The NCB Co-op 100 Reports Nation’s Top Producing CooperativesOctober 22nd, 2013 | Category: Industry News
National Cooperative Bank (NCB) has released its annual NCB Co-op 100, listing the nation’s top 100 revenue-earning cooperative businesses. In 2012, these businesses posted revenue totaling $226.4 billion, a five-percent increase from 2011. ACE Hardware, based in Oakbrook, Ill., earned $3.8 billion in revenue and came in at number 10 on the list. Do it Best, Corp., located in Fort Wayne, Ind., placed 15th this year with a reported $2.6 billion in revenues.
“The NCB Co-op 100 is a great reminder of the substantial impact and important role cooperative businesses play in our national economy across every sector. As we continue to see improvements in the market, there is an increase in the formation of new cooperatives in urban, suburban and rural setting—offering competitive goods and services to meet the needs of these communities,” said Charles E. Snyder, President and CEO of NCB. “As a socially responsible financial institution, created to address the needs of our nation’s cooperatives, we are proud of our role in supporting the growth of these organizations, while also giving back to the communities they serve.”
While the companies and rankings change yearly, according to NCB, the cooperative sector continues to advance, playing an increasingly influential role in the global economy. Released annually in October during National Co-op Month, the NCB Co-op 100 is one way the NCB says it strives to educate and promote the importance of this sector.