In 1993, following the negotiations between Unocal and the oil jobbers it left behind in this region, the Southeastern Oil Jobbers Cooperative, Inc. (SOJC) was born. The SOJC consisted primarily of smaller operators who established a true cooperative "of marketers, by marketers, for marketers." The Co-op was founded on the principle of autonomy for its members, trusting their judgment and expertise in their respective markets on issues such as purchasing volumes and imaging site locations.
Co-op membership requires only an initiation fee, a purchase of one share of stock (members can only have one share so ownership will be equally divided), and a Co-op fee of 1/10 of 1 cent per gallon purchased. As a result of this investment, members in good standing receive a monthly rebate when they pull 85 percent of their contract volumes, as well as annual dividends at the end of each calendar year. The Co-op has paid back to its members annual dividends at the end of each year, since first providing them in 1996.
By 2008, the SOJC had changed its name to the PURE Oil Jobbers Cooperative, Inc., in celebration of its 15th anniversary as a group of highly principled petroleum marketers. Their talents now oversee a petroleum brand – PURE – that has come full circle, with tremendous brand equity garnered through nearly a century’s worth of business history.
Note: sources for this history of PURE include the Encyclopedia of Chicago and The Journal of Petroleum Marketing.