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 seventh consecutive year PEC has made the list, which highlights the nation’s top 100 revenue-earning cooperative businesses. Based on 2021 revenues of about $643 million, PEC came in at No. 90 this year. As a nonprofit cooperative, when revenues exceed expenses, PEC reinvests in the cooperative’s operations. Funds not needed to operate the cooperative are ultimately returned to members in the form of capital credits.
“Despite the challenges of global pandemic and a devastating winter storm, we have shown our strength and commitment to fiscal responsibility and our members,” PEC Chief Financial Officer Randy Kruger said. “We are proud to be an electric cooperative listed among the best names in the industry.”
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.