2023 NCB Co-op 100 Includes 22 Electric Cooperatives, CFC

National Cooperative Bank (NCB) recently released its 32nd annual Co-op 100 list, which ranks the nation’s top cooperative enterprises by annual revenue. Electric cooperatives are represented with 16 generation and transmission (G&T) cooperatives, six distribution cooperatives and CFC. 

Electric cooperatives, including CFC, accounted for a combined $27.9 billion in revenue in 2022, a more than 17% increase from the prior year. The highest-ranked G&T is North Dakota-based Basin Electric Power Cooperative at number 21 with $2.8 billion in revenue, while the highest-ranked distribution cooperative is Cobb Electric Membership Corporation at number 38 with $1.8 billion in revenue.  

The G&T cooperatives with the biggest moves are East Kentucky Power Cooperative, up seven spots to number 57 with $1.3 billion in revenue, and Old Dominion Electric Cooperative, up eight spots to number 70 with $1 billion in revenue. 

The distribution cooperatives with the biggest moves are Cobb Electric Membership Corporation, up 36 spots to number 38, and Northern Virginia Electric Cooperative, joining the list at number 74 with $993 million in revenue.  

The top 100 cooperatives generated revenue of $319 billion, an increase of 25% from 2021. Agribusiness cooperative CHS, Inc., headquartered in Minnesota, topped the chart again with $47.8 billion in revenue.