They're in the mail! Your Discovery Co-op equity cheque should be arriving at your door shortly.
Based on your 2020 purchases, your Discovery Co-op allocated over $2.25 million to members' accounts. Due to COVID-19 restrictions, all cheques have be mailed to avoid unnecessary exposure for our members and team.
|Food & Pharmacy||2.00%|
|Bins & Augers||2.00%|
|Chemical & Seed||2.00%|
|Oil & Grease||4.00%|
|Farm Hardware & Feed||1.00%|
What is cash back and equity?
Local Co-ops share any profits realized in a year with their members. The Board of Directors approves an amount, which is returned to members as a percentage of their yearly purchases. Members will receive a portion of this in cash (amount must exceed $20) and the rest will be deposited into an equity savings account that grows over time.
Member # 99999
Member's equity account at end of 2019 fiscal year: $100.00
Fuel purchased from Discover Co-op in 2020: $5,200
Equity allocation for fuel: 4%
Total equity earned in 2020: $208.00
Cash back: $52.00
Member's equity account at end of 2020 fiscal year: $256.00
Member # 88888
Member's equity account at end of 2019 fiscal year: $50.00
Food store purchases from Discover Co-op in 2020: $650
Equity allocation for food: 2%
Total equity earned in 2020: $13.00
No cash back cheque (cash back equity earned less than $20)
Member's equity account at end of 2020 fiscal year: $63.00
Where can I cash my cheque?
If you want straight cash, your financial institution is your best option. If you are shopping, and plan on spending most of your cheque in one store, you can use your cheque with us today. You can apply your cheque directly to your charge account (if you have one) at the administration office.