NEW Directions December 2013 : Page 1

DECEMBER 2013 www.newcoop.com TM LOCATIONS Badger Barnum Blairsburg Bode Clare Duncombe Fort Dodge Glidden Humboldt Knierim Knoke Lanesboro Lanyon Lidderdale Lohrville LuVerne MAPS Otho Palmer Pomeroy Rands Roelyn Vincent Woolstock YOUR PARTNER 515-545-3145 515-542-3221 515-325-6252 515-379-1754 515-546-4265 515-543-4245 515-955-2040 712-659-2227 515-332-3374 515-463-2331 712-468-2893 712-656-2225 515-879-2711 712-822-5211 712-465-3145 515-882-3221 515-955-9030 515-972-4471 712-359-2294 712-468-2222 712-297-7579 515-549-3316 515-356-4185 515-839-5531 MEETING WITH THE MANAGER Looking Back on 2013 2013 was a challenging year, to say the least. Despite the volatile crop year, your cooperative continued to grow our product and service offerings, and we remained focused on providing the best service possible and adding value to each of our member’s farming operations. To that end, the local earnings for 2013 were $20.4 million on $850 million in sales. While overall sales were down from 2012 due to By Brent Bunte falling market prices, it is a 13% increase in earnings. This shows you once again that we are taking the necessary steps to protect the fi nancial integrity of your cooperative and return that value back to our members. As we all know, fi nancial risk in agriculture today is greater than ever before. Positioning NEW Cooperative fi nancially to both weather a potential storm, and to quickly take advantage of opportunities that arise during these times is the goal of your cooperative. Towards that effort, NEW Cooperative virtually eliminated all long-term debt in 2013 by restructuring our borrowing package CoBank. Our reduced monetary needs are a result of the expected lower grain prices as we move into the future. As a member of NEW Cooperative, you should feel proud of the fi nancial position of your company, and always know how very seriously we take the responsibility of maintaining it. While strengthening our balance sheet this past year, we also re-invested back into your cooperative by building and upgrading facilities that will service the future needs of the producer for years to come, and providing the quality equipment your operations need today to quickly move product to the fi eld. Eliminating debt, investing back into the company, and revolving money back to the members are signatures of a fi nancially strong cooperative. It is very important that you know how much we truly appreciate your loyalty to NEW Cooperative. Without our incredible member support, it would not be possible to be the fi nancially strong cooperative we are today. We are pleased to announce the 2013 patronage rates of $.12 on grain, 5% on agronomy and 3% on feed services. We are also excited to announce the beginning of a major project at our Lidderdale feed mill. This is a large fi nancial commitment, but we believe it to be vital to the future of the feed mill. Please learn more about this project in Feed Manager Elwyn Bruhl’s article, as he re fl ects upon his almost 41-year career with NEW Cooperative and the changes he’s seen during this time. We want to congratulate Elwyn on his upcoming retirement and sincerely thank him for his impressive service to NEW Cooperative. IN THE FIELD

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