October is Coop Month
This year’s national theme is “Co-ops Build Economic Power.” In a year where the value of everyone’s retirement funds has plummeted and the national economy has declined into the recession zone, building economic power is a welcome theme. For United Cooperative, building this economic power is not a new theme. Our continual focus on growth and profitability allows us to weather these tough economic times and buffer the wild supply chain issues and economic uncertainties the rest of the world continues to deal with for our customers. Your cooperative works through these supply challenges, holding true to our tagline, “Rely on Us.”
October is also the month in which United Cooperative retires member equity. This year we continue that tradition by sending out thousands of equity checks to our members totaling over $12 million. This will bring the total equity paid back to our members in 2022, after paying age 77 and estate requests, to just over $13 million.
October’s Equity Retirement checks continue United Cooperative’s commitment to returning cash to our members and honoring our merger commitments. The more than $12 million in checks breaks down as follows:
All Equity from 2012 $11.4 million
Previous Merger Agreements $808,000
Total Equity paid out in Oct. 2022 $12.2 Million
This cash, combined with April’s cash patronage, our fixed asset investments during 2022, the wage and benefit package paid to our employees, and the scholarships and charitable donations we make, indeed do “Build Economic Power” in our trade area. Unlike companies that move operations to other states or countries when the going gets tough, United Cooperative is rooted right here in our trade territory, serving our members since 1936. Though none of us can predict what the economic future holds, I can predict that United Cooperative will continue to work hard every day to earn your business, honor our commitments, and continue to “ Build Economic Power” for our members for years to come.
Thank you for your business, and have a safe and productive harvest season.
