General Manager Terry Tremblay addresses the crowd at the Co-op Community Conversations meeting in Melfort. (Cam Lee/northeastNOW)

By Cam Lee

Prairie North Co-op update

Challenges and opportunities highlight Prairie North Co-op meeting

Mar 14, 2024 | 11:00 AM

It’s been a year of growth and challenges for Prairie North Co-op.

The organization held the second of three Community Conversations at the Canalta Hotel in Melfort Wednesday night.

General Manager Terry Tremblay told northeastNOW there have been, and continue to be, exciting opportunities and expansion.

“We’ve done so much growing, building so much, new foods store in Melfort, the liquor store (in Melfort), gas station in Archerwill…we’re about to start a new gas station in Kelvington,” Tremblay explained.

While the growth is exciting and sales were up in most departments, that growth presents challenges of its own. Many of those positive changes were financed, and the higher interest rates have affected profits.

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“Our interest rates went from two per cent to seven per cent on that financing, so our bottom line was impacted by about two million dollars in interest costs,” said Tremblay.

He added Prairie North Co-op wanted to protect farmers from the fertilizer and chemical shortages experienced in 2022, so they stocked up for 2023 when costs were high. As the supply chain improved, their stockpile dropped by 30 to 40 per cent in value.

“Again, a pretty negative impact on our bottom line,” Tremblay said. “But those decisions to have that inventory was to make sure our farmers didn’t run out of the stuff they needed.”

The decision to build in Melfort, Archerwill, and Kelvington was made to keep Prairie North relevant for decades to come, according to Tremblay.

The former Melfort grocery store at the Melfort Mall was nearing the end of its expected life, and Tremblay said it would have cost almost as much to renovate it as it did to build new. A plough wind took the Kelvington gas station’s roof off a couple of years ago, while the Archerwill station was in desperate need of a major renovation.

“We’re really committed to making sure Prairie North Co-op has high-grade facilities in our rural communities.”

Tremblay said the Co-op put off building a food store in Melfort for a while and they decided to go forward with the project knowing the costs of building would only go up in the future.

“It only got more expensive so at some point you have to move ahead with those things.”

He was pleased with the turnout for last night’s meeting, with well over 20 people in attendance.

“It’s good to get out…it shows transparency, and it helps me and my team get to understand the concerns of our members,” Tremblay said. “We take it seriously – that’s why we’re here is we want to be a company that is very responsive.”

During the slide show, Tremblay pointed out that Prairie North in 2024 is focusing on asset renewal, while also paying down debt principal to help the bottom line in the years to come.

Tremblay wouldn’t get into specifics about the numbers from 2023, as they haven’t completed their audited statement.

A Community Conversations meeting will be held at the Spalding Community Hall on Thursday, Mar. 14 at 7 p.m.

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Cam.lee@pattisonmedia.com

On X: @northeastNOW_SK