SASKATOON ― Federated Co-operatives Ltd. held its 91st annual meeting this week. Members heard that the co-op recorded revenues of $9.2 billion, down four percent from $9.6 billion the previous year. From those revenues, it realized earnings of $959 million, with $649 million returned to local co-ops and their communities in Western Canada.
“Last year was one of our best financial years ever,” said CEO Scott Banda. “We share our profits with local co-ops and they have a direct, positive impact on the millions of members and hundreds of communities that support their local co-ops—it’s a virtuous circle.”
