The US National Cooperative Bank (NCB) has released its annual Co-op 100 report, ranking the country’s top 100 revenue-earning co-ops – which, in 2024, reported a combined $323bn in revenue.
Agri co-ops took the top three places, with the number one place retained by Minnesota-based CHS Inc, which reported US$39.3bn in revenue.
Second place went to Kansas-based Dairy Farmers of America, which reported $23bn in revenue, with another dairy co-op, Land O’Lakes, third with $16.2bn.
Finance co-ops also had a strong showing on the list. Fourth on the list was Navy Federal Credit Union, headquartered in Virginia, reported $14.5bn in revenue, followed by Colorado-based CoBank, which earned $13.2bn.
The rest of the top ten were New Jersey-based grocer Wakefern Food Corp./Shoprite, $12.8bn; Illinois-based agri supplier Growmark, $12.2bn; Minnesota-based AgriBank, $12.1bn; Missouri-based Associated Wholesale Grocers, $12.1bn; and Illinois-based Ace Hardware, $9.5bn.
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Top-ranking energy & communications co-ops were North Dakota’s Basin Electric Power Cooperative, at 21 with $2.8bn in revenue. Oglethorpe Power Corporation, in Georgia, comes in at 30 with $2.2bn.
Health Partners Inc, based in Minnesota, came 11th with $9.0bn in revenue.
Top ranking recreation co-op was outdoor retailer REI, based in Washington, which came in at 17 after reporting $3.5bn.
“The NCB Co-op 100 highlights the strength, diversity, and impact of co-operative businesses across the United States,” said Casey Fannon, NCB president and CEO. “These organisations demonstrate how co-operative principles continue to drive economic success while supporting communities nationwide.”
NCB works to provide finance for the growth and expansion of co-operative businesses, and has deployed hundreds of millions of dollars to underserved communities and co-operative development initiatives.
