Happy National Cooperative Month! Nationally observed since 1964, Co-op Month is a chance to acknowledge and celebrate the contributions made by those who work in or benefit from co-ops. Learn more about National Co-Op Month in today’s post!
Why Celebrate National Co-Op Month?
The tradition of National Co-Op Month started way back in 1964, when the U.S. Secretary of Agriculture Orville Freeman, a former Minnesota governor, proclaimed October Co-op Month.
This month is an annual opportunity to raise awareness of a trusted, proven way to do business and build communities. Thriving agricultural cooperatives such as Agfinity, enable farmers to access products and supplies at a cost-competitive price, while receiving services that are second to none.
When a farmer works on their own it’s typically hard to influence price sets, but a cooperative system shakes this up. By farmers working together, the Cooperative reduces overall price of supplies while providing quality products and investing in local communities.
Co-Op’s by the Numbers
Agricultural cooperatives have made an impact on local and global food systems for generations. The beauty of a farmer-owned cooperative is that decisions are made together and profits are shared among all members, rather than outside investors. Income from farmer-owned co-ops is reinvested into the business or returned to the members. In rural communities, farm co-ops are essential to support local communities and their economies.
Across the US, cooperatives have an estimated 350 million members according to the USDA. Agriculture co-ops support and employ more than 187,000 people in roughly 8,800 locations. Even more astounding is that farmer cooperatives made $96.3 billion in assets, with $44.4 billion going back to the farmers in farmer-member equity.
Taking a closer look at Agfinity, we currently employ a total of 200 Colorado residents who proudly live and work in the communities of Brighton, Eaton, Henderson, Greeley, Loveland, Lucerne, and Mead. Through wise business investments, the Cooperative was able to return $2,959,951 in patronage and equity retirement for 2019.
Community Driven
Co-ops are truly for the community, by the community. Since 2020, Agfinity has invested $75,000 towards students pursuing higher education through the Stalwart Agfinity Scholarship program. In addition, the Cooperative donated $50,000 towards county fairs, educational programs, and other non-profit events.
Agfinity also hosts a variety of gatherings every year from Agfinity Appreciation lunches, Answer Plots, and our Annual Meeting. If you stop by, there’s a good chance you’ll run into someone you know.
Co-Ops & Diversity, Equity, and Inclusion
It’s important to highlight how Agfinity strives to create memberships that reflect our community in creating diverse, equitable, and inclusive workplaces and boards. Co-ops are also a great place for participation and advancement.
Celebrate National Co-Op Month in October with Agfinity by simply thanking the hard working farmers, ranchers, and cooperative team members who work together to create a thriving and prosperous Colorado Agriculture economy.
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