United Farmers Cooperative and NEW Cooperative Enter Unification Study
Feb 09, 2023
In accordance with United Farmers Cooperative’s (UFC’s) mission "To Provide Innovative Services, Products and Knowledge, for the Benefit of our Members, while exploring opportunities for the Future," the Board of Directors of United Farmers Cooperative have begun a comprehensive study to determine how UFC can best meet the needs of our farmer members now and in the future. With this study and the upcoming retirement of the General Manager, the Board of Directors has approved entering into a Merger Study with NEW Cooperative Inc. based out of Fort Dodge Iowa. https:/www.newcoop.com/
The study process will be guided by the Board of Directors of each cooperative. Their job is to approve the investigation process, provide input, ask questions, review all studies and reports, communicate, make recommendations, and to represent the interests of each cooperative’s membership. Each Board’s general goal is that both cooperatives gain as a result of this process.
The general managers and staff will provide information and do most of the detailed analysis. The managers and staff will identify and evaluate alternatives in all areas of the operations and make recommendations to the Directors.
Communication with the membership during the study process will be very important. We plan to regularly inform you about the progress of the study through our newsletter or through special mailings. Communication is a two-way street, and we strongly encourage you to bring any questions and comments regarding this study to your general manager or board members.
Preliminary work on the project has already started with the first meeting between the Boards of Directors on February 2, 2023. The Directors reviewed NEW’s operating structure, employee structure, market footprint, income history, patronage payout, and deferred equity program. Future meetings will discuss potential advantages and disadvantages associated with working more closely together. Further work is scheduled during the weeks ahead. We expect the project will require a few months to complete.
If you have any questions, comments, or suggestions you would like us to consider, please don’t hesitate to give us a call.
Will Larson, Board Chairman
John Pruss, General Manager
The study process will be guided by the Board of Directors of each cooperative. Their job is to approve the investigation process, provide input, ask questions, review all studies and reports, communicate, make recommendations, and to represent the interests of each cooperative’s membership. Each Board’s general goal is that both cooperatives gain as a result of this process.
The general managers and staff will provide information and do most of the detailed analysis. The managers and staff will identify and evaluate alternatives in all areas of the operations and make recommendations to the Directors.
Communication with the membership during the study process will be very important. We plan to regularly inform you about the progress of the study through our newsletter or through special mailings. Communication is a two-way street, and we strongly encourage you to bring any questions and comments regarding this study to your general manager or board members.
Preliminary work on the project has already started with the first meeting between the Boards of Directors on February 2, 2023. The Directors reviewed NEW’s operating structure, employee structure, market footprint, income history, patronage payout, and deferred equity program. Future meetings will discuss potential advantages and disadvantages associated with working more closely together. Further work is scheduled during the weeks ahead. We expect the project will require a few months to complete.
If you have any questions, comments, or suggestions you would like us to consider, please don’t hesitate to give us a call.
Will Larson, Board Chairman
John Pruss, General Manager