Business View Magazine - Feb 2024

was good for survival, and soon, this implication became an obvious norm that sparked a large wave of centralization among the individual co-op associations in the area. Chief Executive Officer (CEO) Kory Kralkay, explains this phenomenon succinctly, saying, “In the 1930s and 40s, we [saw] a lot of these co-operatives originate and eventually join forces… they realized that by pooling their resources together as a regional or geographic co-op, they became better together.” Pooling of resources became the initial basis for a number of amalgamations that have taken place, with the association built on strategic mergers, going through 5 amalgamations with the first one being in 1966 between the Mannville and Vermilion Co-ops. In 2017, a pivotal moment unfolded with the merger of the St. Paul and District Co-op and Eastalta Co-op to form a new association signifying stability and community-centered values, Cornerstone Co-op. Over the past century, Cornerstone Co-op has transformed from its humble beginnings into a dynamic entity with upgraded facilities, diversified offerings, and an expanded footprint. “We’re such an essential service… in some of the communities we serve, we’re the only food offering that the community has,” Kralkay says, highlighting how important the co-op’s presence is in providing such a critical service. Facility upgrades within the 8 Eastern Albertan communities they serve has reached $55M since 2016, expanding from 21 to 24 locations in that time and updating and modernizing several existing stores with modern and sustainable improvements like LED lighting and energy-efficient refrigeration systems. The co-op, once rooted in providing bare essentials, has diversified to meet the evolving needs of member-owners. Today, it boasts six food stores, two pharmacies, four liquor stores, agriculture and commercial petroleum services, three gas bars, and two home and building centers. Its journey spins a story of not just sustaining but thriving, from foundational services to embracing newer frontiers like liquor and pharmaceuticals. 190 BUSINESS VIEW MAGAZINE VOLUME 11, ISSUE 01