Louisville, KY, September 30, 2009  – You know the old adage “everyone gets a piece of the pie.” In a cooperative, this adage is more than just an interesting observation. It’s a statement of fact. In a cooperative, everyone who is a member of that cooperative has an equal voice in how it is run. That’s because cooperatives are owned and democratically controlled by the people who use their services or buy their goods. At Farm Credit Services of Mid-America, a $15.5 billion agriculture lending cooperative, that voice is heard through a member-elected board of directors.

 

Not to mention that cooperative businesses – like Farm Credit - generate hundreds of thousands of jobs and billions in income for their communities while also supporting local causes ranging from education to the environment, according to a series of case studies compiled to help mark October as National Co-op Month.

The 20-plus pages of case studies, put together by the National Co-op Month Planning Committee, show that co-ops take a back seat to no other sector when it comes to making economic and charitable contributions to their communities.

 

Nearly 3,000 farmer cooperatives, for example, account for as many as 300,000 jobs nationwide and a total payroll of more than $8 billion. Some 270 local, consumer-owned telecommunications cooperatives employ an average of 47 people each and generate more than $2 billion in revenues annually.

 

But that’s not all co-ops do. They also have a strong commitment to the communities in which their members live and work. Every day, in every sector, through cash contributions and volunteerism, co-ops support local causes ranging from education to the environment. They also invest in new community businesses.

 

An example is Farm Credit is currently funding a fiber-optic cable system in Ohio to provide internet, phone and cable television services to 4,000 homes in four rural communities.   Many of these rural residents were previously without access to the internet.  The ag lender is also funding two assisted living homes and a nursing home in three rural Indiana towns. 

 

Cooperatives are strong supporters of community youth programs as well. As an example, each year, Farm Credit funnels over $1 million into community projects and youth and young farmer support. New this year, Farm Credit staff members will work with the National FFA to host a National Days of Service during the annual FFA convention in Indianapolis. Together the two organizations are going to make needed repairs to a day camp which provides programs for children to learn about life on an Indiana farm.

 

FCS is also working with the state conservation programs in Ohio and Tennessee to recognize farmers who excel at stewardship practices within their local counties and continues to make investments in young farmer programs such as the Farm Bureau’s Excellence in Ag competition which recognizes beginning farmers who also work outside the farm operation.

 

It is no coincidence that co-ops show a special loyalty to their communities. As member-controlled enterprises, co-ops are run largely by the people who live and work in the communities they serve. "That gives them a different perspective from businesses owned by distant investors," said Tom Schlenker, executive vice president for FCS in Louisville, Ky. Cooperatives serve 120 million members, or four in 10 Americans. They operate in virtually every industry and range in size from small storefronts to Fortune 500 companies.

 

"Community is not just where we work; it’s why we work," Schlenker said. "Cooperatives are motivated to serve their members, not outside investors. Doing that means we must also serve the communities in which our members live, work and play."

 

"At a time of increasing concern about the national economy, co-ops are creating jobs, income and opportunity in their communities every day," Schlenker added. "Sure, investor-owned businesses generate jobs and make charitable contributions. But for co-ops it’s more personal. It’s a critical part of where we work, what we do and why we do it."

The case studies are available on the National Cooperative Month website at www.coopmonth.coop.    

 

Farm Credit Services of Mid-America is an ag lending cooperative managing over $15.5 billion in assets and serving over 85,500 farmers, agribusinesses and rural residents in Kentucky, Ohio, Indiana and Tennessee. The association provides loans for all farm and rural living purposes including real estate, operating, equipment and housing and related services such as crop insurance and life insurance and vehicle, equipment and building leases. For more information about Farm Credit, call 1-800-444-FARM or visit them on the web at www.e-farmcredit.com.