What is a Co-op?

The purpose of a cooperative is to serve the needs of their members with specific products, services, financial programs and advanced technology. And, the members own cooperatives, therefore, as a cooperative, High Plains Co-op is dedicated to its members, putting them first.

Cooperatives are very similar in operation to other businesses, however, one large area of difference is financial responsibilities. A cooperative’s profits or earnings are called savings. After the costs of doing business are paid, the savings left over at the end of the year are returned to the members as patronage.

Patronage is paid out in two forms: cash and capital credit. High Plains Cooperative pays back 30% in cash and 70% in capital credit. The capital credit is then returned to the customer at a later date.

As a member you have to opportunity to help direct the cooperative through future endeavors. Each member of a cooperative has one vote. In addition, members of a cooperative elect a Board of Directors who oversees the cooperative and hires a General Manager to manage the daily operations. High Plains Cooperative has a seven-member board.

Therefore, choosing a cooperative as your petroleum and input supply provider, allows you to not only receive financial benefits, but a cooperative is the company you own.