Western Cooperative is returning nearly $2 million to customers after reporting its eighth best year on record.
Westco announced its financial standing at its 76th Stockholders’ Meeting Dec. 4 in Alliance, which was attended by more than 200 people.
Controller Shawn Nelson presented the financial reports for the cooperative and reported that for fiscal year 2017, the company had $135 million in sales and generated a net savings of $4.4 million.
That’s the eighth best year in the company’s history, according to Chairman Mark Buskirk, who delivered the annual board report. The board approved the Equity Redemption for all members age 70 and older. In total, WESTCO is returning $1.8 million in cash back to members, following the annual meeting.
General Manager David Briggs reviewed the seven divisions that serve the members, highlighting many accomplishments for the year, with all of them contributing to the good year.
Craig Henkel of Bayard and Dan Oligmueller of Alliance, were both re-elected to the Board of Directors for another term.
The evening concluded with a performance by the Alliance High School One-Act team, under the direction of Mary Theresa Green. The drama students also helped serve the meal, which was catered by West Side Events Center.