Great River Energy came in at No. 57 in National Cooperative Bank’s recently released NCB 100® listing of the nation’s top 100 revenue-earning cooperative businesses.
This annual list showcases the advancement of cooperatives as they play an increasingly influential role in the national and global economy. While similar in some respects to other business models, cooperatives are owned and controlled by their members who, together, use the co-op’s goods, services and facilities. Today, one in three Americans is a member of a co-op.
Cooperatives exist in a cross-section of sectors including agriculture, grocery, hardware and lumber, finance, energy and communications, housing, and recreation. These co-ops, including Great River Energy, provide over 2 million jobs and create more than $75 billion in annual wages with revenue of nearly $650 billion.
The current list shows posted revenue totaling $226.1 billion from the top 100 cooperatives in 2020. Great River Energy and its 28 member-owner cooperatives collectively record annual revenues of approximately $2.5 billion.
“Co-ops operate for the benefit of their member-owners and communities,” said Charles E. Snyder, chief executive officer at National Cooperative Bank, which publishes the NCB 100 list. “Having a vested interest in the community fosters a natural closeness and accountability between owners/members and management. In 2020, co-ops across the country came together and supported their communities by continuing to stay open to serve their members.”