Update From Your Board of Directors By Todd Nelson, UFC Board Chairman
Thanks to all who attended the annual meeting of United Farmers Cooperative, held Jan. 9 at the Berdan Center in Winthrop. We had a good year in 2016. Our audit report, released at that meeting, announced our 2016 local profit as $4.1 million and our total profit as $7.5 million.
he month previous to our annual meeting, we mailed checks to our active members totaling $1.2 million. This represented 100 percent of their 2016 qualified patronage dividend. At the same time, we issued $2.6 million in non-qualified patronage to our members. UFC has paid the tax on these non-qualified dividends and will redeem them at a later date. At the annual meeting, members re-elected three board members for three-year terms: Jeff Manderscheid —representing our northwest trade territory; Kevin Vetter—representing our southeast trade territory; and Eric Annexstad—a director at large. Later, at the board’s January meeting, we reorganized the board. Our chairman of four years, Jeff Franta, retired as chairman, although he continues to serve on the board. Thank you, Jeff, for your service. I was elected as chairman of the board, Kevin Vetter was elected
vice-chairman, and Todd Kettner was re-elected secretary. We look forward to serving in these positions.
Invitation to celebrate We are planning an open house for our newly constructed Brownton Ag Service Center on April 5. Turn to page 12 for more details on this event. I look forward to seeing you there. Together, we’ll celebrate this forward-looking expansion of your cooperative’s agronomy services. I want to assure all of you that UFC has a strategic plan. Whatever we do, whether it is a merger or buying a major piece of equipment, we plan and study it first. Unlike a popular advertising slogan, we never “Just do it!” When we merged with Brownton Co-op Ag Center last spring, we had studied the benefits of that union for months and even years before. Likewise, when we bought a Patriot® Sprayer for use this spring in growers’ fields, it was all part of our carefully
considered strategic plan to add value to our customers’ lives. If you have a question about a decision we make, or if you just want to know more about why we do what we do, feel free to contact any of our board members. Have a safe and prosperous spring planting season. ●
Fieldviews is a publication of United Farmers Cooperative located in Southern Minnesota.