What is a Cooperative
A cooperative is a business owned collectively by its members who share in the benefits. The Co-op's purpose is to supply its customers with products, marketing assistance, or services.
While cooperatives have much in common with other businesses, there are some differences. Profits, which in our industry are known as "savings" (i.e. money left over each year after the costs of doing business are met), are returned to the customers. At least 20% of these savings are returned in cash and the balance returned in stock certificates. Stock certificates are retired with cash at a later date, depending upon the Co-op's policies and available funds.
Cooperatives operate on a one-member, one-vote policy. Every Common A Stockholder has an equal voice in the cooperative.
About Farmers Elevator Cooperative
The purpose of our cooperative is to provide quality products and services to our customers. We believe it is important to deliver services in such a way that our customers will be happy and satisfied. Good service to our customers really takes a team effort - one that grows out of a group of employees who are knowledgeable, skilled, industrious, positive, and want to be a part of a value system.
Our cooperative is part of a something big - all geared towards serving America's farmers and consumers.
FEC offers a wide array of products and services. We aim to be the best in our business along with the markets we serve. We focus on continuous improvement, while fostering excellence and innovative solutions.
We achieve this by solving problems and exceeding expectations through superior performance, with unwavering reliability. The result is a unique ability to provide creative, timely, and effective solutions for customers of FEC from our 100+ full-time employees.
History of FEC
- July 7, 1899 - Farmers Mutual Cooperative Association of Rock Valley
- 1973 - Purchased Doon Fertilizer Plant
- 1981 - Merged with Alvord Coop
- 1992 - Purchased Hudson Grain
- 1999 - Merger/Aquisition with West Lyon Coop (Inwood & Larchwood)
- 2003 - Merger/Aquisition with Farmers Coop Exchange (Rock Rapids & Lester)
- 2008 - Purchased Hawarden Location
Board of Directors
FEC provides goods and services for its owners (i.e. customers). The member-owners of the co-op elect a Board of Directors to represent them, oversee the operations, and set policies for the co-op.
The board members elect a chairperson (to preside and officiate), establish company policies, and hire a general manager to carry out the policies.
Dave Van Holland - President
Gerald Brands - Vice President
Leon Vanden Bosch - Secretary
Mike Ter Wee - Treasurer
Vern De Boer
- Trusted Company
- Honesty and Integrity
- Fair and Equitable
- Industry Leaders
- Employer Who Cares
Partnering with Farmers to Create
Sustainable Production to Feed the World
One Farm at a Time!
- Customer Service is everyone's job
- Honesty and Integrity always
- We will treat all customers with Respect
- We will Support all employees and locations
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