WASHINGTON (10/23/13)--The National Cooperative Bank (NCB) Tuesday released its annual "NCB Co-op 100" report listing the nation's top 100 revenue-earning cooperative businesses, and ranked among them were three credit unions.
In this most recent report for 2012, cooperative businesses posted revenue totaling $226.4 billion, a 5% increase from the $215.6 billion reported in 2011, which itself was an 11% jump from 2010.
The three credit unions appearing in the top 100 list were $52 billion-asset Navy FCU, Merrifield, Va.; $25 billion-asset State Employees' CU, Raleigh, N.C.; and $15.5 billion-asset Pentagon FCU, Alexandria, Va.
Navy FCU reported 2012 revenues of $3.6 billion and placed 12th on the list, up a couple of ticks from 14th in 2011. State Employees' CU had revenues of $946 million, placing 60th on the list, down slightly from 52nd. And Pentagon FCU, with $717 in revenues, placed 82nd on the list, down a little from 76th last year.
Charles E. Snyder, president/CEO of NCB, said his organization--a cooperative as its name states--releases its annual report during National Co-op Month as another way it "strives to educate and promote the importance of (the cooperative) sector."
"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," he said, adding, "Whether it is bringing fresh, local food through a food co-op, affordable financial services through a credit union or affordable homeownership through a housing cooperative, cooperatives help strengthen communities."
Use the resource link to access the NCB report.