Doing Our Part
October is Co-op Month, and this year’s national theme is “Build Back for Impact.” The “Build Back” part implies that somehow we went backward and are now rebuilding, which is not the case at United cooperative. Therefore, I am modifying the theme to be “Building for Impact.” Your cooperative has been on a continuous building spree for more than 37 years. From $7 million in sales in 1984 when CEO David Cramer took the helm to what looks to be nearly $1 Billion in sales by the end of 2021, we have been “Building for Impact” the whole time. Through all this growth, United Cooperative has strived to focus on our future while not forgetting our past. In his article, David talked about the many building projects we had in 2021 that will position us for success in the future, so I wanted to share our Equity Redemptions, which continue to honor our past. This year, we will again retire past years equity from United Cooperative and the other cooperatives that have become part of the United family. This year we are retiring equity as follows:
- All Equity from 2011 $13.2 million
- Previous Merger Agreements $700,000
- Estates and Age 77 $1.1 Million
- Total Equity paid out in Oct. 2021 $15.0 million
The “IMPACT” part of this month’s theme is inherent in everything we do. Our physical building projects IMPACT the products and services we offer our customers. Our Equity Redemptions and Cash Patronage paid annually IMPACT the economies of our members and their communities. More than $41.6 million in wages and health and wellness benefits “IMPACT” more than 750 employees and their families. Our $160,000 in Scholarships and Community Giving IMPACT our future workforce and leaders, our communities, and agriculture in our trade area. The list could go on and on, but you get the point. Since 1936 United Cooperative has been Building for Impact before it was part of a national theme. Thank you for your business, and have a safe fall.
Karl Beth
Vice President and Chief Operating Officer
