On November 23, 2015, Central Valley Ag Cooperative (CVA) hosted their Annual Meeting for member-owners to review the fiscal year, and to announce the newly elected Board of Directors. At the meeting, CVA reported $22.04 Million in Local Net Profit, $33.38 Million in Total Profit and returned $11.5 Million in patronage to Member-Owners with 50% being paid in cash. Over the fiscal year $14.02 Million was paid out in cash patronage, equity redemptions, and estates. Not only was patronage a benefit for member-owners; $37.79 Million was reinvested in assets to better serve their needs.
“We believe that the Cooperative business model requires a balanced approach; balancing service, profit, patronage, equity redemption, and reinvestment,” said Carl Dickinson, CEO of CVA. “We are proud of our performance in each of these areas.”
To maintain this balanced approach, Central Valley Ag relies on it’s Board of Directors. It is their responsibility to position CVA for future success and profitability for member-owners. The Board of Directors is made up of local, agricultural businessmen who are recognized for their industry expertise, as well as economic and community development skills. An election was held for the Board of Directors and the results were announced at the meeting.
Normal business on the cooperative was conducted at the meeting by the current Board Chairman, Dave Beckman.