Central Alberta Co-op members can vote for a proposed amalgamation with Red Deer Co-op at a meeting on Oct. 10.
The meeting takes place at 7 p.m. at the Innisfail Legion that night.
“The possibilities increase greatly with the amalgamation with a stronger balance sheet,” said Russell Wolf, the Central Alberta Co-op board president.
A flyer put out by both co-ops shows a possible cost savings of about $475,000, without any predicated job loss.
“There may be some realignment, but no jobs will be lost,” he said. He explained both co-ops are “healthy” financially and the proposed combination will create a bigger organization that can compete with an increasingly consolidated marketplace.
Equity will be transferred to the new organization, which will also be known as the Central Alberta Co-op. If people have equity in both, it will be combined, he said.
Feb. 1 would be the official start date for the amalgamation if it is passed by members of both co-ops.
“We've been working for this for almost a year now,” he said. Keeping the member-ownership feeling will be a priority, he said.
The advantages include things like being more attractive to potential employees and increasing the stores members can shop at, he said.
Central Alberta Co-op has locations in Innisfail and Spruce View, as well as the agricultural supplies at Greenway. Red Deer Co-op has 14 different locations.
Larry Parks, the general manager of the Red Deer Co-op, said a two-thirds majority of members showing up to each voting meeting is needed to pass the amalgamation.
“I think it's great,” Parks said of the proposal. He noted it gives Red Deer Co-op agricultural members access to items they don't sell.
Several people in the parking lot of the Innisfail grocery store location hadn't had the chance to read the letters sent out to members about the proposal. Some people were able to comment, however.
“I think it's a great idea,” said Tina McCormick. She said she shops at both co-ops so this will be convenient for her.
Member Margaret Wagers said she was in favour of the combination.
