Frequently Asked Questions about Co-op

Have questions about North Central Co-op? We have answers!

Co-op

1. What is Co-op?
   The CO-OP® brand is used by a network of retail co-operative associations across Western Canada that own and operate Co-op Agro Centres, Food Stores, Gas Bars/Convenience Stores, Home Centres, Liquor Stores, Pharmacies and more.
    
2. Who owns and operates North Central Co-op?
   North Central Co-op is owned by over 145,000 everyday Edmontonians, who democratically elect a Board of Directors. The Board of Directors works with management to operate the business.
    
3. Why is every Co-op store different?
   Co-ops differ from community to community because they serve the unique needs of their local members.
    
4. How is North Central Co-op different from other businesses?
   A co-operative is a different way of doing business. It’s about people coming together in their communities for a common purpose. It provides the products and services that meet their needs.
   
   
5. What is a co-operative?
   The International Co-operative Alliance defines a co-operative as an autonomous association of persons united voluntarily to meet their common economic, social, and cultural needs and aspirations through a jointly owned and democratically-controlled enterprise.
   
   
6. Why should I support North Central Co-op?
   We are a local business, and we are owned by over 145,000 everyday Edmontonians. We keep our profits in the Edmonton area, instead of distributing them to Bay Street and Wall Street. We re-invest in the community by supporting local food banks, non-profits, and impactful community programming. We employ over 750 people that work, live, and play in the Edmonton area. Supporting North Central Co-op allows us to continue re-investing in the community while providing good-paying careers and essential products + services.
   

Membership

1. Is North Central Co-op membership a points or cashback program?
   Neither. North Central Co-op membership really means ownership. You receive an ownership share in our business (5 shares per membership), and receive an equity allocation at the end of each year based on your purchases AND our financial performance/profitability. The board of directors, who are community members like you, determine these allocation percentages for each commodity, and whether the allocation is given as cash or equity. It is NOT like any other membership program, because you become a part owner of North Central Co-op.
   
   
2. Why should I be a member-owner?
   As a member-owner, you can participate in the democratic decision-making process by asking questions, voting on resolutions, electing board members or even sitting on the board yourself. When profitable, North Central Co-op may return a part of these profits back to members based on how much you shop with them and how well the business performs. Some of this is returned as equity, which is like a savings account that grows over time. Additionally, we host exclusive member-only discounts and pricing in our food and liquor stores.
   
   
3. Do I need to be a member to shop at North Central Co-op?
   Customers do not need a membership to shop at North Central Co-op locations, but they miss out on the opportunity to earn equity on their purchases.
    
4. Who can become a member-owner?
   While there are some requirements, membership is generally open to any individual over 16 years of age and businesses.
    
5. How do I become a member-owner?
   It’s easy to become a member. Complete a Membership Application online here or at a North Central Co-op location in the greater Edmonton area and purchase 5 — $1 shares of our Co-op.
     
6. What is a Co-op number?
   Once your membership application is submitted, you will receive a Co-op number to use when making purchases at North Central Co-op’s locations. This number tracks purchases and is used to determine potential equity allocations.
    
7. Can I use my Co-op number at all locations?
   A Co-op number represents your North Central Co-op membership and can only be used at North Central Co-op locations. Because each Co-op is a unique business that is locally owned and operated, run by a local board of directors, your Co-op number cannot be used across Western Canada. However, you can purchase shares in as many Co-op associations as you wish.  
    
8. What is equity?
   When profitable, North Central Co-op often shares any profits realized in a year with our members. The Board of Directors approves an amount, which is returned to member-owners as a percentage of their yearly purchases. Member-owners may receive this as cash or equity, which is like a savings account that grows over time, which you can withdraw minus your 5 common shares based on the following criteria: Over the age of 65, Moved away from the trading area, or Deceased.
    
9. When do I receive equity?
   If a general cash or equity allocation is approved by North Central Co-op’s Board of Directors, they will be distributed once all accounting of North Central Co-op’s finances have been completed after its fiscal year end.
    
10. Why do you require my Social Insurance Number?
    Your Social Insurance Number is required under the Income Tax Act for tax reporting purposes. Similar to some financial investments, equity distributed to Co-op members is considered taxable income. North Central Co-op may issue a T4A form in advance of filing deadlines.
    
    
11. Why haven’t you allocated cash in recent years?
    We’ve undergone significant expansion into the Edmonton area over the past 5 years, including the acquisition of 25 Husky-branded gas bars and opening new food stores, gas bars, and liquor stores. These growth efforts, combined with a challenging financial year, mean we are not in a position to issue a general cash or equity allocation this year.