Lucknow District Co-operative sets a recordJanuary 30, 2019 5:42am
Lucknow District Co-operative is recording a record.
Heading into its 75th year, the co-op has announced a record breaking $500,000 in patronage will be paid out to its member owners.
That is a 3.61% return on member purchases.
Lucknow District Co-operative President David Gibson reported sales totaling $20 million through 2018 with a strong emphasis in energy and agronomy.
In a release Gibson says in spite of weather challenges, they showed great results in combined financial stability and increased capital strength.
It was also the Lucknow District Co-op’s strongest year financially on record.
The announcement of this year’s patronage brings the total patronage returned to members to more than $2.5 million in the past ten years.
In 2018, the co-operative enhanced services with the addition of several operational assets including a new eight-tonne spreader.
And plans are underway for an on-site bulk propane distribution facility, expected to open this spring.
At the recent annual meeting board re-elections were held.
Re-elected to the board for their second three-year terms are: Glen Gibson, Brad Gilchrist of Lucknow and James Dickie of Whitechurch.
Warren Andrew of Lucknow was re-elected for his third three-year term.
The president is David Gibson of Ripley and the vice president is Martyn VanMeeteren of Lucknow; along with directors Murray Curran and Andy Phillips of Dungannon, and Fred Durnin from Goderich.
Lucknow District Co-operative Inc. was established in 1944.