NCB Co-op 100® Details Cooperatives’ Multibillion-Dollar Impact on U.S. Economy
FoodService Purchasing Cooperative Ranked No. 51 on List with $665 million in Revenue
Louisville, Ky. — Nov. 3, 1999 —
National Cooperative Bank released the seventh annual NCB Co-op 100®, a complete listing of the country’s top cooperatives with annual revenues greater than $325 million.
Unified Foodservice Purchasing Co-op®, LLC (UFPC®) — formerly FoodService Purchasing Cooperative, Inc. — enjoyed its best year ever in 1998 with revenues of $665 million, up almost 11 percent for the year. Based on this increase, the former FoodService Purchasing Cooperative sits on NCB Co-op 100 at No. 51, up 13 from last year.
“The NCB Co-op 100 serves as a leading indicator of cooperative business activity across the nation,” said Daniel E. Woodside, UFPC's President and Chief Executive Officer. "The research compiled for this report confirms what the co-op community already knew — that cooperatives are continuing to grow in numbers and in size."
A cooperative is defined simply as a business belonging to the people who use it. It operates for the benefit of its member/owners who share equally in the control of the business. A 1997 survey by the Consumer Federation of America showed that the overwhelming majority of Americans view cooperatives favorably. Based on the values of self-help, self-responsibility, equality and equity, cooperatives exist in virtually every industry — agriculture, consumer credit, financial services, child care, education, electricity, grocery, health care, hardware, housing, insurance and technology.
NCB launched the Co-op 100 list in 1992 to raise awareness of the contributions cooperatives make to our economy. Since the first list was published, this report has become an important annual indicator of cooperative business success across the country. The NCB Co-op 100 is published annually by National Cooperative Bank. To download the report, visit NCB’s Web site at www.ncb.com. For a copy of the entire publication, please contact Mara Sheldon at (202) 518-8047.
UFPC manages the supply chain for corporate and franchise KFC, Taco Bell, and Pizza Hut restaurants. The members of UFPC include KFC National Purchasing Cooperative, Taco Bell National Purchasing Coop, and Pizza Hut National Purchasing Co-op. Headquartered in Louisville, Ky., UFPC has offices at the restaurant support centers in Dallas, Texas, and Irvine, Calif.
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