The National Cooperative Bank, known for providing banking solutions tailored to meet the needs of cooperatives nationwide, released its annual NCB Co-op 100® last month, listing the nation’s top 100 revenue-earning cooperative businesses. In 2015, these businesses posted revenue totaling approximately $223.8 billion. The NCB Co-op 100® remains the only annual report of its kind to track the profits and successes of cooperative businesses in the U.S.
“The economic impact of cooperatives is critical to our economy,” said Charles E. Snyder, President and CEO of National Cooperative Bank. “The cooperative business model can be seen in just about every industry across America, from local food to finance to housing and energy. Cooperatives remain a trusted, viable and successful business model. They create jobs and build community. Cooperatives Build a Better World. That’s not only something to be proud of—it’s just good business.”
The following are the top revenue producers in 2015 for the NCB Co-op 100’s main sectors:
- CHS Inc., based in Saint Paul, Minnesota reported $34.5 billion in revenues in 2015 and maintained its first place position on the NCB Co-op 100 list.
- Dairy Farmers of America, based in Kansas City, Missouri, reported $13.8 billion in revenues, earning the number three ranking this year.
- Wakefern Food Corporation/Shoprite, based in Keasbey, New Jersey reported $15.5 billion in revenue and earned the number two ranking.
- Associated Wholesale Grocers, Inc., based in Kansas City, Kansas reported revenue of $8.9 billion and moved to the fifth spot on the list.
Hardware & Lumber
- ACE Hardware, based in Oak Brook, Illinois earned $5 billion in revenue and came in at number eight on the list.
- Do it Best Corp., located in Fort Wayne, Indiana placed 14th again this year, with a reported $2.9 billion in revenues.
- Navy Federal Credit Union, headquartered in Vienna, Virginia, earned $4.7 billion in revenues and moved to number nine on the list.
- CoBank, headquartered in Greenwood Village, Colorado earned $2.3 billion and came in 17th on the list.
- HealthPartners, Inc., located in South Bloomington, Minnesota remained at the seventh spot on this year’s list with $5.7 billion in revenue.
- Group Health Cooperative, headquartered in Seattle, Washington, reported $3.6 billion in revenues and moved to 12th on the list.
Energy & Communications
- Basin Electric Power Cooperative, located in Bismarck, North Dakota earned the 19th position with a reported $2.1 billion in revenue in 2015.
- Oglethorpe Power Corporation, located in Tucker, Georgia earned the 35thpostion with a reported revenue of $1.3 billion in 2015.
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 National Cooperative 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. NCB and other cooperatives named on the NCB Co-op 100® list are continually hard at work on getting the message out on the advantages of member-owned organization.
Cooperatives exist in a cross-section of sectors, including agriculture, grocery, hardware and lumber, finance, energy and communications, housing and recreation, among others. These co-ops 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.
Click here to view the entire NCB Co-op 100 report.