Co-ops Take a Back Seat to No One in Community Investment
When it comes to making economic and charitable contributions to their communities, the nation's cooperative businesses take a back seat to no other economic sector.
That's the inescapable conclusion from a collection of case studies assembled for the annual celebration of Co-op Month in October.
The 20-plus pages of case studies, put together by the National Co-op Month Planning Committee, show that co-ops generate hundreds of thousands of jobs and billions in income for their communities through their day-to-day activities.
More than 3,000 farmer cooperatives, for example, account for more than 200,000 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.
Access Energy Cooperative recently secured a $500,000 zero-interest USDA Rural Development loan to assist the Cambridge Investment Group of Fairfield in building a 40,000 sq.ft. office complex in Fairfield.
Through the same program, Access Energy Cooperative was also able to obtain a $300,000 grant to support the construction of a 50,000 sq.ft. speculative building in the Crossroads Industrial Park in Mt. Pleasant, and was able to assist Riverside Paper with a $450,000 zero-interest pass through loan to help purchase machinery and equipment for its new operation in Mt. Pleasant.
Another speculative building Access Energy Cooperative helped finance through the USDA Rural Development Loan program now houses Mt. Pleasant Foods.
This extensive community involvement isn't just chance.
As member-owned enterprises, your co-op is owned by the people who live and work in the communities we serve. That gives us a different perspective from businesses owned by distant investors.
Robert Swindell, CEO/General Manager put it this way: “Community is not just where we work; it's why we work."”
Added Kimberly Brumbaugh, Director of Marketing and Communications, “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.”
As we pause to celebrate the role and accomplishments of the nation's cooperatives, their economic and charitable contributions cannot be overlooked. At a time of increasing concern about the national economy, co-ops are creating jobs, income and opportunity in their communities every day.
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. Perhaps the theme for Co-op Month 2006 says it best: Cooperatives: Owned by our members. Committed to our communities.