Federated Co-operatives Limited (FCL) is a diverse business operating in the agriculture, food, energy and building sectors. Based in Saskatoon, Sask., FCL is owned by independent retail co-operatives from across Western Canada. FCL is involved in wholesaling and manufacturing, including refined fuels and lubricants. It also provides administrative and marketing support to its member-owners.
This report provides a broad overview of operations from the past year and a feature celebrating FCL’s 90th anniversary in 2018. It is a retrospective looking back on the journey that led us to this point as we look toward what is to come.
"Looking at the full portfolio of Co-op businesses, we see that hard work across the CRS has resulted in increased sales, earnings and overall patronage back to FCL’s retail co-operative member-owners. We can attribute these results to the diversity of our Federation; through sustainable and balanced growth, we’re able to invest back into our communities."
D. Scott Banda, Chief Executive Officer
CELEBRATING 90 YEARS
FCL’s progression from its early beginnings to where it is 90 years later has not been a straight line. However, the principles on which it was founded remain the same.
Like many co-operatives, FCL started with a need. In the first quarter of the 20th century, co-operatives began to form in communities across Western Canada.
After many early starts, retail co-operatives closed and growth reversed until they began to improve consumer knowledge of the co-operative model and work together, forming provincial wholesale societies. FCL was created and grew over time as the four Western Canadian provincial wholesale societies amalgamated.
The wholesales initially acted as buying agents on behalf of their member co-operatives, but would eventually build warehouses for inventory. The amalgamation with the Consumers Co-operative Refinery Limited (a co-operative formed by eight enterprising farmers who believed they could produce and distribute their own gas) further strengthened FCL.
Assets would be acquired and divested to suit the changing needs of what would become the Co-operative Retailing System. Today, FCL’s business is centred primarily on four areas: agriculture, energy, food and home and building supplies. Advancements in technology, innovation and practice have changed the way FCL does business; however, FCL remains focused on co-operative values and being relevant for its member-owner retail co-operatives and consumers for years to come.
A YEAR IN REVIEW
This fall, Co-op teamed up with thousands of Western Canadians to raise more than $570,000 for registered charities and non-profits — all in a single day.
FCL has once again ranked first in SaskBusiness Magazine’s list of the Top 100 largest companies in Saskatchewan.
Award-winning, innovative, premium products. From food to fuel, they were all made by us.