Capricorn has reached 25,000 member businesses across Australia and New Zealand, 48 years after the organisation was created by 17 Western Australian Golden Fleece service station operators who sought parts purchasing power by uniting as a cooperative. According to Capricorn, the organisation is now the third-largest cooperative in Australia.
“I genuinely believe cooperatives are purpose-driven organisations that have relevance and meaning for their members’ lives every day,” said David Fraser, Capricorn Chief Executive Officer. “This is the difference between the investor model and the cooperative and mutual model of business, and it is the bedrock that makes them so special.
“Supporting our members’ businesses and helping to make them stronger is fundamental to ensuring a positive and sustainable future. Making your business stronger is without a doubt the major advantage of being a Capricorn member, as more than 25,000 members across Australia and New Zealand can attest,” Fraser added.
Bradley Gannon, Capricorn Automotive Chief Executive Officer, said increasing member numbers creates more opportunity to add value, helping them run a better and stronger business.
“Although our size and offering have increased over the years, what hasn’t changed is our complete member focus – we still put the member at the heart of everything that we do. Together we are stronger and together we will survive and thrive in these challenging and ever-changing times,” Gannon said.
Capricorn said that as a cooperative, members are also owners, making them eligible for declared dividends. By using their Capricorn trade accounts to purchase from Capricorn Preferred Suppliers, members benefitted from $92 million in pre-tax returns in 2021. This equated to a member value return of 28 per cent.