The USA’s largest co-ops by turnover had total revenues of $222.2bn in 2018, according to a report by the National Co-operative Bank.
Published every year in October during the USA’s Co-op Month, NCB Co-op 100 provides an overview of the USA’s co-operative sector.
The report confirms co-ops exist across various sectors, from agriculture, grocery, hardware and lumber, finance, energy and communications, to housing and recreation. In 2018 the top 100 co-ops in the USA posted revenue totalling approximately $222.2bn.
At the top of the rankings is CHS Inc, an agri co-op with revenues of $32.7bn, followed by Land O’Lakes, another agri giant with a revenue of $14.9bn, and Dairy Farmers of America with 13.6bn. Retailers Wakefern Food Corp and Associated Wholesale Grocers are next on the list, with revenues $13.1bn and $9.6bn.
Insurer HealthPartners Inc came seventh with $7bn in revenue.
The finance sector was represented in the top 10 by Navy Federal Credit Union, which earned $6.9bn, at number 8, and CoBank, which earned $4.3bn and came 10th.
Electric co-ops also fared well, with Basin Electric Power Cooperative, at 16 with a reported revenue of $2.4bn, and Oglethorpe Power Corporation, at 29 with $1.5bn.
“The theme for Co-op Month this year is Co-ops: By the Community, For the Community,” said Charles E. Snyder, president and CEO of National Cooperative Bank. “Co-operatives are unique because they 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 owner-members and management. We know this is a successful and sustainable business practice, since co-ops have been doing it for 175 years.”