For the past 30 years, the National Cooperative Bank (NCB) has released the annual NCB Co-op 100, highlighting America’s top 100 Cooperatives. In 2019, these member-owned, member-controlled businesses generated revenues of $228.2 billion. Many of these cooperatives that appear on the list are household names and known throughout the world. Cooperatives employ millions of people, pay taxes and give back to their communities. They are organized under bylaws and articles of incorporation. They provide valuable products and services, trade in the global markets and deal with competition. While cooperatives may offer similar goods and services as publicly traded firms, they use a distinctly different business model. Co-ops operate for the benefit of their member-owners and communities. Having a vested interest in the co-op fosters a natural closeness and accountability between owners/members and management. This year, in coordination with National Co-op Month, we highlight how cooperatives are addressing their obligations to create diverse, equitable and inclusive workplaces and boards.
The following are the top revenue producers in 2019 for the NCB Co-op 100's main sectors:
Agriculture:
- CHS Inc., based in Inver Grove Heights, Minnesota reported $31.9 billion in revenues in 2019 and maintained its first place position on the NCB Co-op 100® list.
- Dairy Farmers of America., based in Kansas City, Missouri reported $15.9 billion in revenues, earning the number two ranking this year.
Grocery:
- Wakefern Food Corporation/ Shoprite, based in Keasbey, New Jersey reported $13.1 billion in revenue, earning the fourth ranking again this year.
- Associated Wholesale Grocers, Inc., based in Kansas City, Kansas reported revenue of $9.7 billion and earned the fifth position on the list.
Hardware & Lumber:
- ACE Hardware Corp., based in Oak Brook, Illinois earned $6.1 billion in revenue and came in at number nine on the list.
- Do-it-Best Corp., located in Fort Wayne, Indiana earned the 12th place on the list, with $3.5 billion reported in revenue.
Finance:
- Navy Federal Credit Union, headquartered in Merrifield, Virginia, earned $7.9 billion in revenues and is number seven on the list.
- CoBank, headquartered in Greenwood Village, Colorado earned $4.7 billion and came in 10th on the list.
Healthcare:
- HealthPartners Inc., located in Bloomington, Minnesota earned $7.3 billion in revenue and is eighth on the list.
Energy & Communications:
- Basin Electric Power Cooperative, located in Bismarck, North Dakota earned the 17th position with a reported $2.3 billion in revenue in 2019.
- Oglethorpe Power Corporation, located in Tucker, Georgia earned the 32nd position with reported revenue of $1.4 billion in 2019.
While the companies and rankings change each year, 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.
As a long-time advocate for cooperatives, NCB’s mission is 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.
View the entire Co-op 100 Report.
