August 18, 2020 - Lincoln, NE and Cedar Bluffs, NE - Following a three-week voting period, Farmers Union Coop Association members approved the proposed unification with Frontier Cooperative.
The unification of the two cooperatives will be effective September 1, 2020.
Under Nebraska law, a majority of members casting ballots from Farmers Union Coop Association needed to vote ‘Yes’ to approve the unification.
The results of the vote show that the unification passed with 77% voting Yes.
“We are excited about the possibilities this unification brings to us to grow our business in the future,” says Randy Carlholm, General Manager, Farmers Union Coop Association.
“We believe it will bring positive benefits to the cooperative, its members and its employees.”
Prior to the vote, there was a due diligence period, in which the boards identified specific benefits for both members and employees.
The benefits identified include strengthening member service to continue investing in technology, talent, assets and programs; the ability to compete and grow more effectively over a greater combined area, capacity and capability; and the ability to strategically position the companies for the future.
Frontier Cooperative CEO, Jeremy Wilhelm was appreciative of the diligence shown to the unification process.
“The Boards of Directors and leadership teams spent time analyzing this opportunity before presenting it for a vote,” said Wilhelm.
“The outcome of the vote shows the commitment to helping both cooperatives be a better organization, and now we will focus on continuing to provide excellent services, technology and products to our members.”
The name of the unified cooperative will be Frontier Cooperative, with the home office remaining in Lincoln, Nebr.
The integration phase will take place between now and September 1, which includes onboarding the employees with training in accounting software, transitioning scale interfaces, updating signage, uniforms, etc.
Frontier Cooperative will then operate approximately 55 grain, agronomy, energy and feed locations across 14 counties in eastern Nebraska.
The unified cooperative will be led by Wilhelm and a 19-member Board of Directors.
The board will consist of 18 current Frontier Cooperative board members and 1 current Farmers Union Coop Association board member.
The 19-member board will remain until the board election at the 2021 annual meeting.
For more information, please contact Jeremy Wilhelm at 402-937-1800.