October is Coop Month

Oct 01, 2021


coop-month
LINCOLN, NE—A proclamation recognizing October as Cooperative Month was signed by Governor Pete Ricketts on September 25, 2021.

Cooperative Month has been celebrated nationwide and in Nebraska for many years to call attention to the economic benefits which come from cooperative businesses. The proclamation signed by the Governor recognizes Nebraska’s farmer-owned cooperatives and rural electric and telephone cooperatives and the important role that cooperatives play in the lives of many Nebraskans.

In 2021 rural agricultural cooperatives served the needs of approximately 64,000 farmer and rancher owners. With a combined payroll of over $370 million, these cooperatives directly employed 5,300 Nebraskans and maintained locations in 401 rural communities across the state.

Last year, Nebraska’s agricultural cooperatives made cash patronage and cash equity redemption payments to their members in the amount of $50.7 million and at the same time reinvested another $157 million in property, plant and equipment to serve their members’ needs. All of this economic activity arose from total statewide revenues of approximately $6.3 billion.

Economic benefits of cooperatives do not end with their members. Rural communities were supported by $18 million of property tax paid by agricultural cooperatives. In addition, Nebraska’s farmer-owned cooperatives, governed by their farmer owners, contributed $1.8 million to local fire departments, local school and youth organizations, local and statewide FFA and 4-H chapters, and provided numerous scholarships to help rural Nebraska students continue their educations.

“Every October, Nebraskans have the opportunity to learn about the important role Nebraska’s cooperative system plays in the economic well-being of rural Nebraska. Nebraska’s farmer-owned cooperatives, in addition to providing direct economic benefits to their farmer members, offer excellent employment opportunities throughout rural Nebraska. Farmers supporting the communities in which they live by doing business through their respective cooperatives demonstrates the values and principles that make cooperatives a unique business structure," said Rocky Weber, President & General Counsel of the Nebraska Cooperative Council. "Governor Ricketts’ proclamation of October 2021 as Cooperative Month in Nebraska is a welcome acknowledgment of how important Nebraska’s cooperative system is to the economic fabric of all Nebraska.”
 

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