2025 NCB Co-op 100 Includes 18 Electric Cooperatives, CFC 

National Cooperative Bank (NCB) recently released its 34th annual Co-op 100 list, which ranks the nation’s top cooperative enterprises by annual revenue in 2024. Electric cooperatives are well represented with 13 generation and transmission (G&T) cooperatives, five distribution cooperatives and CFC.  

Electric cooperatives, including CFC, accounted for a combined $23.2 billion in revenue last 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 (EMC) at number 39 with $1.7 billion in revenue.    

The G&T and distribution cooperatives with the biggest moves are Georgia-based Oglethorpe Power Corporation, up nine spots to number 30 with $2.2 billion in revenue, and Middle Tennessee EMC, up 10 spots to number 75 with $1 million in revenue.  

CFC moved up 10 spots to number 42.   

The top 100 cooperatives generated revenue of $323 billion, a slight decrease from 2023. Agribusiness cooperative CHS, Inc., headquartered in Minnesota, topped the chart again with $39.3 billion in revenue. 

Electric Cooperatives in the NCB Co-op 100 

2024	Cooperative	Type	State
21	Basin Electric Power Cooperative	G&T	ND
30	Oglethorpe Power Corporation	G&T	GA
39	Cobb Electric Membership Corporation	Distribution	GA
42	CFC	Finance	VA
44	Tri-State G&T Association	G&T	CO
48	Central Electric Power Cooperative	G&T	SC
52	Associated Electric Cooperative	G&T	MO
63	North Carolina Electric Membership Corporation	G&T	NC
67	East Kentucky Power Cooperative	G&T	KY
68	Old Dominion Electric Cooperative	G&T	VA
71	Cooperative Energy	G&T	MS
74	Great River Energy	G&T	MN
75	Middle Tennessee Electric Membership Corporation	Distribution	TN
76	Arkansas Electric Cooperative Corporation	G&T	AR
86	Pedernales Electric Cooperative	Distribution	TX
88	Northern Virginia Electric Cooperative	Distribution	VA
90	CoServe	Distribution	TX
92	Power South Energy Cooperative	G&T	AL
94	Western Farmers Electric Cooperative	G&T	OK