Central Valley Ag Cooperative (CVA) recently hosted their Annual Meeting for member-owners to review the fiscal year, and to announce the new elected members of their Board of Directors. CVA relies on it’s 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; Ryan Crumly – Region 1, Kurt Thoene – Region 2, Paul Jarecke – Region 3, Neal Bracht – Region 4, Jeff Berggren – Region 5 and Doug Moon – Region 6.
“I would like to congratulate our newly elected board of director members, we believe that the Cooperative business model requires a balanced approach and our board plays an integral role in CVA’s performance,” said Dave Beckman, Chairman of the Board of Directors for CVA. “In addition to congratulating our newly elected members, I would like to thank our departing board of director members Rod Heiss, Byron Neinhueser and Mike Bergen for their dedication to CVA over the years.”
At the meeting, CVA reported $15.04 Million in Local Net Profit, $27.3 Million in Total Profit and returned $8.0 Million in patronage to member-owners with 50% paid in cash and the balance in Non-Qualified Equity. Over the 2016 fiscal year $8.1 Million was paid out in cash patronage, equity redemptions, and estates. The amount paid out in cash to CVA member-owners now stands at $62.6 Million over the past five years. Not only is the cash received as a benefit for member-owners; $40.7 Million was reinvested in assets to improve speed, space, and efficiency in 2016. CVA has now spent $213.8 Million over the past five years in assets to better serve its member-owners.
“The Cooperative model continues to perform well and these results could not have been obtained without an outstanding group of employees and the support of our member-owners,” said Beckman.
To view the 2016 Annual Meeting Report, click here.