Farmland tops Co-op 100 list - Newsline - National Cooperative Bank issues lists of best performing co-ops in 2001 - Brief Article

Farmland Industries, with revenue of $11.8 billion, was the nation's largest cooperative in 2001, according the annual Co-op 100 report issued by the National Cooperative Bank (NCB), Washington, D.C. Farmland, which is currently seeking to restructure its business under a Chapter 11 Bankruptcy Court filing, was one of 40 agricultural cooperatives to make the Co-op 100 list. Those 40 ag co-ops had aggregate 2001 revenue of $60 billion, or just under 60 percent of the nation's total ag co-op business volume (see related item, page 32).

The list also includes 20 grocery coops with a total of $28.9 billion in 2001 revenue, 13 finance co-ops with $11.6 billion in revenue, 6 hardware and lumber co-ops with $8.8 billion of revenue, 14 energy and telecommunications co-ops with $8.1 billion of revenue and seven miscellaneous co-ops with $5.9 billion in revenue.

Three other agricultural cooperatives--Dairy Farmers of America, CHS Cooperatives and Land O'Lakes--are included in the top 10. For the second consecutive year, cooperatives in the list earned more than $130 billion in combined revenue, demonstrating the important role cooperatives play in the nation's economy.

"When I look at the revenues reflected in this year's NCB Co-op 100, I can't help but be impressed by the growth of U.S. cooperatives," said Charles Snyder, NCB president. "From their beginnings more than 100 years ago, American cooperatives have not only survived, but also flourished. They have prevailed through adversity and economic downturns and have brought economic stability and prosperity to millions of people," Snyder said.

The entire list and related information is available on the Internet at www.co-opl00.coop, or via e-mail at marcom@ncb.coop, or fax at 202-336-7730.

COPYRIGHT 2002 U.S. Department of Agriculture, Rural Business - Cooperative Service
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