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Industry NewsFederated Co-op celebrates 90 years in business

Federated Co-op celebrates 90 years in business


Federated Co-op is marking its 90th anniversary. CEO Scott Banda believes that Saskatchewan’s largest business couldn’t have reached such a milestone without establishing what he calls “a virtuous circle” where locally owned retail cooperatives invest the profits they generate back into local communities.

Founded in 1928, Saskatchewan Co-operative Wholesale Society (SCWS) later evolved into Federated Co-operatives Limited, which is owned by almost 200 retail co-ops across the prairies and has almost $10 billion in annual revenue.

Energy sales account for two thirds of that amount, which leads Banda to identify the 1944 merger of SCWS with the Consumers Co-operative Refinery in Regina and other provinces’ wholesalers as a pivotal moment.

FCL has invested $3.5 billion in capital across Saskatchewan over the last five years and plans to continue expanding its operations in the province.

Source: Saskatoon StarPhoenix

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