Central Valley Ag Cooperative (CVA) recently hosted their Annual Meeting for member-owners to review the fiscal year. CVA reported $21.7 Million in Total Profit for fiscal year 2017 ending on August 31, 2017.
“We are proud of the way our Cooperative performed this year in a difficult environment,” said Carl Dickinson, CEO/President of Central Valley Ag. “We believe that true success comes from not only serving farmers, but also in returning profits to its owners.”
This year, CVA will disperse $8.0 Million in patronage to member-owners with 25% paid in cash and the balance in Non-Qualified Equity. Over the 2017 fiscal year, $7.9 Million was paid out in cash patronage, equity redemptions, and estates. Not only is the cash received as a benefit for member-owners; $26.4 Million was reinvested in assets to improve speed, space, and efficiency in 2017.
At the meeting CVA also announced the newly elected members of their Board of Directors. CVA relies on its Board of Directors to position CVA for future success and profitability for member-owners. The CVA Board of Directors is made up of local, agricultural producers who are recognized for their industry expertise, as well as economic and community development skills. CVA member-owners elected the following individuals to represent their voice on the board: Alex Brookhouser – Brunswick, NE; Duane Schumacher – Bloomfield, NE; Pat Wemhoff – Humphrey, NE; Jay Uehling – Oakland, NE; Lucas Carlson – York, NE; Larry Naber – Utica, NE; Luke Shamburg – Beloit, KS; and Mark Phillips – Akron, IA.
“It is our goal to focus on customer needs and the processes that improve our customers’ experience and to do these things in a cooperative manner to help them achieve maximum profitability,” said Dave Beckman, CVA Board Chairman. “Our Board of Directors play a large role in helping us achieve that goal. I also want to thank our departing board of director members Gordon Quiring, Gary Resco and Don Nelson for their dedication to CVA over the years.”