BELLE FOURCHE—The check is in the mail! CBH CO-OP is in the process of sending out over $2,000,000 in patronage checks.
CBH CO-OP has a unique set up where the more successful the company is, the more that is shared with the people who help make it that way! The consumers are also the owners. Through the Patronage program, CBH CO-OP gives a portion of the profits back to the members. “So a patron is a consumer of the goods and they have ownership in the CO-OP. With Corporations, in order to be an owner, you have to buy shares to share in the earnings, but with a Cooperative, your purchases at the CO-OP are what create the value—the dividends that come back to the individual,” explained CEO Todd Reif. “There is no capital outlay to be a member. You become a member and share in the earnings based on the amount of business that is done at the CO-OP.”
Anyone can be a member, just sign up and shop with one of the CO-OP owned businesses. “If you are a person that consumes the goods that we have, like fuel, or LP or ag products, any of those types of things, you can be eligible to be a member. It’s just a form, it’s very simple and there are no obligations,” said Reif.
Checks are sent out once a year. The amount of the check is based on the amount you spend supporting the CO-OP; it is based on percentage spent. If a person spends 1 percent they get 1 percent of the earnings. Reif explained, “Myself, I’m a member and I’m primarily a consumer of fuel and items at C stores. But others, they might be a contractor or a home heat buyer or rancher and those dollars definitely add up quicker.”
So if you regularly fill up at the pump, have propane delivered or purchase feed for your animals, you could be earning equity in the CO-OP. Sign up and perhaps that equity will pay you some dividends next year!
Reif expressed how thankful the CO-OP is to the Belle Fourche and surrounding area for the support they have received during the building of and moving into the new business complex. “I don’t want to leave anybody out by naming them, but (everyone has) been very supportive. The area—and it’s not just Belle, it’s throughout the area that we’re working in—it’s just been fantastic! The Belle area has been a highlight for us, coming together and getting in the new building, getting situated—everybody’s been very patient, and it’s been going good!”
Read the full issue of the Belle Fourche Beacon by clicking here.
