CoBank and the Northeast Cooperative Council (NECC) held a joint meeting in Syracuse, NY on March 18-19. CoBank held its Northeast Customer Meeting. The NECC held its annual Cooperative Leaders Forum. The theme for this year's forum was Contemporary Cooperative Issues. Director Paul Saenger represents Yankee on the NECC.
Dan Kelley, the First Vice Chairman of CoBank's board of directors, and Bob Engel, CoBank's President and CEO, discussed CoBank's financial results for 2009. Net income was a record $565 million. The patronage distribution was $269 million, or 48% of net income. CoBank ended the year with $58 billion in assets and excellent credit quality, with 97.8% of loans in the top two categories for credit quality.
A number of interesting speakers addressed the attendees. Click here for the conference agenda; click here for speaker bios. The evening speaker was Doug Flutie, who spoke about both football and his Foundation for Autism. Over 160 northeast cooperative leaders attended the meeting, including nine directors and managers from Yankee.
UPDATE 3/26/10: Speaker presentations from the NECC meeting are posted here.
