National Cooperative Bank, known for providing banking solutions tailored to meet the needs of cooperatives and their members nationwide, released its annual NCB Co-op 100® earlier this month, listing the nation’s top 100 revenue-earning cooperative businesses. In 2022, these businesses posted revenue totaling $319 billion, a 25 percent increase from 2021. The NCB Co-op 100® remains the only annual report of its kind to track the profits and successes of cooperative businesses in the United States.
The following are the top revenue producers in 2022 for the NCB Co-op 100’s main sectors:
Agriculture
- CHS Inc., based in Inver Grove Heights, Minnesota reported $47.8 billion in revenue in 2022 and maintained its first-place position on the NCB Co-op 100® list.
- Dairy Farmers of America, based in Kansas City, Kansas reported $24.5 billion in revenue, earning the number two ranking again this year.
Grocery
- Associated Wholesale Grocers, Inc., based in Kansas City, Kansas reported revenue of $12.3 billion and earned the fifth position on the list.
- Wakefern Food Corporation/Shoprite, based in Keasbey, New Jersey reported $12.2 billion in revenue, earning the sixth-ranking this year.
Hardware & Lumber
- ACE Hardware Corp., based in Oak Brook, Illinois earned $9.2 billion in revenue and came in at number eight on the list.
- Do-it-Best Corp., located in Fort Wayne, Indiana earned 13th place on the list, with $5.5 billion reported in revenue.
Finance
- Navy Federal Credit Union, headquartered in Vienna, Virginia, earned $9.2 billion in revenue and is number seven on the list.
- CoBank, headquartered in Greenwood Village, Colorado earned $7.4 billion and came in 10th on the list.
Healthcare
- HealthPartners Inc., located in Bloomington, Minnesota earned $8.2 billion in revenue and is ninth on the list.
Energy & Communications
- Basin Electric Power Cooperative, located in Bismarck, North Dakota earned the 21st position with a reported $2.8 billion in revenue in 2022.
- Oglethorpe Power Corporation, located in Tucker, Georgia earned the 28th position with reported revenue of $2.1 billion in 2022.
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 to provide 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.