Federated Co operatives

Federated Cooperatives Limited (FCL) has reported revenues of $7.9 billion for its financial year ended October 31, with earnings of $177 million f which $117.5 million was returned to local Co-ops across Western Canada. 

“I’m proud that FCL and our local Co-ops have confronted this year’s challenges head-on and we have continued to meet the needs of Western Canadians,” saFCL CEO Scott Banda. “Co-ops have shown new levels of co-operative spirit during the COVID-19 pandemic, tackling problems together while meaningfully contributing to local communities as demonstrated by our ongoing investment in the West.

From the onset of the COVID-19 pandemic, the local Co-ops supported by FCL have provided essential goods to their communities and in many cases have served as a lifeline to residents in many communities. Co-ops began adapting quickly by finding creative solutions to meet their communities’ unique needs. 

Co-ops also banded together to deliver Co-op Helps, a campaign that allowed Co-op customers and members to nominate people who needed a helping hand in dealing with the pandemic or those who were making a difference in their communities’ response to the pandemic. In turn, Co-ops sent more than 2,500 gift cards to nominees and shared thousands more messages from customers thanking all those helping respond to the pandemic. This is only one glowing example of the many community projects funded throughout 2020. In total, FCL invested $8.1 million in community projects throughout the year.

“We will continue to persevere through this pandemic by working together, supporting our communities, and adjusting to ensure the long-term sustainability of our co-operative,” said Banda.

From the onset of the COVID-19 pandemic, the local Co-ops supported by FCL have provided essential goods to their communities and in many cases have served as a lifeline to residents in many communities. Co-ops began adapting quickly by finding creative solutions to meet their communities’ unique needs. 

Co-ops also banded together to deliver Co-op Helps, a campaign that allowed Co-op customers and members to nominate people who needed a helping hand in dealing with the pandemic or those who were making a difference in their communities’ response to the pandemic. In turn, Co-ops sent more than 2,500 gift cards to nominees and shared thousands more messages from customers thanking all those helping respond to the pandemic. This is only one glowing example of the many community projects funded throughout 2020. In total, FCL invested $8.1 million in community projects throughout the year.

“We will continue to persevere through this pandemic by working together, supporting our communities, and adjusting to ensure the long-term sustainability of our co-operative,” said Banda.

Do you have company or people news you want to share with the industry? Let us know about appointments, promotions, retirements and other company developments.
Send information and images to our digital editor.

Back to Top