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| October is National Co-op Month |
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In your publication, you frequently champion the causes that are good for agriculture. Please use your platform to remind readers that October is National Co-op Month. As a co-op member and customer, I want growers, especially younger growers, to know that the cooperative business model has a lot to offer them and their communities.
Farmer co-ops have been serving Hoosiers with inputs and services since the 1920s. According to the National Cooperative Business Assoc., Americans hold more than 350 million co-op memberships. The top 100 co-ops generate $150 billion annually in revenues.
NCBA estimates the co-op impact from patronage dividends and refunds to be $79 billion. (Patronage is the annual return paid to members based on the business they do with the co-op. Equity is the “credit” a member builds over time, and is ultimately redeemed for cash.)
To be successful, today’s co-op is more aggressive, competitive, responsive and innovative than ever before. Strong co-op partnerships are being formed now to bring even more resources home, while still retaining the local representation, ownership and control of a “small” supplier. A strong co-op not only delivers products and services, but is also a major local employer, taxpayer and agricultural advocate in the community. Plus, as NCBA pointed out, a well managed co-op returns significant patronage right back into the local community it serves.
I can attest that the co-op I joined years ago is within a partnership which has returned more than $14.6 million in local patronage and $3.6 million in equity redemption in just the last three years. Our co-op has also invested more than $63,000 in that same time period in academic scholarships for member children and grandchildren.
Most Americans agree that farmer-owned co-ops help farmers succeed, and strengthen rural communities. Please ask your readers if they are members of their local co-op. If not, they could be leaving money on the table in terms of patronage and equity earned based on the business they are already doing with their co-op.
If you are a member, let others know of the benefits and services provided. Also, be active, serve as a director, and be a vocal supporter for the cooperative system. Rural Hoosiers have a rich tradition of standing together and helping one another, and your local cooperative is proud to be part of that heritage. Consider joining a co-op today. Thank you for your efforts.
Greg Gore
Gore Farms
Monrovia Ind. |
| 10/6/2010 |
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