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The NCB Co-op 100 Reports Nation’s Top Producing Cooperatives with Revenues Totaling $226.4 Billion in 2012

Annual Report Highlights Success of Country’s Cooperative Business Sector  

Washington, DC (October 22, 2013) — Today, National Cooperative Bank (NCB), known for providing banking 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 2012, these businesses posted revenue totaling $226.4 billion, a five percent increase from 2011.  The NCB Co-op 100 still remains the only annual report of its kind to track the profits and success of cooperative businesses in the United States.   

  “The NCB Co-op 100 is a great reminder of the substantial impact and important role cooperative businesses play in our national economy across every sector. As we continue to see improvements in the market, there is an increase in the formation of new cooperatives in urban, suburban and rural setting—offering competitive goods and services to meet the needs of these communities,” said Charles E. Snyder, President and CEO of NCB. “As a socially responsible financial institution, created to address the needs of our nation’s cooperatives, we are proud of our role in supporting the growth of these organizations, while also giving back to the communities they serve.” 

      The following are the top revenue producers in 2012 for the NCB Co-op 100’s main sectors:  

Agriculture: 

CHS Inc., based in Saint Paul, Minnesota reported $40.6 billion in revenues in 2012 and maintained its first place position on the NCB Co-op 100 list. 

Land O’ Lakes, also based in Saint Paul, Minnesota reported $14.1 billion in revenues earning the number two ranking this year.  

Grocery: 

Wakefern Food Corp, based in Keasbey, New Jersey reported $11 billion in revenue and the number fourth ranking.    

Associated Wholesale Grocers, Inc., based in Kansas City, Kansas reported revenue of $7.8 billion and remained at the sixth spot on the list.  

Hardware & Lumber: 

ACE Hardware, based in Oakbrook, Illinois earned $3.8 billion in revenue and came in at number ten on the list.  

Do it Best, Corp., located in Fort Wayne, Indiana placed 15th this year with a reported $2.6 billion in revenues. 

Finance:  

Navy Federal Credit Union, headquartered in Merrifield, Virginia, earned $3.6 billion in revenues and came in the 12th spot in 2012.   

CoBank headquartered in Greenwood, CO, earned $2.1 billion and came in 20th on the list.  

Healthcare: 

HealthPartners, Inc., located in South Bloomington, Minnesota moved to the ninth spot on this year’s list with $3.9 billion in revenue.   

Group Health Cooperative, headquartered in Seattle, Washington, reported $3.6 billion in revenues and remained 13th on the list.   

Energy & Communications: 

National Cooperative Refinery Association, from McPherson, Kansas came in at number eight on the list, with $4.0 billion in revenues.  

Basin Electric Power Cooperative, located in Bismarck, North Dakota earned the 24th position with a reported $1.9 billion in revenue in 2012.  

      While the companies and rankings change yearly, the cooperative sector continues to advance, playing an increasingly influential role in the global economy. Released annually in October during National Co-op Month, the NCB Co-op 100 is another way the Bank strives to educate and promote the importance of this sector. 

      As long-time advocates for cooperatives, NCB’s mission is to provide critical financing to promote the growth and expansion of these 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 are continually hard at work on getting the message out on the advantages of member-owned organizations.  

      Cooperatives exist in a cross-section of sectors, including agriculture, grocery, hardware and lumber, finance, energy and communications, housing, and recreation, among others. These cooperatives provide over two million jobs and create more than $75 billion in annual wages with revenue of nearly $650 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 Executive Vice President, is available to answer questions regarding cooperatives and the NCB Co-op 100, and can be reached at (703) 302- 1955 or bsilver@ncb.coop.