ARLINGTON, Va. (11/3/15)--The National Cooperative Bank (NCB) released the annual “NCB Co-op 100” this week, a report that lists the top revenue-generating cooperatives in the United States.
In addition to announcing the Top 100 earners, which included three credit unions, the report tracks revenue for cooperatives nationwide. The NCB found that cooperatives recorded a 4.1% increase in overall revenue in 2014 to $243.2 billion.
Mike Mercer, president/CEO of Georgia Credit Union Affiliates and NCB board chair, told News Now that credit unions play a critical role in the country’s overarching cooperative landscape.
“The National Cooperative Bank makes substantial contributions to the success of cooperative businesses throughout the United States,” Mercer said. “In recent years, NCB has developed numerous relationships with credit unions by providing lending and correspondent solutions.”
The NCB said it strives to provide critical financing to support the growth and expansion of cooperative businesses. It also funnels hundreds of millions of dollars to support organizations serving underserved communities.
Those found on the Top 100 list, “are continually hard at work on getting the message out on the advantages of member-owned organizations,” the NCB said.
“Cooperatives build a better world,” added Charles Snyder, NCB president/CEO. “The business model, seen in major industries across the United States, from local food to finance, helps strengthen communities and empower people. The financial and social impact of co-ops is very impressive, but we must work together to increase our recognition for cooperatives worldwide.”