Otter Co-op, a trusted and member-owned local retail co-operative, is pleased to announce their much-anticipated patronage reimbursement for the 2022 fiscal year. The announcement was made during the Otter’s virtual annual meeting last night, as they shared the previous years’ financial results and made some exciting announcements.
In a show of gratitude and appreciation for their loyal members, Otter Co-op is set to distribute a significant patronage reimbursement amounting to over $6,200,000 in the form of cash and equity. Eligible members will have their patronage cheques mailed to them this July. This reimbursement is a testament to the Co-operative business model and will be made in proportion to each member's purchases during the 2022 fiscal year. This equates to…
"We are thrilled to announce the patronage reimbursement for 2023," said Jack Nicholson, CEO of Otter Co-op and Angry Otter Liquor. "At Otter Co-op, our members are at the heart of everything we do. It is their continued support and trust in our Co-operative that enables us to thrive and make a positive impact in our community. We are excited to give back to our valued members through this reimbursement, which will both provide them with additional funds to spend as they please and help stimulate the local economy where we live, work and play."
Otter Co-op’s 101st Annual Meeting had other notable highlights. CEO Jack Nicholson spoke to their community impact in 2022 of over $419,000 in sponsorships and donations to more than 125 local organizations and non-profits. As well, Charlie Fox, Shannon Todd Booth and Carlo Bonetti were confirmed to be re-elected to the Otter Co-op Board of Directors for another three-year term by acclamation. Lastly, Jack also officially announced a $50,000 community grant being awarded to Julia’s Junction, an inclusive playground in West Kelowna for children with physical or mental disabilities, as a part of the Community Spaces program in partnership with Federated Co-operatives Limited.
Those interested can purchase a share in Otter Co-op for $10 with no annual renewal fees. Members share in the profits of their local Co-op, along with exclusive member promotions and the ability to vote in their annual director elections. More information on Otter’s patronage reimbursement, annual meeting and membership program can be found at www.otterco-op.crs.