Since 1930, America has observed National Co-op month in October and what better way to celebrate the strength and vigor of cooperatives in the United States than to read a new USDA report, which notes that farmer, rancher and fishery cooperatives posted record sales and income in 2011, surpassing the previous record sales year of 2008 by $10 billion. Not only that, cooperatives bested the old income record by $500 million. Net income before taxes for all agricultural co-ops was a record $5.4 billion, eclipsing the previous high set in 2008. Net income was up more than 25 percent, or $1 billion, from 2010. Read more »
Posts tagged: St. Peter Food Co-op
The St. Peter Food Co-op has been a valuable asset to the south central region of Minnesota for over 31 years. I realized just how valuable as I sat down to eat lunch at the co-op recently.
General manager Margo O’Brien had just given us a tour and hosted an event to publicly recognize the USDA’s role in financing the new facility. After signing the closing documents on a loan guarantee through nearby Wells Federal Bank and Rural Development’s Business & Industry loan guarantee program, it was time for lunch. Read more »