ALEXANDRIA, Va. —The National Cooperative Bank has released its annual NCB Co-op 100, which lists the nation’s top 100 revenue-earning cooperative businesses.
In 2016, these businesses posted revenue totaling approximately $208 billion, according the NCB.
The list is being released in conjunction with International Co-op Month, the theme of which this year is “Cooperatives Commit.” In addition to ranking the top 100 co-ops by revenue, the report also highlights the many ways co-ops commit to their members, sustainability, education, impact, kindness and their community.
Not too surprisingly, in the category of Finance, Navy Federal led the way in revenue. Merrifield, Va.-based Navy Federal Credit Union earned $5.4 billion in revenues and overall is number eight on the list. CoBank headquartered in Greenwood Village, Colo., was ranked second in the Finance listing, having earned $2.8 billion. It came in 14th on the list.
“The economic impact of cooperatives is critical to our economy”, stated 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 its bringing fresh local food through a food co-op or affordable homeownership through a housing cooperative, cooperatives help strengthen communities.”
Other top revenue producers among co-ops in 2016 according to the NCB Co-op 100's main sectors:
Agriculture:
- CHS Inc., based in Saint Paul, Minn., reported $30.3 billion in revenues in 2016 and maintained its first place position on the NCB Co-op 100 list
- Dairy Farmers of America, based in Kansas City, Mo., reported $13.5 billion in revenues, earning the number two ranking
Grocery:
- Wakefern Food Corporation/ Shoprite, based in Keasbey, N.J., reported $12.8 billion in revenue, earning the fourth ranking this year
- Associated Wholesale Grocers, Inc., based in Kansas City, Kans., reported revenue of $9.2 billion and earned the fifth position on the list
Hardware & Lumber:
- ACE Hardware, based in Oak Brook, Ill., earned $5.1 billion in revenue and came in at number nine on the list
- Do-it-Best Corp., located in Fort Wayne, Ind., earned the 12th place on the list, with $3.0 billion reported in revenue
Healthcare:
- HealthPartners, Inc., located in Bloomington, Minn., earned $6.0 billion in revenue and is seventh on the list
Energy & Communications:
- Basin Electric Power Cooperative, located in Bismarck, N.D., earned the 18th position with a reported $2.0 billion in revenue in 2016
- Oglethorpe Power Corporation, located in Tucker, Ga., earned the 27th position with reported revenue of $1.5 billion in 2016.