustrate how your investment in the Co-op grows, let's look at one member's transactions with the Co-op over a year.
John Doe invested $5 to become a member of the Co-op. This $5 was credited to John's equity account, identified by his new Co-op number. Each time he made a purchase at any of the Co-op's locations, the amount was recorded on his patronage record.
At the end of the year, the Co-op's financial statement showed a net profit and the Board decided to return a patronage refund to the member-owners. John's patronage record shows that his share of the Co-op's savings for the year amounted to $475.
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Patronage Record
Name: John Doe
Membership Number: 55 | Location | Purchases | Refund | Amount | | Petroleum | $5,000 | 5.3% | $265 | | Food | $5,000 | 3% | $150 | | Gas Bars - Other | $1,000 | 1% | $10 | | Agro Centres - Other | $5,000 | 1% | $50 | | | $16,000 | | $475 | The purchases John Doe made from the Food Centres totaled $5,000. His share of the savings generated in that department, at 3%, would be $150. In the same manner, his share of the savings from other departments is calculated and a total of $475 is allocated to him as a patronage refund in the form of additional shares.
John's initial investment of $5 has grown as a result of his patronage of his Co-op.
The Board also decided that the Co-op could pay out a cash patronage refund to the members. Members with accumulated equity of $1,000 will receive 33% in cash and members with accumulated equity of $3,000 or more will receive 50% in cash. Since John's equity is under $1,000, he will receive 25%, or $118 in cash. In essence, the Co-op is repurchasing those shares from John Doe. The balance in John Doe's share account is now $362 calculated as follows:
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Equity Record
Name: John Doe
Membership Number: 55
| | Dr. | Cr. | Balance | | Day 1:
join Co-op | | $5 | $5 | | One year later:
patronage refund | | $475 | $480 | | Co-op's year end:
cash payment | $118 | | $362 |
It's still John's money
If John should move away, or when he reaches the age of 70, or if he should die, his equity in the association will be repaid in full.
Yorkton Co-op Patronage Refund History
| Year | Refund | Cash | | 1940-1985 | | $1,190,000 | | 1986 | 6.63% | $156,979 | | 1987 | 5.12% | $150,701 | | 1988 | 5.77% | $221,607 | | 1989 | 1.50% | $216,437 | | 1990 | 2.33% | $131,940 | | 1991 | 3.89% | $172,128 | | 1992 | 4.79% | $208,528 | | 1993 | 5.67% | $487,420 | | 1994 | 7.38% | $370,822 | | 1995 | 6.00% | $710,595 | | 1996 | 5.80% | $689,974 | | 1997 | 6.00% | $749,335 | | 1998 | 6.00% | $753,152 | | 1999 | 5.90% | $781,768 | | 2000 | 4.80% | $782,088 | | 2001 | 5.00% | $778,944 | | 2002 | 5.60% | $857,177 | | 2003 | 5.00% | $1,006,132 | | 2004 | 4.10% | $1,047,538 | | 2005 | 3.50% | $1,198,357 | | 2006
2007
2008 | 4.90% | $1,131,544
$1,445,103
$1,557,471 | | Total | | $16,796,114 | Apply today!
Fill out an application form at any of our locations and start saving $$$ through your own business!
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