Co-operators welcomes three new members

At the company’s annual general meeting in Regina, SK, The Co-operators welcomed three new members and celebrated a year of growth as it marks its 60th anniversary.Joining The Co-operators are outdoor equipment supplier Mountain Equipment Co-op of Vancouver, BC; cable television provider Access Communications Co-operative of Regina; and agriculture goods and services business La Coop fdre of Montral, PQ. All three have enjoyed a long business relationship with The Co-operators. This brings the total number of co-operative organizations in the group up to 31. “Strengthening our membership and providing value are more critical now than ever,” says board chair Peter Podovinikoff. “The forces of globalization are pressuring many co-operatives to merge, re-capitalize or explore different business structures. We are not impervious to these forces that threaten the very nature of our organizations. In the face of them, we must reaffirm the strength, viability and value of the co-operative model”The agm also marked a strong 2004, with the company reporting consolidated net income of $142 million, up $61 million over 2003. And, the company celebrated its 60th anniversary.CEO Kathy Bardswick says building on the success of the past year to provide financial security to Canadians and their communities is key. Bardswick added the importance of better communication with clients and stakeholders as a goal.