SENATE PASSES RESOLUTION PROMOTING COOPERATIVES
AS BENEFICIAL TO JOB CREATION, ECONOMIC GROWTH

Cochran, Wicker Cosponsor Measure & Highlight Usefulness of Co-ops in Mississippi

WASHINGTON, D.C. – The United States Senate late Thursday passed a resolution authored by U.S. Senators Tim Johnson (D-N.D.) and Thad Cochran (R-Miss.) that acknowledges and promotes the economic and social benefits of cooperative business organizations in this country and around the world.

S.Res.87 was approved by unanimous consent.  U.S. Senator Roger Wicker (R-Miss.) cosponsored the measure, which also enjoyed a wide range of support among farming, utility and financial cooperatives or co-ops.  The Johnson-Cochran resolution designates 2012 as the “International Year of Cooperatives,” and encourages the formation of a national committee to study how to encourage new domestic and international cooperative developments.

“This resolution highlights the usefulness of cooperative business models in creating opportunities for groups of people, especially those living in rural areas.  Cooperatives give groups that might otherwise be left at a disadvantage a chance to be more competitive in marketing goods or securing basic services,” Cochran said.  “I’m proud of the accomplishments of cooperatives in Mississippi and elsewhere. I look forward to cooperatives continuing to expand and prosper in an increasingly global marketplace.”

“Cooperatives help many of Mississippi’s rural communities immensely, and today’s resolution highlights the good work they do,” said Wicker.  “The broad support this resolution received is a testament to the benefit of co-ops across the country.”

Cosponsored by a bipartisan group of 30 Senators, the resolution states that the U.S. Senate “recognizes the importance of raising the profile of cooperatives and demonstrating the manner by which cooperatives build local wealth, generate employment, and provide competition in the market place.”

There are more than 29,000 cooperatives in the United States that employ about 2 million workers—primarily in consumer cooperatives like credit union, food and utility co-ops.  Cooperatives in the United States generate more than $650 billion in revenue annually.
 
According to the University of Wisconsin Center for Cooperatives there are 875 cooperatives in Mississippi, including organizations covering famer credit, supply and marketing, credit unions, water and electric utilities, transportation, arts and entertainment, insurance, and grocery and consumer goods.  In 2009, these cooperatives employed more than 6,000 people, and served more than two million members.

Among the major organizations supporting the “International Year of Cooperatives” resolution are the National Rural Electric Cooperative Association, National Telecommunications Cooperative Association, American Farm Bureau Federation, Farm Credit Council, National Council of Farmer Cooperatives, National Farmers Union, Credit Union National Association, National Association of Federal Credit Unions and National Cooperative Business Association.

LINK:
University of Wisconsin Center for Cooperatives:  http://www.uwcc.wisc.edu/pubs/CurrentResearch/state-by-state.aspx.

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