The NCB Co-op 100 Reports Top Producing Cooperatives with Revenues of Nearly $194 Billion
WASHINGTON--(BUSINESS WIRE)--Today, NCB, known for providing creative financial solutions tailored to meet the needs of cooperatives nationwide, released its annual NCB Co-op 100, listing the nation’s top 100 revenue-earning cooperative businesses. In 2010, these businesses posted revenues totaling approximately $193.8 billion. This year the NCB Co-op 100 marks its 20th anniversary, and still remains the only annual report of its kind to track the profits and success of cooperative businesses in the United States.
“The boom of cooperative organizations and the key role they play in both our national and global economy, is clearly evidenced in the growth and expansion highlighted in this year’s report”
“The boom of cooperative organizations and the key role they play in both our national and global economy, is clearly evidenced in the growth and expansion highlighted in this year’s report,” said Charles E. Snyder, President and CEO of NCB. “As a cooperative business ourselves, we are proud to support these efforts and participate in the United Nations General Assembly declaration of 2012 as the International Year of the Cooperative, to educate the public on the benefits of cooperatives. Our report is just one of the many ways we work to inform the public on the advantages of cooperatives in all fields of enterprise.”
Released annually in October during National Co-op Month, the NCB Co-op 100 was created by the Bank to educate and promote the importance of the cooperative sector. This year NCB is proud to be a vocal supporter of 2012 International Year of Cooperatives initiative. The global campaign led by the UN, with the official slogan “Cooperative Enterprises Build a Better World,” is focused on educating and informing the public of the contributions cooperatives make to socio-economic development.
Cooperatives exist in a cross-section of sectors, including agriculture, grocery, hardware and lumber, finance, energy and communications, housing, and recreation among others. These cooperatives provide over 850,000 jobs and create more than $74 billion in annual wages with revenue of nearly $500 billion.
Although similar to other business models, a cooperative has several unique features. It is owned and controlled by its members who have joined together to use the cooperative’s goods, services and facilities. A board of directors, elected by the membership, sets the cooperative’s policies and procedures. By pooling resources, members can leverage their shared power to buy, sell, market, or bargain as one group, achieving economies of scale and sharing in any profits generated. In addition, communities benefit both socially and fiscally by the cooperatives’ ability to access and deliver goods and services from across the nation.
The entire NCB Co-op 100 report is available at www.coop100.coop. Barry Silver, NCB Managing Director, is available for questions at (703) 302- 1955 or email@example.com. For more information on cooperatives visit www.go.coop.
NCB is dedicated to strengthening communities nationwide through the delivery of banking and financial services, complemented by a special focus on cooperative expansion and economic development. Headquartered in Washington, DC, the Bank has offices in Alaska, California, New York, Ohio and Virginia. To learn more, visit www.ncb.coop.
Posted: October 18, 2011