1.800.667.3056

February 28, 2020

TO: Our valued members:

Please find attached the notice for our Special Members Meeting, scheduled for Thursday March 26, 2020 at the Mildmay Carrick recreation Complex. Here are some important points for your reference:

Sam Luckhardt
President
Huron Bay Co-operative Inc.

Tim Summers
President
North Wellington Co-operative Services Inc.


FREQUENTLY ASKED QUESTIONS


What is the benefit for me with this new alliance?
A stronger, larger co-operative profitably providing core products and services in a competitive environment. It also allows for member investments through capital, which provides opportunities to earn income.


What will be the name of the amalgamated co-op?
Huron Bay Co-operative is the proposed name. We believe it is the best fit for our areas. Lake Huron /Georgian Bay surrounds and defines a big part of the geography we serve. The boards have discussed alternatives several times and concluded that this name is a good long-term name. It also is more cost efficient as a name, as less change will be required to the overall identity.


What is an amalgamation?
An amalgamation is a legal process that allows two co-operatives to combine their memberships, assets and liabilities together into a new co-operative. In this situation, there is no buyer or seller. It is a democratic decision to combine the two entities. In our case, we are coming together as equals. This is not a takeover by any one of the co-operatives.


How does this affect my membership with my co-operative now?
All members of the co-operatives will continue to be members of the amalgamated co-operative.


What services will the new co-op offer me?
The same services you have received from your local co-op will continue to thrive. We have the same core business, supplied by the same supplier partners.


When will this transition be complete?
We are proposing that the amalgamation will become effective September 1, 2020. The boards feel this is a reasonable timeline and allows time to prepare staff and systems to be ready.


How big will this new co-op be in revenue, capacity, and territory?
Our current combined sales are over $71.7 million. Our combined assets are $47 million dollars. The territory includes most of Grey, Bruce, Wellington and Huron Counties.


What about my existing investments with my local co-op? What happens to that money?
Your current investments will be part of the new cooperative capital structure, on the same terms and conditions, for all member, special and, demand loans.

NORTH WELLINGTON & HURON BAY CO-OPERATIVE LOCATIONS