FAQs

We've heard from you, our members. Here are some answers to some of your most frequently asked questions. If you have any other questions, let us know. We're happy to help.

Please review the list of FAQs below. If you have additional questions, please don't hesitate to phone our Administration Office at 306-825-2271 or stop by.

When do the Equity Cheques get mailed out?

Equity allocation rates will be announced to the membership during our Annual General Meeting, which is held at the end of April.

Cheques will then be prepared, and sent out mid to late May.

Tax Information regarding T4A's

Members that have earned over $100 of equity on purchases made during a one year period will receive a T4A in the mail. The equity received, per the T4A form, has increased your member equity account.

FREQUENTLY ASKED QUESTIONS:

There are two alternatives to enter this amount on your tax return:

NON TAXABLE- Equity was based on purchases used for personal consumption. Taxes included in Box 22 will be considered a tax credit.

TAXABLE- Equity was based on purchases that were used for earning income. Taxes included in Box 22 have paid for these taxable purchases.

The majority of our T4A's will be non-taxable, unless you are a company.

 

If you require additional assistance, please contact your tax specialist.

When do the T4A’s get mailed out?

Under law, the T4A’s must be mailed out before the last day of February.

Why did I not recieve an Equity Cheque?

Please phone in to the Administration Office, to review your equity account, in mid to late May. Members must meet a minimum purchase requirement for an equity cheque to be issued.

 

Phone 306-825-2271.

How can I be paid out my equity?

Members must be 65 years of age, or older, to quality for a pay out of their equity. If you are moving out of the trading area, you can close your equity account(s) and a cheque will be mailed to your current address. In both instances, we require that the member fill out the necessary paperwork, as obtained through our Adminstration Office. Please call our office for further information.

If I move away and return, can I use my original Co-op number?

If a member moves away and wishes to close their account, they must fill out the necessary paperwork, as obtained through our Administration Office. If a member moves back into the trading area, a new Co-op number can be purchased for $10.00 from any of our Lloyd Co-op locations. When a past member returns to the trading area, their old account that has been closed and cannot be reinstated. Please contact our Administration Office for more information.

Can I come in and get my Equity Cheque?

No, as the Equity Cheques are mailed to you. It’s important to have your mailing address updated, so that we can ensure your cheque is mailed to the correct address. You can update your mailing address by phoning the Co-op Administration Office at 306-825-2271.

Where can I use Co-op gift cards?

Co-op Gift Cards can be used in any Co-op location, in Western Canada.

Why should I get a Co-op Membership?

There are many benefits to membership. If you purchase a membership, you receive a voter-share. This means you have the right to participate in Board elections and annual general meetings. With your membership, you become a part-owner in the co-operative. This means that you can share in the financial benefits of the co-operative (some conditions apply). All in all, the $10 membership fee will be the best $10 you’ve ever spent! You’re opening up a world of opportunities.

What if a family member has passed away, and had a Co-op membership?

Please come in to the Administration Office, with a copy of the Death Certificate of the deceased member. We will discuss options with you, in person.

What if my business has been dissolved, sold, or closed?

Please come down to the Administration Office, with a copy of the appropriate documentation supporting your request. We will discuss options with you, in person.

Administration Office

Hours of Operation:

Monday to Friday: 8:00 a.m.- 4:30 p.m. (Closed for lunch between 12:00- 1:00 p.m.)

Closed all statutory holidays.

Phone: 306-825-2271