Northern Star Cooperative services retires record amount

In their ongoing quest to return cash to the communities they serve, Northern Star Cooperative Services has announced that the Board of Directors has authorized the retirement of equity to its member-owners. Though equity retirements during the month of July have been a practice of the cooperative for many years, this year’s retirement will be the largest in their 100-plus year history.

9,999 checks totaling nearly $800,000 will be mailed to member-owners on Wednesday, July 10th. These checks include the retirement of all 2004 and prior equities, plus 4% of all remaining member equity held by the cooperative for reinvestment. Northern Star Cooperative Chief Executive Officer, Brad Box is proud of the cooperative’s equity retirement program and sees it as a tremendous value to members. “I really feel that this retirement is a true reflection of what the cooperative system is all about. Members doing business with the cooperative, the cooperative reinvesting a part of the member earnings, and then the Board deciding to retire those member equities in a timely fashion.”

Northern Star Cooperative Services has a proud history of being a successful and profitable cooperative, and according to Box, that is the reason this cooperative “works the way it was designed.” Box continued, “Many people do really realize how much money Northern Star Co-op puts back into the hands of their members on an annual basis. With this equity retirement, we have now paid back $1,733,280 in cash this year alone. That cash goes into the members’ hands, and for the most part, it is spent in the communities we serve. Not a single competitor can tell this story and I am very proud that we can.”

If you’re not a member of Northern Star Cooperative, the process to become a member is quite simple. All you have to do is fill out an account application, do business with Northern Star Co-op’s business units, and begin earning. Applications are available at any of the co-op’s locations or on their website www.northernstarcoop.com.