ARLINGTON, Va. – October 31, 2026 -- The 100 largest US cooperatives reported combined revenue of $309 billion in 2025, according to the annual NCB Co-op 100 report released by National Cooperative Bank (NCB). NCB describes the report as the only annual publication that tracks cooperative business performance across multiple sectors.

CHS Inc. keeps first place with $35.5 billion in revenue

CHS Inc., based in Inver Grove Heights, Minnesota, held the top position on the list. Dairy Farmers of America, based in Kansas City, Kansas, retained second place with $23.1 billion.

Navy Federal Credit Union ranks fourth with $15.1 billion

Navy Federal Credit Union, headquartered in Vienna, Virginia, led the finance category. CoBank, headquartered in Greenwood Village, Colorado, ranked eighth with $10.4 billion.

Wakefern and Associated Wholesale Grocers take fifth and sixth with a combined $25.3 billion

Wakefern Food Corporation / ShopRite, based in Keasbey, New Jersey, reported $13.1 billion. Associated Wholesale Grocers, Inc., based in Kansas City, Kansas, reported $12.2 billion.

ACE Hardware earns $10.0 billion, ranking ninth among hardware and lumber cooperatives

ACE Hardware Corp., headquartered in Oak Brook, Illinois, led its sector. Do it Best Corp., located in Fort Wayne, Indiana, placed 13th with $4.9 billion.

HealthPartners, REI and two power cooperatives fill out the sector leaders

HealthPartners Inc., located in Bloomington, Minnesota, ranked 10th with $9.3 billion in revenue. Recreational Equipment Inc. (REI), located in Sumner, Washington, ranked 16th with $3.5 billion.

In energy, Basin Electric Power Cooperative of Bismarck, North Dakota, placed 19th with $3.1 billion. Oglethorpe Power Corporation of Tucker, Georgia, placed 23rd with $2.5 billion.

NCB President and CEO Casey Fannon said the ranking shows the "remarkable scale and reach of the cooperative economy." The report is released each October during National Co-op Month.