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By Tara de Ryk DAVIDSON-Members of Davidson Co-op Association will decide next Wednesday whether to approve a merger with Riverbend Co-op based in Outlook. A special meeting is set for April 14 at which members will be asked to vote on amalgamating the two Co-ops. For it to proceed two-thirds of members at the meeting must be in favour, says Geoff Anderson, general manager of Davidson Co-op. The members of Riverbend Co-op will vote at a special meeting on April 13. For the amalgamation to occur, it requires the support of the members of both Co-ops. At the Davidson meeting, Anderson said he and Riverbend's general manager Dale Firby will do a presentation on the benefits of the merger and then will conduct a question and answer period "so we can give as much information as possible prior to the vote," Anderson said. He and Co-op employees have visited some farm customers to explain the merger and to answer any questions. "For the most part it's been pretty positive. We've had a lot of questions about the equity, people wondering if they are losing equity," Anderson said. With the merger, the equity position should improve for Davidson members, he said. Riverbend Co-op pays out its members at 65 years of age, compared to Davidson's payout at 75, Anderson said, adding that Riverbend has an equity cap at $8,000 so once a member reaches the $8,000 cap they receive their full equity then and for every year after. He said anyone with a Davidson Co-op membership may vote at the special meeting. Each party in a joint membership has a vote. Anderson said people should check their memberships and for those who mistakenly thought they had a joint membership, but have found out it is a single, can stop by the Co-op office and get it switched quite easily before the meeting.
The leaderonline is a division of The Davidson Leader, Davidson, Saskatchewan, Canada. |