PEC named among National Cooperative Bank’s top 100 co-ops
Fifth consecutive year PEC makes the list
PEC is honored to be named one of the top cooperatives in the U.S. by National Cooperative Bank (NCB), making its annual list of top 100 co-ops. This is the fifth consecutive year PEC has made the list, which highlights the nation’s top 100 revenue-earning cooperative businesses.
Based on 2019 revenues of about $618 million, PEC came in at No. 88 this year. As a nonprofit cooperative, the funds PEC earns when revenues exceed expenses are returned to members in the form of capital credits.
“It’s an honor to be included on this important list again this year along with many of the nation’s best-known names,” said PEC Chief Executive Officer Julie C. Parsley. “This demonstrates our commitment to fiscal responsibility and the membership.”
NCB’s list ranks cooperatives by revenue in sectors such as health care, agriculture, finance, grocery, and more. Across industries, all cooperatives share the same business model and follow seven cooperative principles, including democratic member participation and concern for community.
PEC is the largest distribution electric cooperative in the U.S., serving more than 1 million Central Texans across an 8,100 square mile service area.