FCL reports strong 2023 financials

Federated Co-operatives Limited’s (FCL) had $12.5 billion in total sales for 2023, which resulted in net earnings of $781 million. FCL was able to distribute $399 million in patronage back to its local Co-ops.

“We’re very proud of our 2023 results and $399 million in patronage allocation means that Co-op once again, put more than $1 million a day back into the western Canadian economy,” says Heather Ryan, CEO of FCL. “Sharing our financial success is one way we generate value for local Co-ops and the communities they serve. Through the distribution of our earnings, local Co-ops are able to pass the benefits on to Co-op members and communities across western Canada. The value proposition of Co-op is when people support Co-op, they’re supporting their community.” 

For more information on FCL’s 2023 fiscal year, visit https://www.fcl.crs/news-reports/annual-report