Tracy Gathman, General Manager
It struck me the other day that April 1, 2021, marks 20 years since the merger was complete that formed Two Rivers Cooperative. Where has the time gone?
I was told years ago by a dear friend that the older you get, the faster time goes. I’ve always tried to wrap my mind around that comment. The hours in a day don’t change, nor do the days in a week or weeks in a year. But life certainly seems to speed up as time goes by.
In reminiscing, I first have to thank all of you for your business and support throughout the past 20 years. It’s been quite a journey, and we are excited about what the future holds for Two Rivers. In celebration, I thought we could take a moment and review some of the highlights from the past 20 years.
Twenty Years of Growth
We’ve often shared the sentiments of Nelson Gardner, a leading Virginia dairyman and long-time cooperative supporter, who said, “The purpose of a farmer cooperative is to enhance members’ income—and they should keep that at the top of their priorities list.”
When Two Rivers was formed back in 2001, the total member equity in the company stood at $4.7 million. As of August 31, 2020, that figure is now $15.4 million. That’s over a $10 million dollar increase! As the member equity section has grown, Two Rivers has also returned over $3 million in cash to our members. When you add in the estimated nearly $3 million in tax savings from the Section 199 pass-through tax deduction and retained member equity, you arrive at a value returned to the members of Two Rivers during the past 20 years totaling over $16 million.
Since 2001, our goal has always been to improve service to our customers. In keeping with this goal, Two Rivers has added over 3 million bushels of grain storage along with additional receiving capabilities. We have also increased net fixed assets by over $9.5 million.
While this growth is significant, more importantly, we continued to build relationships with you and helped improve your farming operations and profitability. Our focus on this for the past 20 years has never ceased, and it will continue into the years to come.
Thank you for trusting us with your business and friendships for two decades. Moving forward, I can assure you we will continue to work in your best interests and provide the products and services you need to keep your farming operation successful.
|TRIBUTARY – MAR 2021||CENEX >|