The Pioneer Co-op had a slight setback in sales in 2024 after a record-breaking 2023.
The cooperative hosted its members for the 2025 annual general meeting at the Living Sky Casino Event Centre on Wednesday night.
The meeting revealed that Pioneer Co-op members will be seeing 50 per cent of $13.5 million coming back to them in the form of equity cheques in 2025. People can expect their envelopes to arrive during the first week of June.
The total sales amount last year was $378 million. This is a slight decrease from 2023, which was $383 million.
Uli Cartman, chair of the board of directors for Pioneer Co-op, attributed this to a devaluation of existing inventory at the end of the year, which was also the listed reason in the financial report.
"We'd love to have seen it higher," said Cartman. "We're projecting higher for the following year (2025)."
Even with lower overall sales, the gross margin for 2024 was close to $2 million more than in 2023, at $54.1 million.
"Our budget was actually $1 million (of increase) for the margin," said Cartman. "I give credit to Karla Clifton and her team for the financial side of it."
During the question period, one member asked about how Pioneer Co-op was encouraging younger individuals to join. It was noted that the vast majority of members present at the AGM were older.
Cartman says they still have between 50 and 150 new members each year, while the current membership total is over 26,000.
"There's so many things that factor in with the younger generation," said Cartman. "They have commitments of their own, especially with kids. It would be nice to see them come out more and attend these meetings."
Some of the big news revealed for 2025 was the modernization of card lock fuel stations to allow for credit card payment. These pumps are open 24/7 for anyone with a card lock account currently. Once these centres are updated, they will be accessible to anyone with a credit card. Pioneer Co-op predicts this rollout to be completed within the year.
Cartman also revealed that Pioneer Co-op will invest $10 million in a new fertilizer plant. This will not only create a more local source for ag producers but also help to create jobs in the region.