NCEMC is among the top co-ops in nation
Once again, North Carolina Electric Membership Corporation has made the top Co-op 100 list. The list, issued annually by National Cooperative Bank, highlights the success and economic power of member-owned, member-controlled businesses. The only annual report of its kind, it lists the nation's top 100 revenue-earning cooperatives.
Based in Raleigh, NCEMC ranked 53 on the list, with $1.4 billion in revenues and $1.6 billion in assets for 2012. Its ranking was up two spots from its 2011 ranking of 55.
NCEMC, which is owned by and supports electric cooperatives in North Carolina, is one of the largest generation and transmission cooperatives in the nation. Formed in 1949, NCEMC and its member cooperatives own part of the Catawba Nuclear Station Unit 1 in York County, S.C., as well as four peak-load generating plants. NCEMC also is responsible for electricity purchase contracts with Duke Energy, Dominion Power, Southern Company and others in the region, as well as by contract with producers of hydroelectric, wind and solar energy.
Other cooperatives highlighted include: REI (recreational equipment), based in Sumner, Wash.; Ocean Spray (juice, fruit and snacks), based in Lakeville-Middleboro, Mass.; and Ace Hardware Corp. (retail stores), based in Oakbrook, Ill. CHS, a Minnesota-based energy, grains and food operation, took the No. 1 spot with 2012 revenues of almost $40.6 billion.
National Cooperative Bank, headquartered in Washington, D.C., provides banking solutions to meet the needs of cooperatives nationwide. To see the report, visit ncb.coop.