The Best $5 you'll every spend!
Your membership share is invested in a non-interest bearing equity account. The number allotted to you is used when making purchases at the various locations listed above. All purchases are recorded and tabulated, and at the end of our fiscal year; when it is determined what our total savings are, we allocate the savings back to each member on the basis of their purchases. From the allocation we usually pay 35% in cash with the balance being added to your initial investment of $5.00. Once your total equity reaches the ($1400) one thousand four hundred and fifty dollar ceiling, set by our Board of Directors, the full amount of the allocation is pain in cash thereafter. The amount you receive from the earnings depends on how much you patronize you Co-op.
The equity you accumulate over the years plus your initial investment is returned to you upon application is you leave the Medicine Hat trading area or is payable to your estate. Once a member reaches the age of 65, the equity balance is paid down to $200, set by the Board of Directors.
In 2011, members earned equity & cash back
Your purchases at Medicine Hat Co-op locations earn equity and cash back. In this past year, the department allocations were:
Dyed Diesel - 8.5%
Food - 4.0%
Dyed Gas - 8.5%
Agro - 6.0%
Clear Fuel - 9.1%
Hardware - 6.0%
Oil & Grease - 15.0%
Prescriptions - 9.5%
Pump Gas - 9.1%
(7.0¢ per litre + 1.5¢ per litre BONUS)
Wine & Spirits - 6.5%
Cash repayments will be the same as in previous years and that is if you have less than $1400 in equity, you will receive 35% in cash and 65% will be applied to your equity balance. If you have $1400 in equity, you will receive 100% of the allocation in cash.
Total cash paid back to the members over the last 10 years!
Copyright © 2011 Medicine Hat Co-op