WASHINGTON — NCB, which provides financial solutions tailored to meet the needs of cooperatives, recently 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.
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 top two revenue producers in 2010 for main sectors are:
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 and 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 and 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.
The entire NCB Co-op 100 report is available at www.coop100.coop.