Top 100 US Co-ops Post $309bn in Revenue
Businesses competing with or supplying cooperatives should note the sector's combined scale across agriculture, energy, retail, and banking.
Updated on Nov. 2, 2026 in Economic Indicators
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The National Cooperative Bank released its annual NCB Co-op 100 ranking of the top 100 US revenue-earning cooperatives, which together reported a combined $309bn in revenue for 2025. The ranking, published in October during National Co-op Month, offers a snapshot of the scale of the cooperative sector across farming, energy, retail, and financial services.
Why it matters
The ranking gives operators a benchmark for how large cooperative enterprises are growing across agriculture, energy, retail, and banking. NCB says the release is meant to showcase the scale and reach of the co-operative economy and to educate the public about the sector during National Co-op Month.
The top 100 cooperatives reported a combined $309bn in 2025 revenue, with CHS leading at $35,463m, ahead of Dairy Farmers of America at $23,096m. Ranks run down to Oglethorpe Power Corporation at 23rd with $2.5bn, but the extraction gives no prior-year totals to show whether the group grew or shrank.
The players
National Cooperative Bank
A federally chartered bank that provides financing and banking services to cooperatives and publishes the annual NCB Co-op 100 ranking of US co-ops by revenue.
CHS Inc.
A Minnesota-based agricultural cooperative that supplies grain, oilseed, energy, and farm inputs and ranked first on the 2025 list with $35,463m in revenue.
Dairy Farmers of America
A Kansas-based dairy cooperative that markets milk for its member farms and ranked second on the list with $23,096m in revenue.
Navy Federal Credit Union
A Virginia-based member-owned credit union offering consumer banking, lending, and insurance and ranked fourth with $15,088m in revenue.
REI Co-op
A Washington-based member-owned retailer of outdoor recreation gear that ranked 16th with $3.5bn in revenue and was the highest-ranked recreation co-op.
The details
NCB ranks cooperatives by the annual revenue each one reports for the prior year, then publishes the results as part of the annual NCB Co-op 100 report. The 2025 list spans sectors including agricultural supply, dairy, financial services, energy generation and transmission, hardware retail, and outdoor recreation. Ranking by reported revenue makes it possible to compare cooperatives of very different sizes on a single scale.
Timeline
2025: fiscal year for which the reported co-op revenue figures apply.
October 2026: NCB releases the annual Co-op 100 ranking during National Co-op Month.
Market Landscape
The cooperative model traces back to policies like the Rural Electrification Act of 1936, which enabled member-owned rural electric utilities. Today's top-ranked co-ops, including Oglethorpe Power Corporation in Georgia and Basic Electric Power Cooperative in North Dakota, extend that model into large-scale power generation and transmission.
Operators who buy from, sell to, or compete with cooperatives should note the scale of the largest co-ops in their sectors, from agricultural inputs to hardware and outdoor retail. Businesses evaluating cooperative suppliers or financing partners may want to review how those relationships fit their procurement and banking strategy with qualified counsel or an accountant.
The takeaway
Cooperatives collectively generated $309bn in 2025 revenue, a benchmark for how large member-owned enterprises have scaled across sectors. Operators comparing cooperative and investor-owned competitors should pull the next NCB Co-op 100 release each October to track whether the group's revenue is growing.
Further reading
For broader context on how cooperative revenue fits into national output, see Economic Indicators coverage for the United States.
Source note: This article includes information reported by Co-operative News.
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