US top 100 co-ops had joint turnover of US$ 255bln in 2021, report says
WASHINGTON-The top 100 co-ops in the US had joint turnover of US$ 255 billion in 2021, according to a report from National Cooperative Bank [NCB], marking an increase of 11 percent from 2020.
NCB has been producing its Co-op 100 report every October since 1991, listing the biggest 100 co-ops in the US by turnover. Last year’s report showed that in 2020, the USA’s largest co-operatives had a joint turnover of US$ 226bln.
The top co-ops came from the agricultural sector, with CHS, Dairy Farmers of America and Land O’Lakes taking the top three places – unchanged from 2020. In 2021, agribusiness giant CHS reported revenues of US$ 38.4bln, Dairy Farmers of America US$ 19.3bln and Land O’Lakes dairy US$ 15.9bln.
Grocery co-ops Wakefern Food Shoprite and Associated Wholesale Grocers also held their 2020 places at fourth and fifth – Wakefern/Shoprite with revenues of US$ 11.7bln and Associated Wholesale Grocers with US$ 10.8bln.
Seventh on the list was hardware and lumber co-op ACE Hardware, with revenues of US$ 8.5bln.
In the finance sector, Navy Federal Credit Union placed eighth on the list with US$ 7.9bln. The next largest finance co-op on the list was CoBank at 16, with £3bln in revenues.
Healthcare was represented in the top ten by HealthPartners Inc., who brought in US$ 7.7bln in 2021.
The top electric co-op in 2021 was Basin Electric Power Cooperative with revenues of £2.6bln.
NCB’s president and chief executive officer, Casey Fannon, said: “Co-operatives employ millions of people, pay taxes and give back to their communities. They provide valuable products and services, trade in the global markets, and deal with competition.
“Under the theme “Co-ops Build Economic Power”, this year’s Co-op Month [October] is also a chance for us to communicate the economic power cooperatives have in the United States.
“Big or small, hardware or grocery, over 100 years or just emerging, co-ops make a difference in the lives of their members and the community. While co-ops vary in industries, what they all have in common is embracing the values and principles that make them truly unique.”
https://thecooperator.news/us-electric-co-ops-to-benefit-from-broadband-support/
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