On April 10, 2017, two hundred members and guests attended United Cooperative’s 81st annual meeting at the Watermark Community Center, Beaver Dam, Wis.
At the meeting, David Cramer, United Cooperative president and chief executive officer, reported revenues for 2016 were $633 million. United Cooperative’s core cooperative businesses of feed, grain, agronomy and energy generated $25 million in profits, down $2 million from 2015. The investment United Cooperative made in ethanol contributed $14 million to its net income in 2016, up from the $11 million this investment returned the year before. Patronage from regional cooperatives was down one million from 2016, at $6 million dollars. All combined, United Cooperative had a total net income before income taxes in 2016 of $45.5 million dollars, virtually unchanged from 2015.
With those profitable numbers, United Cooperative is returning $28.7 million in total patronage to members. Forty percent of this patronage, or $11.5 million, will be distributed in cash to United Cooperative’s patron member owners in April, while 60%, or $17.2 million, will be retained in equity credits. In addition, the cooperative plans to continue to revolve stock in October, retire stock at age 77 and pay all estates as requested.
“United Cooperative invested millions in cooperative building projects in 2016 to benefit member access and profitability,” Cramer said. Construction was completed on two feed manufacturing facilities at Wilton and Shawano; on a complete grain receiving and drying system at Westfield; a 1.2-million-bushel storage bin at Rock Springs; a 4,650-ton dry fertilizer plant and a new liquid facility at Auroraville; a 24-hour fuel pumping station at Hillsboro; and a maintenance shop at Hillsboro.
Nominating Committee Chair, Jonathan Wyttenbach, Sauk City, reviewed election results. This year, United Cooperative had three incumbent directors seeking re-election from each of the three district areas (northern, central and southern). Rod Leiterman, Denmark, Northern District, Peter Mlsna, Hillsboro, Central District, and Gary Nolden, Prairie du Sac, Southern District, were elected to three-year terms. Board Secretary Robin Craker reported to membership that the board passed a resolution to increase board representation from nine to 10 members as a result of the approved merger with Greenville Cooperative, effective April 1. Larry Plamann, Greenville, has been appointed by the former Greenville Cooperative board of directors to fill the seat for a three-year term on the United Cooperative board. Representation on the United Cooperative board of directors will return to nine members in 2020.
Twenty-six employees were recognized by Cramer for their years of outstanding service with United Cooperative. They represented 10, 15, 20, 25, 30, 35, 40 and 45 years of service. In addition, three retirees were honored for their dedication to United Cooperative.
Formed in 1936, United Cooperative is a full-service cooperative offering feed, grain, agronomy, and energy products and services to Wisconsin farmers and consumers. United Cooperative has locations in Auroraville, Baraboo, Beaver Dam, Deerfield, Denmark, Greenville, Gresham, Hartford, Hillsboro, Horicon, Hustisford, Johnson Creek, Mayville, Ontario, Pickett, Poynette, Prairie du Sac, Pulaski, Reedsburg, Ripon, Rock Springs, Sauk City, Shawano, South Beaver Dam, Wilton, Wonewoc and Wyocena. For more information, visit www.unitedcooperative.com.
