CoBank and the Northeast Cooperative Council (NECC) held a joint meeting in Albany, NY on February 25-26. CoBank held its Northeast Customer Meeting. The NECC held its annual Cooperative Leaders Forum. The theme for this year's forum was Cooperating in Turbulent Times.
Bob Engel, CoBank's President and CEO, discussed CoBank's financial results for 2008. Net income was a record $533 million. The patronage distribution was $314 million, or 59% of net income. CoBank ended the year with $61 billion in assets and excellent credit quality, with 98.4% of loans in the top two categories for credit quality.
New York Commission of Agriculture Pat Hooker addressed the attendees, as did a variety of interesting and informative speakers. (Click here for a press release describing the agenda.) Over 120 northeast cooperative leaders attended the meeting, including eight directors and managers from Yankee.
UPDATE 3/11/09: Speaker presentations from the NECC meeting are posted here. Guest speaker presentations from the CoBank meeting are posted here.
