Co-op 101: What is a cooperative? October 12, 2021 October is National Co-op Month and a time to celebrate the cooperative model and the strength it brings to local communities. “CHS is proud to be part of the cooperative system and we’re driven by our purpose to create connections to empower agriculture,” says Jay Debertin, CHS president and CEO. “Our values of inclusion, integrity, cooperative spirit and safety guide us as we work together for shared success and to strengthen our communities.” Do you know what a co-op is? Here we break it down. What is a cooperative? A cooperative is defined by USDA as a user-owned and controlled business from which benefits are derived and distributed equitably on the basis of use or as a business owned and controlled by the people who use its services. Who determines policy? The CHS Board is made up of 17 member-owners, elected by the members. How are profits distributed? The business is operated for a profit; it’s how the profit is divided that makes a co-op unique. Unlike most corporations where the profits are distributed to stockholders, co-ops distribute profits to member-owners on a patronage basis. Patronage is a method of sharing profits among the members. It is based on how much they purchase and the profitability of the co-op. What kind of co-op system is CHS? CHS is a blended federated and centralized cooperative system. CHS is unique in that along with the federated system of member cooperatives, we also have Country Operations, made up of centralized retail locations dedicated to serve member-owners in their respective geographies. Along with member cooperatives, those member-owners of Country Operations locations vote for board members at the CHS annual meeting or are represented by delegates from their business unit at the annual meeting. Help us celebrate National Co-op Month by joining the conversation on social media using #CoopMonth.
CHS recognized for supporting part-time military Dan Kubesh (in uniform), CHS truck driver and Army Reserves truck driver, fueler and platoon sergeant, has recognized CHS for its outstanding support of the military. He is pictured here… Read More
CHS reports $273.6 million in fiscal 2021 third-quarter net income Strongest third-quarter net earnings since 2014; $50 million of additional owner equity redemptions authorized in 2021 CHS Inc. released results for its fiscal third quarter ended May 31, 2021. The… Read More
CHS reports third quarter fiscal year 2024 earnings $297.3 million in third quarter net income contributed to strong nine-month earnings. CHS Inc., the nation’s leading agribusiness cooperative, today released results for its third quarter ended May 31, 2024…. Read More