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Wednesday, December 13, 2017
 CHS Inc. and Land O'Lakes, Inc. Named Top Agricultural Co-ops on NCB Co-op List  

NCB, known for providing creative financial solutions tailored to meet the needs of cooperatives nationwide, released its annual NCB Co-op 100, listing the nation’s top 100 revenue-earning cooperative businesses. In 2010, these businesses posted revenues totaling approximately $193.8 billion.

“The boom of cooperative organizations and the key role they play in both our national and global economy, is clearly evidenced in the growth and expansion highlighted in this year’s report,” said Charles E. Snyder, President and CEO of NCB. “As a cooperative business ourselves, we are proud to support these efforts and participate in the United Nations General Assembly declaration of 2012 as the International Year of the Cooperative, to educate the public on the benefits of cooperatives. Our report is just one of the many ways we work to inform the public on the advantages of cooperatives in all fields of enterprise.”

The following are the top two revenue producers in 2010 for the NCB Co-op 100’s main sectors:

• Agriculture:

o CHS Inc., based in Saint Paul, Minnesota reported $25.3 billion in revenues in 2010 and maintained its first place position on the NCB Co-op 100 list.

o Land O’Lakes, Inc., headquartered in Saint Paul, Minnesota reported $11.1 billion in revenues earning the number two ranking again this year.


While the companies and rankings change year to year on the list, the cooperative sector continues to advance, playing an increasingly influential role in the national and global economy. Released annually in October during National Co-op Month, the NCB Co-op 100 is just one way the Bank strives to educate and promote the importance of this sector. This year the Bank is proud to be a vocal supporter of 2012 International Year of Cooperatives initiative. The global campaign led by the UN, with the official slogan “Cooperative Enterprises Build a Better World,” is focused on educating and informing the public of the contributions cooperatives make to socio-economic development. Notably it aims to draw attention to cooperatives commitment to reducing poverty, generating employment opportunities and social integration. The initiative also seeks to draw attention to the cooperative sector in order to promote the policies, laws and regulations that will further the expansion of these enterprises.

As a long-time advocate for cooperatives, NCB shares a similar goal by providing critical financing to support the growth and expansion of cooperative businesses, while also deploying hundreds of millions of dollars to support underserved communities and cooperative expansion initiatives. NCB and other cooperatives named on the NCB Co-op 100 list are already hard at work on getting the message out on the advantages of member-owned organization. They regularly undertake programs and initiatives that promote the creation of new cooperative entities and the growth of existing ones.

Cooperatives exist in a cross-section of sectors, including agriculture, grocery, hardware and lumber, finance, energy and communications, housing, and recreation among others. These businesses provide over 850,000 jobs and create more than $74 billion in annual wages with revenue of nearly $500 billion.

Although similar to other business models, a cooperative has several unique features. It is owned and controlled by its members who have joined together to use the cooperative’s goods, services and facilities. A board of directors, elected by the membership, sets the cooperative’s policies and procedures. By pooling resources, members can leverage their shared power to buy, sell, market, or bargain as one group, achieving economies of scale and sharing in any profits generated. In addition, communities benefit both socially and fiscally by the cooperatives’ ability to access and deliver goods and services from across the nation.

The entire NCB Co-op 100 report is available at www.coop100.coop. Barry Silver, NCB Managing Director, is available to answer questions regarding cooperatives and the NCB Co-op 100. Barry can be reached at (703) 302-1955 or bsilver@ncb.coop. For more information on cooperatives visit www.go.coop.

Source: NCB News Release

 

http://www.ncb.com/default.aspx?id=4957


Posted on Friday, October 21, 2011 (Archive on Friday, October 28, 2011)
Posted by bsutton@adpi.org  Contributed by bsutton@adpi.org
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