Washington, DC (October 18, 2011) — Today, 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. This year the NCB Co-op 100 marks its 20th anniversary, and still remains the only annual report of its kind to track the profits and success of cooperative businesses in the United States.
“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:
- 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.
- Land O’Lakes, Inc., headquartered in Saint Paul, Minnesota reported $11.1 billion in revenues earning the number two ranking again this year.
- TOPCO Associates LLC, headquartered in Skokie, Illinois reported $10.4 billion in revenue and holds the number three spot.
- Wakefern, based in Elizabeth, New Jersey reported $9.5 billion in revenue and the number fifth ranking.
- Hardware & Lumber:
- ACE Hardware, based in Oakbrook, Illinois earned $3.5 billion in revenue and came in at number 11 on the list.
- Do it Best, Corp., located in Fort Wayne, Indiana placed 18th this year with a reported $2.3 billion in revenues.
- Agribank, FSB, headquartered in Saint Paul, Minnesota had revenues of $4 billion and remained in the eighth spot on the list.
- Navy Federal Credit Union, headquartered in Merrifield, Virginia, earned $3.1 billion in revenues and is 14th on the list.
- HealthPartners, Inc., located in South Bloomington, Minnesota remained 10th on this year’s list with $3.6 billion in revenue.
- Group Health Cooperative, headquartered in Seattle, Washington, reported $3.2 billion in revenues, earning it the 13th place ranking.
- Energy & Communications:
- National Cable Television Cooperative, Inc., from Lenexa, Kansas came in at number 19 on the list, with $2.1 billion in revenues.
- Basin Electric Power Cooperative, located in Bismarck, North Dakota earned the 29th position with a reported $1.5 billion in revenue in 2010.
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 firstname.lastname@example.org. For more information on cooperatives visit www.go.coop.
NCB is dedicated to strengthening communities nationwide through the delivery of banking and financial services, complemented by a special focus on cooperative expansion and economic development. Headquartered in Washington, DC, the Bank has offices in Alaska, California, New York, Ohio and Virginia. To learn more, visit www.ncb.coop.
The NCB Financial Group consists of the Congressionally-chartered National Consumer Cooperative Bank (NCCB) and NCB, FSB, a federally insured savings bank wholly owned by NCCB. The NCB Financial Group provides financial products and services for the nation's cooperatives, their members, and socially responsible organizations. The NCB Financial Group also works in a strategic alliance with NCB Capital Impact, a non-profit Community Development Financial Institution created under the same act of Congress as NCCB with particular focus on impacting low and moderate income communities.