By Anca Voinea
The National Cooperative Bank (NCB) in the USA has published its annual Co-op 100 report, which lists the nation’s top 100 revenue-earning co-operative businesses. Published in October during the USA’s Co-op Month, NCB Co-op 100 provides an overview of the USA’s co-operative sector.
According to the report, in 2019 these businesses posted revenue totalling US$228.2bn, a 0.25% increase from US222.2bn in the previous year.
The top three revenue co-op businesses in 2019 were all from the agricultural sector: CHS Inc based in Inver Grove Heights, Minnesota with US31.9bn, Dairy Farmers of America based in Kansas City, Missouri with US$15.8bn, Land O’Lakes in Saint Paul, Minnesota with US$13.9bn. Grocery businesses Wakefern Food Corporation/Shoprite (US$13bn) based in Keasbey, New Jersey and Associated Wholesale Grocers Inc (US$9.7bn) based in Kansas City, Kansas came fourth and fifth in the list.
Representing the hardware and lumber sector, ACE Hardware Corp., based in Oak Brook, Illinois earned US$6.1 billion in revenue and came in at number nine on the list. Do-it-Best Corp., located in Fort Wayne, Indiana earned the 12th place on the list, with $3.5 billion reported in revenue.
Financial co-ops also made the top 10 – Navy Federal Credit Union, headquartered in Merrifield, Virginia, earned US$7.9bn in revenues and is number seven on the list. CoBank, headquartered in Greenwood Village, Colorado earned US$4.7bn and came in 10th on the list.
Healthcare provided HealthPartners Inc., located in Bloomington, Minnesota earned US$7.3bn in revenue and is eighth on the list.
In the energy sector the top revenue co-ops were Basin Electric Power Cooperative, located in Bismarck, North Dakota, which earned the 17th position with a reported US$2.3bn in revenue in 2019 and Oglethorpe Power Corporation, in Tucker, Georgia, which earned the 32nd position with reported revenue of $1.4 billion in 2019.
