ARLINGTON, Va.–A new report listing the top 100 cooperative businesses in the U.S. as ranked by annual revenue in the U.S. includes five credit unions.
The National Cooperative Bank’s annual NCB Co-op 100 ranks cooperatives according to revenue based on 2017 figures. In all, during 2017, the top 100 co-ops posted revenue totaling approximately $214.4 billion, the NCB said.
Surprising no one, Navy Federal Credit Union led the way among credit unions on the list, ranked #8 overall with $6 billion in revenue. Also appearing on the list are State Employees CU in North Carolina at #31($1.4-billion in revenue), PenFed at #54 ($1 billion), BECU at #76 ($737 million) and Schools First FCU at #97 ($524 million).
CHS, Inc., an agriculture-based co-op based in Inver Grove Heights, Minn., was ranked #1 by revenue at $31.9 billion in revenue.
“The economic impact of cooperatives is critical to our economy,” said Charles E. Snyder, president and CEO of National Cooperative Bank. “Cooperatives can be seen in just about every industry across America, including local food, finance, housing and energy. Whether it is bringing affordable homeownership through a housing cooperative, fresh local food through a food co-op or electricity through a rural electric co-op, cooperatives strengthen communities.”
This year’s theme for Co-op Month is “Cooperatives See the Future.” In addition to ranking the top 100 co-ops by revenue, the report also highlights how co-ops see their future-to better serve their members and the community.
View the entire NCB Co-op 100 report.