WCM 2023 3101

Exploring
the cooperative
economy
REPORT 2023
Exploring
the cooperative
economy
www.monitor.coop
THE WORLD COOPERATIVE MONITOR IS AN INTERNATIONAL COOPERATIVE ALLIANCE INITIATIVE WITH THE SCIENTIFIC SUPPORT OF EURICSE
MADE POSSIBLE BY THE SUPPORT OF OUR ORGANISATIONAL PARTNERS
Special contribution from
Supporting partners
FOR INFORMATION CONTACT

www.monitor.coop
monitor@monitor.coop
Jeroen Douglas
Director general, ICA
The 2023
World Cooperative Monitor
Gianluca Salvatori
Secretary General, Euricse
Welcome to the 12th edition of the World Cooperative Monitor! of cooperative and mutual enterprises to thrive and im-
pact their communities.
The need for robust data to provide evidence of the contri-
bution cooperatives make to local communities and sus- This year’s report provides the annual rankings of the Top
tainable development is glaring. From the United Nations 300 largest cooperative and mutual enterprises and the
Secretary-General’s 2023 report on cooperatives in social rankings by sector. It also contains a focus on benefits to
development advocating for the need for evidence-based members and the way the largest cooperative and mutual
policies to support the promotion of cooperatives, to the enterprises communicate their cooperative identity and
development of indicators to demonstrate the contribution
advantage. The thematic chapter was developed in collab-
to the Sustainable Development Goals, to cooperatives
oration with the International Cooperative Entrepreneur-
and mutual enterprises making attempts to communicate
ship Think Tank (ICETT) and is the start to a deeper look
their own stories and successes. The calls for enhanced
the group will take into the benefits of being a member of
data are widespread.
a cooperative or mutual organisation.
While we still have a long road ahead and need to collect
more data from individual enterprises and overall eco- The World Cooperative Monitor team would like to thank
systems, the World Cooperative Monitor, produced by the the organisations, researchers, advisory committee
International Cooperative Alliance (ICA) with the scientific members, apex oranisations, and all those who helped
and technical support of the European Research Institute compile and check the data for this year’s edition. And a
on Cooperative and Social Enterprises (Euricse), makes a special thank you to our partners and supporters from
significant contribution – through economic data collec- ICETT! We look forward to continuing to develop this
tion and thematic analysis – to demonstrating the capacity work together.
3
INDEX WCM 2023
6 INTRODUCTION
10 2021 RESULTS AND SECTOR RANKINGS

Highlights and Key results
Sector Rankings
51 COOPERATIVE MEMBER BENEFITS
64 TOP 300 RANKINGS

Top 300 Ranking by Turnover with employment data
Top 300 Ranking by Turnover over GDP per capita
148 METHODOLOGY AND DATA SOURCES
156 TEAM, PARTNERS, SPONSORS

The World Cooperative Monitor team and advisory committee
Promoters and Organisational partners
EXPLORING THE COOPERATIVE ECONOMY
6
REPORT 2023
Introduction
7
The World Cooperative Monitor (WCM) is a project designed to collect economic, organisa-
tional, and social data about cooperatives and mutuals worldwide. It responds to the need
to have robust data for the cooperative movement – data that shows not only the economic
importance of this business model, but also the particular impact cooperatives and mutuals
around the world have on their members and communities. The World Cooperative Monitor
raises awareness of the economic size and sustainability of cooperatives and mutuals and
gives them an opportunity to gain insights into how their sectors are performing on a global
scale. It is the only report of its kind collecting annual quantitative data on the global coop-
erative movement. The research and collaborations carried out over the last 12 years have
provided the cooperative movement with a significant tool to evaluate its own positioning
and have high¬lighted the importance of cooperation in the world to the general public and
policy makers.
The World Cooperative Monitor project

intends to pursue 3 goals:
2
Maintain an up-to-date database on
large cooperatives containing economic,
employee, and membership data
Provide visibility to the
movement by monitoring
and demonstrating
the impact of large
cooperatives, from both
an economic and a social
perspective
3
Respond to the knowledge needs
of large cooperatives, providing
both ad-hoc quantitative and
qualitative research on aspects
of their interest
8
REPORT 2023
The publication reports on the world’s largest cooperatives and mutuals, or groups of co-
operatives and mutuals, including rankings of the Top 300 and sectoral analysis. Each year,
the World Cooperative Monitor builds upon the research and data collection of the previous
years, continually refining and improving the methodology and data collection strategies.
The report has explored various themes over the past 12 years, from sector analysis to
capital structure to the contribution of cooperatives to sustainable development. This work
has resulted in the report being pointed to multiple times at the UN General Assembly by
Secretary General António Guterres as an important resource for demonstrating the impact
cooperatives have on resolving global challenges.
Besides the economic and employment data of the Top 300 cooperatives and mutuals at the
global level, this year’s report gives special attention to the topic of member benefits.
The focus chapter aims at analyzing the benefits that cooperatives and mutuals offer to
their members and how the cooperative identity is presented. The chapter explores the
narratives presented on the cooperatives’ and mutuals’ websites and compliments the past
chapter on the implementation of digital tools to manage participation and membership
engagement.
The thematic analyses in the World Cooperative Monitor are carried out in collaboration
with the International Cooperative Entrepreneurship Think Tank (ICETT). This collaboration
helps integrate cooperative issues of the moment with the WCM to stimulate strategic ac-
tion through best practice sharing amongst ICETT members, the top 300 cooperatives and
mutuals and the wider cooperative movement.
In addition to this collaboration, the team behind the WCM research has worked directly
with cooperatives, federations and representative bodies to collect the most accurate and
consistent data possible. National data collection initiatives help source additional and in-
depth data, helping to bring new elements to the research. The collaborations and scientific
rigor behind the research have resulted not only in the collection of robust data on the
world’s largest cooperatives and mutuals, but also in the strengthening of relationships and
cooperation among different stakeholders.
9
2021
Results
and Rankings
10 2023 Results and Rankings

REPORT 2023
This section presents the results The WCM provides two different Top 3001 and sectoral rankings: one based
of the economic analysis of on turnover and the other based on the ratio of turnover over Gross Domestic
Product (GDP) per capita2. The ratio of turnover over GDP per capita meas-
the world’s largest cooperative
ures the turnover of the Top 300 cooperative and mutual enterprises in terms
organisations, cooperative of the purchasing power of an economy, relating the turnover of the enter-
groups, and mutuals. prise to the wealth of the country. It allows us to compare the relative size of
enterprises in considering different levels of national economic wealth, but
does not compute the contribution of each enterprise to the national GDP.
Rather, it measures the size of the enterprise in its national context.
In addition to economic The data collected for the 2023 edition of the World Cooperative Monitor is
data, employment data from the fiscal year 2021. The primary sources of data include annual and
sustainability reports, existing databases of economic data, data collected
and organisation type are
by national associations, research institutes, and other organisations, and
also presented for the the use of a questionnaire to collect data directly from enterprises3. Over
Top 300 where available. the last few years we have concentrated efforts on collecting turnover and
employment data through the search for annual and sustainability reports
for each organisation in the Top 300 ranking of the WCM 2023 rather than
relying primarily on external datasets. This strategy helps ensure data is
1
It should be noted that due to limited data sources, the Top 300 rankings cannot
be considered exhaustive. However, it should also be noted that based on the conso-
lidated data collection methods refined over the last eleven years, the rankings in the
WCM 2023 represent a very important part of largest cooperatives worldwide (for more
detailed information on data collection, please see the Methodology and Data sources
chapter).
2
GDP per capita data is sourced from the World Bank.
3
The complete list of data sources is in the methodology chapter.
2023 Results and Rankings 11

collected using the same methodology and has contributed to the increased coverage of
employment data in the rankings. When online research (in the tables the source is la-
belled “desk research”) is incomplete, other data sources are utilized, though when multiple
sources are available, the desk research is utilized. This strategy has led to the building of
an archive of financial statements and annual reports from the last few years. The WCM
team is also supported by researchers and federations around the world that help source
and verify data – we thank everyone involved for these efforts and collaborations.
Data for 2021 comes from4:
Top 300 based

on turnover
244
47
6
3
81.3% 15.7% 2.0% 1.0%
Desk research Existing rankings Private databases Submitted
Top 300
255
turnover/GDP
per capita
36
6 3
85.0% 12.0% 2.0% 1.0%
Desk research Existing rankings Private databases Submitted
4
It should be noted that the data sources breakdown refers only to the economic data sources, where
a priority is based on annual reports (desk research) even when an organization submits a questionnaire.

REPORT 2023
The Top 300 by turnover ranking presents an overall total of 2,409.41 billion USD for the year
2021 with most of the enterprises operating in the agricultural sector (105 enterprises) and
insurance sector (96 enterprises), followed by wholesale and retail trade (57 enterprises).
The Top 300 by turnover over GDP per capita sees the agriculture sector standing out with
103 organisations, whereas the insurance sector counts 87 enterprises, followed by whole-
sale and retail trade (56 enterprises). The financial service sector become more visible in
the turnover over GDP per capita ranking with 39 enterprises with compared to 27 enter-
prises in the Top 300 by turnover. Note that in the Top 300 rankings, the financial services
sector turnover is calculated using slightly different indicators than in the financial services
sector ranking. For a more detailed description see the methodology.
TOP 300 TURNOVER USD

Economic activities
9 3
27 3.0% 1.0% 3 SECTOR LEGEND
9.0% 1.0%
Agriculture and food industries (including fishing)
Insurance
57 Wholesale and retail trade
19.0% Financial service

105 Industry and Utilities
35.0%
Education, health and social work
Other services (including housing)
96
32.0%

TOP 300 TURNOVER/GDP PER CAPITA

Economic activities
8 5 2
2.7% 1.7% SECTOR LEGEND
39 0.7% Agriculture and food industries (including fishing)
13.0%
Insurance
Wholesale and retail trade
Financial service
56 103 Education, health and social work

18.7% 34.3% Industry and Utilities
Other services (including housing)
87
29.0%
With regards to type, the majority of enterprises in the Top 300 by turnover are produc-
er cooperatives mainly representing agricultural cooperatives and retailers’ cooperatives
(130, to which is added one producer/consumer), followed by mutuals (80) and consumer/
user cooperatives (72). 11 of the top 300 are non-cooperatives controlled by cooperatives,
while only 5 are worker cooperatives and 2 are multi-stakeholder cooperatives. The re-
sults are similar in the Top 300 based on turnover over GDP per capita, though there are
more consumer/user cooperatives than mutuals, respectively 80 and 71 organisations.

REPORT 2023
TOP 300 TURNOVER USD Producer 129

Type 43.0%
Mutual 80
26.7%
Consumer/User 72
23.7%
Non Coop controlled by coop(s) 11

3.7%
Worker 5
1.7%
Multistakeholder 2
0.7%
Producer+Consumer/User 1
0.3%
TOP 300 TURNOVER/GDP PER CAPITA Producer 125

Type 41.7%
Consumer/User 80
26.7%
Mutual 71
23.7%
Non Coop controlled by coop(s) 13

4.3%
Worker 8
2.7%
Multistakeholder 2
0.7%
Producer+Consumer/User 1
0.3%

The geographical distribution of the Top 300 by turnover and the Top 300 by turnover over
GDP per capita is similar to past years, with most of the large cooperatives and mutuals
in the Top 300 rankings located in the most industrialized countries. The Top 300 by turn-
over over GDP per capita, though, has a larger number of countries, as it is not based on
absolute value.
TOP 300 TURNOVER USD

geographical distribution EUROPE
_
France 40
Germany 31
Netherlands 17
AMERICAS Italy 13
_
USA 73 Denmark 10
Brazil 12 Finland 10
Canada 7 Spain 8
Argentina 2 Norway 7
Total 94 Sweden 7
Switzerland 6
UK 6
Austria 4
Belgium 4
Poland 2
Ireland 1
Total 166
ASIA-PACIFIC
_
Japan 21
New Zealand 5
Republic of Korea 4
Australia 3
India 3
Singapore 2
Malaysia 1
Saudi Arabia 1
Total 40

REPORT 2023
TOP 300 TURNOVER/GDP PER CAPITA

geographical distribution EUROPE
_
France 40
Germany 28
Italy 15
Netherlands 14
Spain 11
Finland 10
Denmark 8
Sweden 7
UK 5
Switzerland 5
Norway 4
Austria 4
Belgium 3
Poland 2
Turkey 1
Portugal 1
Total 158
ASIA-PACIFIC
_
AMERICAS
_ Japan 23
USA 41 India 15
Brazil 21 New Zealand 5
Colombia 10 Republic of Korea 4
Canada 7 AFRICA Australia 3
Argentina 5 _
Kenya 1 Singapore 2
Costa Rica 1 Malaysia 1
Total 1
Mexico 1 Saudi Arabia 1
Uruguay 1 Total 54
Total 87

TOP 300 TURNOVER USD: TOP 10
Rank Organisation Country Economic Type Turnover 2021 Number of FTE or

2021 Activity (Billion US$) Employees 2021 Headcount
1 Groupe Crédit Agricole France Consumer/ 117.01 147,000 Headcount

User
2 REWE Group Germany Producer 82.03 257,996 Headcount
3 Groupe BPCE France Consumer/ 64.06 99,900 Headcount

User
4 Nonghyup (National Republic Producer 61.17 27,865 Headcount

Agricultural Cooperative of Korea
Federation - NACF)
5 ACDLEC Leclerc France Producer 60.56 138,000 Not indicated
6 Cooperative Financial Germany Consumer/ 59.82 170,614 Not indicated

Network Germany - BVR User
7 Talanx Group Germany Mutual 53.82 23,316 Headcount
8 Edeka Zentrale Germany Producer 51.97 83,534 Headcount
9 Groupe Crédit Mutuel France Consumer/ 49.36 83,141 Headcount

User
10 Nippon Life Japan Mutual 49.07 92,737 Headcount

REPORT 2023
TOP 300 TURNOVER/GDP PER CAPITA: TOP 10
Rank Organisation Country Economic Type Turnover/GDP Number of FTE or

2021 Activity per capita 2021 Employees 2021 Headcount
1 IFFCO India Producer 3,321,512.57 4,362 Headcount
2 Gujarat Cooperative India Producer 2,809,573.69 1,500/1,700 Not indicated

Milk Marketing
Federation Ltd (AMUL)
3 Groupe Crédit Agricole France Consumer/ 2,680,001.60 147,000 Headcount

User
4 Sistema Unimed Brazil Worker 2,027,885.39 135,854 Headcount
5 Copersucar SA Brazil Non Coop 1,803,571.29 637 Headcount
6 Nonghyup (National Republic of Producer 1,747,743.95 27,865 Headcount

Agricultural Cooperative Korea
Federation - NACF)
7 REWE Group Germany Producer 1,602,037.58 257,996 Headcount
8 Groupe BPCE France Consumer/ 1,467,379.98 99,900 Headcount

User
9 ACDLEC Leclerc France Producer 1,387,029.78 138,000 Not indicated
10 Nippon Life Japan Mutual 1,232,156.79 92,737 Headcount

Top 300
TOTAL TURNOVER
2,409.41
BILLION US$
Top 300 Turnover

USD TURNOVER BRACKET
TURNOVER
BRACKET 50 10 | 50 5 | 10 2|5 2
(US$) BLN BLN BLN BLN BLN
ORGANISATIONS
8 46 57 112 77
2.7% 15.3% 19.0% 37.3% 25.7%

REPORT 2023
SECTOR RANKINGS
The following pages present the World Cooperative Monitor rankings by sector of activity.
The results presented in the rankings are to be considered exploratory, not exhaustive.
The methodology found on page 148 provides details concerning the data collection and
analysis; however, some key points to keep in mind regarding the rankings include:
• If an organisation performs more than one activity, it is categorized in the sector

representing its primary activity. Organisations are classified by economic activity, in
some cases multiple economic activities have been combined into a sector.
• Comparisons among cooperatives in different sectors should be made with due cau-
tion, keeping in mind that varying economic indicators have been used for different
types of organisations (banking income for banks, premium income for insurance
cooperatives and mutuals, and turnover for other cooperatives).
• The rankings in this edition are based on data from 2021. To create the Top 300 and
sector rankings based on U.S. Dollars (USD) the 2021 average exchange rate was
utilized. Note that the conversion to USD from Local currency unit (LCU) is impacted
by the fluctuations from year to year.

FOTO
settore

REPORT 2023
Agriculture
and food industries
This section includes all cooperatives that operate along the entire agri-
cultural value chain, starting from the cultivation of agricultural products
and livestock farming to the industrial processing of agricultural products
and animals. This sector includes both agricultural producers’ coopera-
tives and consortia of cooperatives (or similar arrangements) that carry
out the processing and marketing of agricultural goods for their mem-
bers. Organisations in the fishing sector are included. Agricultural coop-
eratives exist in almost every country around the world. They are very well
represented in both developed and emerging economies and contribute
to food security and poverty reduction in different areas of the world. They
help farmers increase their returns and income by pooling their resources
to support collective arrangements and economic empowerment.
From this sector, there are 105 in the Top 300 based on turnover
and 103 in the Top 300 turnover over GDP per capita
Mark Stebnicki. Pexels

TOP 10 BY TURNOVER USD
Rank Rank Organisation Country Type Turnover 2021 Source Number of FTE or
2021 2020 (Billion US$) Employees 2021 Headcount
1 2 Nonghyup Republic of Producer 61.17 Submitted 27,865 Headcount

(National Agricultural Korea
Cooperative Federation
- NACF)
2 1 National Federation Of Japan Producer 38.91 Desk 26,632 Headcount

Agricultural Cooperative Research
Associations - ZEN-
NOH
3 3 CHS Inc. USA Producer 38.45 Desk 9,941 Headcount

Research
4 4 Bay Wa Germany Non Coop 23.46 Desk 21,185 Headcount

Research
5 5 Dairy Farmers USA Producer 19.30 Desk

of America Research
6 6 Land O’Lakes USA Producer 16.00 Desk 9,000 Not indicated

Research
7 8 Fonterra Cooperative New Zealand Producer 14.92 Desk 19,608 Headcount

Group Research
8 7 Hokuren Japan Producer 14.30 Desk 1,806 Not indicated

Research
9 - Copersucar SA Brazil Non Coop 13.88 Desk 637 Headcount

Research
10 9 FrieslandCampina Netherlands Producer 13.60 Desk 22,961 FTE

Research

REPORT 2023
TOP 10 BY TURNOVER/GDP PER CAPITA
Rank Rank Organisation Country Type Turnover/GDP Source

2021 2020 per capita 2021
1 1 IFFCO India Producer 3,321,512.57 Desk Research
2 2 Gujarat Cooperative Milk India Producer 2,809,573.69 Desk Research

Marketing Federation Ltd (AMUL)
3 5 Copersucar SA Brazil Non Coop 1,803,571.29 Desk Research
4 4 Nonghyup (National Agricultural Republic of Producer 1,747,743.95 Submitted

Cooperative Federation - NACF) Korea
5 3 National Federation Japan Producer 976,956.81 Desk Research

Of Agricultural Cooperative
Associations - ZEN-NOH
6 6 Kribhco India Producer 797,549.97 Desk Research
7 7 Coamo Brazil Producer 571,200.51 Desk Research
8 8 CHS Inc. USA Producer 547,540.90 Desk Research
9 - Cooperativa Central Aurora Alimentos Brazil Producer 468,912.32 Desk Research
10 10 Bay Wa Germany Non Coop 458,259.27 Desk Research

FOTO
settore

REPORT 2023
Industry
and utilities
This section includes cooperatives operating in industrial sectors with the
exception of the food industry as well as those whose economic activity
deals with utilities. It includes worker cooperatives in the construction
sector and users’ cooperatives in the utilities sector, that is, cooperatives
that are active in the management of infrastructure for a public service,
such as electricity, natural gas, and water. Energy and other public ser-
vices are sectors in which cooperatives are strongly motivated by ethi-
cal-cultural considerations and innovation. Often, they are committed to
“green” energy and employ a more sustainable and responsible model of
development, while providing local communities with the power to inter-
vene directly in their own futures.
Casablanca. Pexels

1 1 Corporación Mondragón Spain Worker 13.49 Desk 80,000 Headcount

Research
2 9 Andel Group Denmark Consumer/ 8.96 Desk 2,256 Headcount

User Research
3 2 Basin Electric Power USA Consumer/ 2.63 NCB

Coop. User
4 8 SACMI Italy Worker 1.82 Desk 4,634 Headcount

Research
5 7 Norlys Amba (Ex Eniig Denmark Consumer/ 1.77 Desk 2,775 Headcount
Amba) User Research
6 4 Oglethorpe Power USA Consumer/ 1.60 Desk 320 Headcount

Corporation User Research
7 10 Assoc. Electric Coop. USA Consumer/ 1.48 NCB

Inc. User
8 5 Tri-State G&T USA Consumer/ 1.40 Desk 1,191 Not indicated

Association User Research
9 6 Central Electric Power USA Consumer/ 1.33 NCB

Coop. User
10 - EBM -Primeo Energie Switzerland Consumer/ 1.25 Desk 675 Headcount

User Research

REPORT 2023

2021 2020 per capita 2021
1 1 Corporación Mondragón Spain Worker 448,053.03 Desk Research
2 10 Andel Group Denmark Consumer/User 131,778.83 Desk Research
3 2 ULCCS Ltd India Worker 86,438.84 Desk Research
4 3 SACMI Italy Worker 50,887.19 Desk Research
5 5 Basin Electric Power Coop. USA Consumer/User 37,397.03 NCB
6 8 Norlys Amba (Ex Eniig Amba) Denmark Consumer/User 25,966.13 Desk Research
7 - C.M.B. Italy Worker 25,521.89 Desk Research
8 6 Oglethorpe Power Corporation USA Consumer/User 22,854.96 Desk Research
9 - Assoc. Electric Coop. Inc. USA Consumer/User 21,133.74 NCB
10 7 Tri-State G&T Association USA Consumer/User 19,948.90 Desk Research

FOTO
settore

REPORT 2023
Wholesale
and retail trade
This section includes retailers’ cooperatives formed to purchase and sup-
ply goods and services at competitive conditions in the interest of their
members (which are classified as producer cooperatives in the coopera-
tive typology) and consumer cooperatives operating in wholesale and re-
tail activities (which are classified as consumer/user cooperatives in the
cooperative typology). As is the case with cooperatives in general, the aim
of cooperatives in this sector is not to maximize profits, but to be of use
to their members and defend their interests. The goals of cooperatives
include fostering sustainable development of local communities, promot-
ing environmental concerns and ensuring the health and safety of con-
sumers. With strength in numbers, cooperatives are able to further these
aims through their ability to purchase and supply goods and services at
competitive conditions in the interest of their members.
Tiger Lily. Pexels

1 1 REWE Group Germany Producer 82.03 Desk 257,996 Headcount

Research
2 2 ACDLEC Leclerc France Producer 60.56 Desk 138,000 Not indicated

Research
3 3 Edeka Zentrale Germany Producer 51.97 Desk 83,534 Headcount

Research
4 4 Coop Swiss Switzerland Consumer/ 34.88 Desk 95,420 Headcount

User Research
5 5 Migros Switzerland Consumer/ 31.66 Desk 97,541 Headcount

User Research
6 6 Système U France Producer 27.17 Desk 3,030 Headcount

Research
7 7 Conad Italy Producer 20.11 Desk 72,636 Headcount

Research
8 8 Coop Italia Italy Consumer/ 16.91 Desk 55,592 Not indicated

User Research
9 9 Co-operative UK Consumer/ 15.34 Desk 6,644 Headcount

Group Limited User Research
10 10 John Lewis UK Non Coop 14.85 Desk 80,900 Headcount

Partnership PLC Research

REPORT 2023

2021 2020 per capita 2021
1 1 REWE Group Germany Producer 1,602,037.58 Desk Research
2 2 ACDLEC Leclerc France Producer 1,387,029.78 Desk Research
3 3 Edeka Zentrale Germany Producer 1,014,926.32 Desk Research
4 4 Système U France Producer 622,267.07 Desk Research
5 5 Conad Italy Producer 562,106.72 Desk Research
6 6 Coop Italia Italy Consumer/User 472,830.95 Desk Research
7 7 Coop Swiss Switzerland Consumer/User 379,130.05 Desk Research
8 8 Migros Switzerland Consumer/User 344,157.59 Desk Research
9 9 Co-operative Group Limited UK Consumer/User 329,219.95 Desk Research
10 10 John Lewis Partnership PLC UK Non Coop 318,857.09 Desk Research

FOTO
settore

REPORT 2023
Insurance
This section focuses on mutual organisations and cooperatives owned
and democratically controlled by their insured customers. Insurance co-
operatives and mutuals focus on the long-term needs of their customers
and on delivering high quality products at fair prices. According to the In-
ternational Cooperative and Mutual Insurance Federation (ICMIF), mutual
or cooperative insurers serve more than 900 million people worldwide.
Their contribution is crucial within the social protection system, enabling
members to obtain insurance policies at more favorable conditions than
those available on the open market.
Kampus Production. Pexels

Rank Rank Organisation Country Type Premium Income Source Number of FTE or
2021 2020 2021 (Billion US$) Employees 2021 Headcount
1 2 Talanx Group Germany Mutual 53.82 Desk 23,316 Headcount

Research
2 1 Nippon Life Japan Mutual 49.07 Desk 92,737 Headcount

Research
3 3 Zenkyoren (National Japan Producer 42.39 Desk 6,826 Headcount

Mutual Insurance Research
Federation of Agricultural
Cooperatives)
4 4 State Farm USA Mutual 42.23 Desk 132 Headcount

Research
5 5 Liberty Mutual USA Mutual 41.94 Desk 45,000 Not

Research indicated
6 6 Meiji Yasuda Life Japan Mutual 25.60 Desk 47,415 Headcount

Research
7 7 Achmea Nether- Consumer/ 23.69 Desk 14,800 FTE

lands User Research
8 9 Northwestern Mutual USA Mutual 22.77 Desk 3,590 FTE

Research
9 10 COVEA France Mutual 22.68 Desk 23,000 Headcount

Research
10 8 Sumitomo Life Japan Mutual 21.98 Desk 45,336 Headcount

Research

REPORT 2023
Rank Rank Organisation Country Type Premium Income/ Source

2021 2020 GDP per capita 2021
1 1 Nippon Life Japan Mutual 1,232,156.79 Desk Research
2 2 Zenkyoren (National Mutual Japan Producer 1,064,386.36 Desk Research

Insurance Federation of
Agricultural Cooperatives)
3 3 Talanx Group Germany Mutual 1,051,156.78 Desk Research
4 6 Meiji Yasuda Life Japan Mutual 642,798.41 Desk Research
5 4 State Farm USA Mutual 601,400.13 Desk Research
6 5 Liberty Mutual USA Mutual 597,284.46 Desk Research
7 7 Sumitomo Life Japan Mutual 551,788.38 Desk Research
8 8 COVEA France Mutual 519,536.71 Desk Research
9 - Groupama France Mutual 412,776.81 Desk Research
10 9 Achmea Netherlands Consumer/ 410,437.23 Desk Research

User

FOTO
settore

REPORT 2023
Financial service
This section refers to cooperative banks and credit unions providing bank-
ing and financial intermediation services, democratically controlled by
member customers (borrowers and depositors). In the financial service
sector, cooperatives play a central role in supporting economic develop-
ment. Even during economic crises, cooperatives have remained more
stable than other banks, continuing to provide trustworthy financial sup-
port for their members.
Karolina Grabowska. Pexels

Rank Rank Organisation Country Type Banking Income Source Number of FTE or
2021 2020 2021 (Billion US$) Employees 2021 Headcount
1 1 Groupe Crédit France Consumer/ 67.76 Desk 147,000 Headcount

Agricole User Research
2 2 Cooperative Germany Consumer/ 30.61 Desk 170,614 Not indicated

Financial Network User Research
Germany - BVR
3 3 Groupe BPCE France Consumer/ 30.42 Desk 99,900 Headcount

User Research
4 4 Groupe Crédit France Consumer/ 24.97 Desk 83,141 Headcount

Mutuel User Research
5 6 Rabobank Netherlands Consumer/ 14.39 Desk 43,361 FTE

User Research
6 5 Mouvement Canada Consumer/ 13.29 Desk 53,783 Headcount

Desjardins User Research
7 8 RBI (Raiffeisen Bank Austria Consumer/ 6.59 Desk 46,185 FTE

International) User Research
8 7 Navy Federal Credit USA Consumer/ 6.12 Desk

Union User Research
9 9 Gruppo Bancario Italy Consumer/ 5.36 Desk 22,084 Headcount

Cooperativo Iccrea User Research
10 - OP Group - Pohjola Finland Consumer/ 4.81 Desk 13,074 Headcount

Pankki Oyj User Research

REPORT 2023
Rank Rank Organisation Country Type Banking Income/GDP Source

2021 2020 per capita 2021
1 1 Groupe Crédit Agricole France Consumer/User 1,552,118.83 Desk Research
2 3 Groupe BPCE France Consumer/User 696,657.38 Desk Research
3 2 Cooperative Financial Germany Consumer/User 597,889.16 Desk Research

Network Germany - BVR
4 4 Groupe Crédit Mutuel France Consumer/User 571,900.55 Desk Research
5 5 Sicoob Brazil Consumer/User 410,019.75 Desk Research
6 7 Sicredi Brazil Consumer/User 367,308.28 Desk Research
7 6 Mouvement Desjardins Canada Consumer/User 253,856.49 Desk Research
8 9 Rabobank Netherlands Consumer/User 249,406.31 Desk Research
9 8 Co-operative Bank of Kenya Kenya Non Coop 212,792.09 Desk Research

Ltd (CBK)
10 10 Gruppo Bancario Cooperativo Italy Consumer/User 149,900.01 Desk Research

Iccrea

FOTO
settore

REPORT 2023
Education,
health
and social work
This section includes cooperatives that manage educational, health or

social services. These may include consumer (user), producer (provider)
and multistakeholder social and health cooperatives that seek to provide
high-quality, cost-effective community health care and social servic-
es. The contributions of health and social care cooperatives range from
medical intervention to the prevention of disease and the improvement of
general health outcomes and collective well-being. The impact of these
organisations is all the more important given the increasing demands on
welfare systems around the world due in part to cuts in public funding and
an aging population.
CDC. Pexels

1 1 Sistema Unimed Brazil Worker 15.61 Submitted 135,854 Headcount
2 2 HealthPartners Inc. USA Consumer/ 7.74 NCB

User
3 3 Fundación Espriu Spain Worker 2.18 Submitted 6,939 Headcount
4 4 Aichiken Welfare Japan Producer 1.21 Desk 6,875 Headcount

Federation of Agricultural Research
Cooperatives
5 7 Coosalud Sa Colombia Consumer/ 0.90 Desk 2,733 Headcount

User Research
6 - Hokkaido Welfare Japan Producer 0.88 Desk 5,162 FTE

Federation of Agricultural Research
Cooperatives
7 6 Japan Culture and Japan Producer 0.78 Desk

Welfare Federation of Research
Agricultural Cooperatives
8 5 Grupo Empresarial Colombia Consumer/ 0.69 Desk 1,910 Headcount

Cooperativo Coomeva User Research
9 9 Asmet Salud Eps Sas Colombia Consumer/ 0.60 Desk 1,718 Headcount
User Research
10 8 Emssanar Sas Colombia Consumer/ 0.58 Desk 318 Headcount

User Research

REPORT 2023

2021 2020 per capita 2021
1 1 Sistema Unimed Brazil Worker 2,027,885.39 Submitted
2 3 Coosalud Sa Colombia Consumer/ User 145,479.67 Desk Research
3 2 Grupo Empresarial Colombia Consumer/User 111,355.09 Desk Research

Cooperativo Coomeva
4 4 HealthPartners Inc. USA Consumer/User 110,197.35 NCB
5 6 Asmet Salud Eps Sas Colombia Consumer/User 97,336.60 Desk Research
6 5 Emssanar Sas Colombia Consumer/User 94,232.42 Desk Research
7 8 Fundación Espriu Spain Worker 72,538.81 Submitted
8 10 Aichiken Welfare Japan Producer 30,408.54 Desk Research

Cooperatives
9 - Hokkaido Welfare Japan Producer 22,099.20 Desk Research

Cooperatives
10 - Japan Culture and Japan Producer 19,651.36 Desk Research

Welfare Federation of
Agricultural Cooperatives

FOTO
settore

REPORT 2023
Other services
This section covers all cooperatives that provide services other than those
included in education, health and social work, including housing, cooper-
ative business services, communications and transportation. The cooper-
atives in this sector show the variety of sectors of activity in which cooper-
atives may operate as well as the potential areas for further development
of service-oriented cooperatives.
Jimmy Chan. Pexels

1 - DATEV* Germany Producer 1.44 Desk 8,351 Not indicated

Research
2 1 OBOS BBL Norway Consumer/ 1.36 Desk 2,622 Headcount

User Research
3 2 Manutencoop Italy Worker 1.32 Aida 27,528 Headcount
4 3 Coopservice Italy Worker 1.32 Desk 5,166 Headcount

Research
5 5 HSB Riksförbund Sweden Consumer/ 1.20 Desk 338 Headcount

User Research
6 4 Riksbyggen Sweden Consumer/ 1.15 Desk 2,641 Not indicated

(co-operative Housing User Research
Union)
7 6 F.A.I. Service Italy Worker 0.70 Aida 75 Headcount
8 7 Up Group France Worker 0.67 Desk 3,000 Headcount

Research
9 8 CNS Italy Worker 0.60 Desk 107 Headcount

Research
10 9 CIR S.C. Italy Worker 0.56 Aida 12,118 Headcount

(CIR FOOD S.C.)
* in the current edition we have corrected the economic sector from wholesale and retail trade to other services

REPORT 2023

2021 2020 per capita 2021
1 1 Manutencoop Italy Worker 36,990.89 Aida
2 2 Coopservice Italy Worker 36,825.23 Desk Research
3 - DATEV* Germany Producer 28,168.85 Desk Research
4 10 HSB Riksförbund Sweden Consumer/ 19,604.39 Desk Research

User
5 3 F.A.I. Service Italy Worker 19,433.97 Aida
6 6 Riksbyggen (co-operative Sweden Consumer/ 18,878.48 Desk Research

Housing Union) User
7 5 CNS Italy Worker 16,654.00 Desk Research
8 8 CIR S.C. (CIR FOOD S.C.) Italy Worker 15,734.99 Aida
9 9 Up Group France Worker 15,322.34 Desk Research
10 4 OBOS BBL Norway Consumer/ 15,043.83 Desk Research

User
* in the current edition we have corrected the economic sector from wholesale and retail trade to other services

Cooperative
Members
Benefits
50 Cooperative Members Benefits

REPORT 2023
INTRODUCTION
A cooperative is an organization based on membership, jointly owned and democratically

controlled by its members. Democracy has been a fundamental element of cooperative
businesses since their inception. In the 2022 survey on the Cooperative Identity, conducted
by the International Cooperative Alliance (ICA), respondents emphasized the importance
of focusing on their members and promoting economic equity, equality and justice (ICA,
2023). However, concerns have been raised about large cooperatives and mutuals poten-
tially losing sight of their members’ interests as they prioritize their business objectives.
The size of these organizations often hinders the same level of dynamism in democracy
and participation seen in smaller cooperatives and mutuals. Some larger entities have
faced challenges maintaining their cooperative identity, with instances of demutualiza-
tion. Critics argue that these organizations not only lose their own cooperative identity but
also attempt to conceal it to align with the dominant normative power of investor-owned
companies in the contemporary economic system (DiMaggio & Powell, 1983).
This chapter aims to explore whether ‘hiding their cooperative identity’ is a deliberate
strategy employed by large cooperatives and mutuals and how they communicate their
cooperative identity through tangible and intangible benefits for their members.
METHODOLOGY
To provide an overview of large cooperatives and mutuals and their member benefits,
we analyzed 76 out of 81 organizations in the top10 sector rankings both by turnover
and by turnover over GDP per capita from the World Cooperative Monitor 20221. Data
1
The organizations that were no longer active, nor longer cooperative, or on liquidation have been
excluded from the analysis.
Cooperative Members Benefits 51

collection relied on information available on the organizations’ websites. We primarily

analyzed English versions of the websites, resorting to translation using the Google
Translate tool when the English content was limited or served as a mere showcase for
non-local audiences.
Texts related to how the cooperative or mutual presents itself in terms of ‘cooperative
identity (or as a mutual)’ were gathered from sections such as ‘About us’, ‘Our organiza-
tion’, ‘Mission’ and ‘Mission and values’. Information on member participation and bene-
fits was sought in sections like ‘Members’, ‘Membership’, ‘Become a member’, and ‘Join
us’ or, when unavailable, in the organization’s Ethical Code. The sample is composed of 76
organizations, varying in size, location and economic sector (Appendix 1 and 2).
The collected data underwent conceptual coding, focusing on two primary categories:
cooperative identity and member benefits. The coded texts were systematically organized
to delineate a conceptual framework, subsequently employed for a comparative analysis
of the cases across various sectors and types.
COOPERATIVE IDENTITY
More than 80 per cent of the analyzed cooperatives and mutuals explicitly state their iden-
tity as a cooperative or a mutual insurance, often specifying sectors and organizational
forms2. Over half of the examined entities explicitly declare the values and principles of
cooperativism and mutualism on their websites. The ‘About us’ section is commonly utilized
to reinforce the strong connection between organization identity and cooperative values and
principles. Some organizations (17%) have dedicated sections listing all ICA cooperatives’
2
“Cooperative financial group”, “cooperative and mutual bank”, “a meaningful cooperative”, “not-for-
profit generation and transmission cooperative”, “cooperative insurer”, “cooperative company”, “mutual
company”, “movement of cooperatives of retailers”, “labour cooperative”, “cooperative association”, “mu-
tual manufacturing and working cooperative company”, “consortium of cooperatives”, “independent and
not-for-profit electric distribution cooperatives”, “an electric generation and transmission cooperative”, “a
global agribusiness cooperative”

REPORT 2023
values and principles with brief explanations. Propensity exists to highlight organizational
type and governance form, using words like ‘community’, ‘people’, ‘transparency’ to express
pride in being a cooperative or mutual. For example, Coop Italia defines itself as “a compa-
ny, a movement of people and a collective subject based on a cooperative”.
The historical aspect serves as another avenue for showcasing the identity or origin
of cooperatives and mutuals. In cases where the current large and complex structures
might not explicitly state their identity as cooperatives and mutuals due to their intricate
organizational forms, they often refer to their historical origin as a cooperative or mutual
insurance3. Given that many large cooperatives have a long history marked by mergers,
renaming, and the creation of various brands and subsidiaries, a considerable number of
them allocate a dedicated section on their website to narrate their history.
The ways of conducting business that cooperatives and mutuals claim reflect their
identity. Expressions related to relational dimensions are often used; they ‘work together’
and ‘connect people’, form ‘partnerships’ and ‘coalitions’ with external stakeholders, and
‘pool resources’ to best meet members’ needs. They “build a value chain that benefits
members and the local community (Sicredi)”. The enhanced relationships among mem-
bers and with external partners allows cooperatives and mutuals to “create an environ-
ment of mutual understanding, respect and trust (Raiffeisen Bank International)”. Unlike
investor-owned companies, cooperatives view money as a tool and don’t divide profits to
enrich capital investors but “accumulate resources to invest for the benefit of the commu-
nity and in anticipation of future challenges (Coop Italia)”. Surpluses are “reinvested for
the benefit of members, users, service quality and technology innovation, thus ensuring
cooperative’s sustainability (Fundación Espriu)”.
Some cooperatives and mutuals (37%) present their structure, emphasizing that they
are ‘established’, ‘owned’, ‘governed’ and ‘managed’ by members. Northwestern mutu-
3
“We were founded more than two hundred years ago from the conviction that you are stronger togeth-
er than alone (Achmea)”, “Our roots date back to 1927 when 17 purchasing cooperatives decided to join
forces with the goal of collectively organising the purchase of food (REWE Group)”

al, for example, states that “we don’t have shareholders, so instead of reporting to Wall
Street, we report to our policyowners”. This member-based structure is seen as “a key
strength that keeps them focus on their missions (Assoc. Electric Coop. Inc.)”. Some sec-
ond or third-level cooperatives describe their structures more in detail, clarifying their
relationship with member-cooperatives to which individual user-members belong4. Be-
yond a mere statement, they explain how they operate as a cooperative or mutual, placing
members at the “heart of everything they do” (Navy Federal Credit Union). They ‘serve’,
‘help’, ‘empower’, ‘strengthen’, ‘stand for’ their members and “give them the support
they need to ensure they are ready for the future (Mouvement Desjardins)”. They ‘focus
on’ and ‘meet’ members’ needs and ‘make decisions based on members’ needs’. They
also “bring value to members (Navy Federal Credit Union)” and “add value to members’
activities (Coamo)”.
Members are not just clients; they ‘own’ their cooperatives and must ‘act responsibly’,
‘contribute to’ and ‘give dynamism to’ their cooperatives’ development. Members are ex-
pected to be normative and ethical actors who “attach to democratic and solidarity values,
desire to participate in the development of social progress (ACDLEC Leclerc)”, and “are
driven by a commitment to solidarity (Corporación Mondragón)”. Fonterra Cooperative
describe their members as “good people who work together to do good things with dairy,
good things with the land we work on and good things for the people that our products
end up with”.
Sometimes, cooperatives and mutuals indirectly explain their identity by describing spe-
4
“Organized into three operational levels that link individual cooperatives, central cooperatives and
the Sicoob Cooperative Center (Sicoob)”, “our customers are 38 of Georgia’s electric membership corpo-
rations (Oglethorpe Power Corporation)”, “the national-level financial institution for agricultural, fishery
and forestry cooperatives (The Norinchukin bank)”, “a three-tiered structure with the dairy cooperative
societies at the village level federated under a milk union at the district level and a federation of member
unions at the state level (Gujarat Cooperative Milk Marketing Federation Ltd (AMUL))”, “owned by and
delivers power to eight distribution cooperatives (Central Electric Power Coop.)”, “a parent company of the
Iccrea Cooperative Banking Group (Gruppo Bancario Cooperativo Iccrea)”

REPORT 2023
cific natures5 or using the term ‘cooperative model’, emphasizing their dynamics rather
than organizational structures. Emphasis on ‘cooperation’, ‘mutual aid’ and ‘mutuality’ is
another way to describe their identity, and to some extent, the expression of a ‘collective
path’ or ‘collective approach’ describes the collective dimension of cooperatives. Beyond
core business activities, some cooperatives describe their cooperative activities, aligning
them with cooperative principles and values6.
MEMBER BENEFITS
While being a member of a cooperative or mutual involves having a say in decision-making
for the organization, members gain access to much more than just decision-making power.
To comprehend the motivations behind becoming a member, it is crucial to examine what
and how cooperatives and mutuals offer to their members (Birchall & Simmons, 2004).
Member benefits can be broadly categorized into tangible and material aspects (services
and products, economic advantages) and intangible aspects (participation, contribution
to the community). Understanding the characteristics of the members is essential as it
influences the type of benefits that the organization addresses and offers. Additionally,
the economic sector is relevant when analyzing member benefits; and thus, the analysis
of the collected data considered these two aspects.
Primarily, cooperatives and mutuals extend benefits to their members through their
business activities. Depending on their economic activities, they outline various services
5
“Consumer governed nonprofit health care organization (HealthPartners Inc.)”, “cooperatively owned
energy and telecommunications group (Norlys Amba)”
6
“Devoted to the promotion and development of cooperative healthcare (Fundación Espriu)”, “promote
the economic, technological, social, educational and cultural development of its members (Coamo)”, “act
in accord with the fundamental definitions, values and principles of cooperative union activities (National
Federation Of Agricultural Cooperative Associations - ZEN-NOH)”, “creating value in a competitive and su-
stainable way … keeping up the differential cooperative principles and values (Asociación de Cooperativas
Argentinas)”

and products. While most primary cooperatives and mutuals provide detailed information
on the ‘quality’ of services and products for members and clients who are direct users
or consumers, second or third-level cooperatives specify how they support their mem-
ber-cooperatives. This highlights the advantage of the cooperative model, allowing local
cooperatives to benefit from economies of scale through networks, unions, consortia or
federations. In some cases, second or third-level cooperatives take a coordinating role,
presenting themselves as a unified business entity under the same brand or group name.
Consequently, their services to members appear as internal transactions, less visible to

external observers. For instance, some second-level cooperatives (Assoc. Electric Coop.
Inc. and Central Electric Power Coop.) and retailers’ cooperatives (Système U and Conad)
focus more on direct communication with final users/consumers, as their member-coop-
eratives or retailer-members are well integrated into the entire business system in using
a common payment system or common marketing tools. Similarly, some worker coop-
eratives have somewhat complex website structures, given that their primary marketing
target is clients who are not members. Nonetheless, these cooperatives make an effort to
convey their identity as worker cooperatives, expressing pride in this organizational struc-
ture. Consequently, the member benefits for member-cooperatives, retailer-members or
worker members may not be readily apparent or easily identifiable on their websites due
to these distinctive characteristics.
Capitalizing on economies of scale, some cooperatives provide additional services un-

related to their main business, such as discounted prices for services and products from
partners, insurance services, consulting services, education and training programs.
Although economic advantage is a common member benefit, it is not a fundamental

purpose but rather an outcome generated from the cooperative structure and mem-
bers’ common efforts. Many cooperatives and mutuals explain the economic advantag-
es their members can receive. Consumer/user cooperatives emphasize that ‘affordable
prices’ and/or ‘discounted prices’ are significant member benefits. Financial and insur-
ance cooperatives stress ‘lower fees’ and ‘higher interest rates’ as important indicators
for members’ economic benefits. For producer cooperatives, particularly agricultural
and retailers’ cooperatives, ‘improving members’ income’ is crucial. Although ‘better

REPORT 2023
income’ is also an essential benefit for worker-members in worker cooperatives, ex-

plicit information was found only for one case because it has been challenging to find
economic-related information on their website. Instead, all the worker cooperatives
highlight ‘better working conditions’ and ‘workers’ well-being’, expressing pride in their
identity. CIR S.C., and Italian worker cooperative, explicitly mention “continued employ-
ment” as its member benefit.
A specific mechanism for cooperative members’ economic benefit is ‘patronage (or re-
bates)’. Interestingly, while worker cooperatives use this concept very clearly, other types of
cooperatives sometimes use the term ‘dividend’ in a confusing way. Some use ‘dividends’
to explain the distributed surplus based on transactions that members made with their
cooperative, while others use it to indicate the distributed surplus (or profit) on members’
share capital. Financial cooperatives typically use the term ‘dividends’ or ‘profit dividends’.
Members’ participation is not only a fundamental aspect of the cooperative model but
also an important member benefit in itself. Members join cooperatives and mutuals not
only to use services and products but also to ‘share a joint project’. They participate in the
democratic governance structure by electing or being elected as members of the board
of directors and/or other leadership entities. They are also involved in controlling and
monitoring daily cooperative businesses through various structures. For instance, worker
cooperatives and employee-owned enterprises allow worker-members (partners for em-
ployee-owned enterprises) to join various committees, coordinating various workplace is-
sues and other cultural and social matters. For primary cooperatives operating at the na-
tional level, complementary systems for members’ participation, such as local members’
council (Rabobank, Coop Swiss, Co-operative Group Limited, Friesland Campania), board
of representatives (Arla Foods), thematic work commissions (Conad), are developed.
In addition to these primary benefits, analyzed cooperatives and mutuals provide various
other forms of member benefits, such as cooperative education programs, provision of in-
formation, and representation (more noticeable in second and third level of cooperatives).
While this analysis does not delve into how large cooperatives and mutuals express their
community benefits, it is essential to note that the analyzed cases emphasize their role in
enabling members to directly and/or indirectly contribute to various projects for the com-

munity, society, and the planet. As consumers’ ethical commitments evolve, the commu-
nity benefits made by cooperatives and mutuals should be considered a key benefit for
members who want to participate in societal transformation through their cooperatives
and mutuals.
CONCLUSION
In contrast to some critics, this chapter demonstrates that large cooperatives and mutu-
als do explicitly convey their identity as cooperatives or mutuals, albeit to varying degrees
and that the soul of cooperativism and mutuality is firmly presented to the public. They
employ diverse elements, including direct statements, historical narratives, structures,
business practices and descriptions of their cooperative nature, to elucidate their coop-
erative identity. Additionally, they highlight various member benefits, both tangible and
intangible, which vary according to the specific type of cooperative.
It is crucial to note that this research is grounded in information available on the websites
of the analyzed cooperatives and mutuals. Consequently, it should be recognized as an
examination of intentional communication strategies adopted by these entities. The arti-
cle sheds light on the aspects that may be considered to construct more comprehensive
and compelling arguments for members and the public. However, the true impact will be
realized through the concrete manifestation of these arguments in their organizational
structures, day-to-day practices, and the people involved, including leaders, members,
and employees. Further steps may involve the exchanges of best practices among large
cooperatives and mutuals and the development of reporting or evaluation tools to gauge
the implementation of these strategies more effectively.

REPORT 2023
REFERENCES
Birchall, J., & Simmons, R. (2004). “The Involvement of Members in the Governance of Large-Scale Co-op-
erative and Mutual Businesses. A Formative Evaluation of the Co-operative Group”, Review of So-
cial Economy, 62(4), 487-515.
DiMaggio, P.J. & Powell, W. (1983). “The iron case revisited: Institutional isomorphism and collective ratio-
nality in organizational fields”, American Sociological Review, 48, 147-60.
ICA (2023). What We Know about Our Cooperative Identity. Results of 2022 Survey. June, 2023. Brussels.
https://www.ica.coop/sites/default/files/2023-09/What%20we%20know%20about%20our%20
coop%20identity_EN.pdf

The International Cooperative Entrepreneurship Think Tank (ICETT) is a Think Tank of the ICA,
which was created in 2018 to foster cooperation among large cooperatives and cooperative
groups and create a platform for peer-to-peer learning on how to leverage their cooperative
identity and boost their entrepreneurial performance. As the ICETT is focusing on “Coopera-
tives’ benefits” as its main thematic area for 2023-2024 working cycle, ICETT members are
shaping the analysis of cooperative benefits to the members and the community based on
concrete examples from their own experiences and come up with recommendations that ICA
members and cooperatives around the world could use to evaluate their cooperative benefits
and enhance their impact in the society. Following, two cases are selected from those shared
at the last ICETT Plenary meeting in Brussels on November, 28th-29th 2023.
NATIONAL CO+OP GROCERS

National Co+op Grocers (NCG) is a business services cooperative for retail food co-ops
located throughout the United States. It represents 160 food co-ops operating over 230
stores in 39 states with combined annual sales of $2.5 billion and serving over 1.3 million
consumer-owners.
NCG provides the capacity of a chain while maintaining the autonomy of each individual
co-op. It helps unify retail food co-ops in order to optimize operational and marketing
resources, strengthen purchasing power, and ultimately offer more value to food co-op
owners and shoppers everywhere. NCG exists to maximize members’ success, inclusivity,
and impact, and to grow the cooperative grocery sector in size and scope in an envi-
ronmentally regenerative manner. It offers a variety of purchasing, management, devel-
opment and marketing services, and facilitates direct co-op-to-co-op support and peer
networking. NCG also advocates on behalf of co-ops on a number of issues, prioritized by
their owners. While not a chain, NCG does seek to provide food co-ops with many of the
advantages that large chain stores enjoy, while still enabling them to reflect the unique
qualities of their local communities. Membership in NCG is voluntary, as is participation
in NCG’s programs and services. Learn more about participating in NCG.

REPORT 2023
IFFCO
The Indian Farmers Fertiliser Cooperative Limited, also known as IFFCO, is a multi-state
cooperative society headquartered in New Delhi, India. IFFCO is wholly owned by 35,565
cooperative societies of India and is engaged in the business of manufacturing and mar-
keting of fertilizers. The membership of IFFCO is open to all cooperative societies from
primary/village level to state and national cooperatives who become member voluntarily
and contributed willingly to the share capital of IFFCO.
IFFCO is aligned with a sustainable future for farmers and it endeavors to provide solu-
tions to the challenge of growth with sustainability. IFFCO’s approach has been to offer
solutions that are adapted to suit local conditions and context. From being a foodgrain-de-
pendent nation to a foodgrain surplus one, it has contributed to fertilizers, in every nook
and corner of the country. It has also undertaken alternative measures for the conser-
vation and protection of the environment through Neem plantation. Through its member
cooperatives, IFFCO has established a comprehensive farmer support framework that
provides assistance to farmers both on the field and off the field. This is being achieved
through various initiatives taken by IFFCO and its associates. Learn more about IFFCO
and its activities here: https://www.iffco.in/en/corporate.

APPENDIX 1 NUMBER OF THE ORGANIZATIONS PER REGION AND COUNTRY, 2023
EUROPE
_
Italy 8
AMERICAS France 7
_
USA 13 Germany 5
Brazil 5 WORLD: 76 ORGANIZATIONS Denmark 3
Colombia 2 Netherlands 3
Argentina 1 Spain 2
Canada 1 Sweden 2
Total 22 Switzerland 2
UK 2
Austria 1
Norway 1
Poland 1
Total 37
ASIA-PACIFIC
_
Japan 10
India 4
New Zealand 1
AFRICA Korea, Rep. 1
_
Kenya 1 Total 16
Total 1

REPORT 2023
APPENDIX 2 NUMBER OF THE ORGANIZATIONS PER ECONOMIC SECTOR AND TYPE, 2023
76 ORGANIZATIONS
AGRICULTURE AND FOOD INDUSTRIES 16 Producer 14 Non Coop 2
FINANCIAL SERVICE 13 Consumer/User 11 Non Coop 2
INDUSTRY AND UTILITIES 11 Consumer/User 7 Worker 3 Producer 1
INSURANCE 10 Mutual 8 Consumer/User 1 Producer 1
WHOLESALE AND RETAIL TRADE 10 Producer 5 Consumer/User 4 Non Coop 1
OTHER SERVICES 9 Worker 6 Consumer/User 3
EDUCATION, HEALTH AND SOCIAL WORK 7 Consumer/User 3 Producer 2 Worker 2
GRAPH. 1 NUMBER OF ORGANIZATIONS PER TYPE, 2023
Consumer/User Producer Worker Mutual Non Coop
29 23 11 8 5

Top

REPORT 2023
rankings

TOP 300 LARGEST COOPERATIVE AND MUTUAL ORGANISATIONS BY TURNOVER (IN US DOLLARS)
Rank Rank Turnover 2021 Source Economic

Organisation Region Country
2021 2020 (Billion US$) Data
1 1 Groupe Crédit Agricole Europe France 117.01 Desk Research
2 2 REWE Group Europe Germany 82.03 Desk Research
3 6 Groupe BPCE Europe France 64.06 Desk Research
Nonghyup (National
4 9 Agricultural Cooperative Asia and Pacific Republic of Korea 61.17 Submitted
Federation - NACF)
5 5 ACDLEC Leclerc Europe France 60.56 Desk Research
Cooperative Financial
6 3 Europe Germany 59.82 Desk Research
Network Germany - BVR
7 8 Talanx Group Europe Germany 53.82 Desk Research
8 10 Edeka Zentrale Europe Germany 51.97 Desk Research
9 11 Groupe Crédit Mutuel Europe France 49.36 Desk Research
10 7 Nippon Life Asia and Pacific Japan 49.07 Desk Research
Zenkyoren (National Mutual

11 12 Insurance Federation of Asia and Pacific Japan 42.39 Desk Research
Agricultural Cooperatives)
12 13 State Farm Americas USA 42.23 Desk Research
13 14 Liberty Mutual Americas USA 41.94 Desk Research
66 TOP 300: rankings and employment data by turnover USD

REPORT 2023
Number of Date
Economic Activity Type FTE or Headcount Source Employee Data
Employees 2021 d/m/y
Financial service Consumer/User 147,000 31/12/21 Headcount Desk Research
Wholesale and retail

Producer 257,996 Average 2021 Headcount Desk Research
trade
Agriculture and food

Producer 27,865 31/12/21 Headcount Submitted
industries

Producer 138,000 2021 Not indicated Desk Research
trade
Financial service Consumer/User 170,614 31/12/21 Not indicated Desk Research
Insurance Mutual 23,316 Average 2021 Headcount Desk Research

trade
Financial service Consumer/User 83,141 Average 2021 Headcount Desk Research
Insurance Mutual 92,737 31/03/22 Headcount Desk Research
Insurance Producer 6,826 31/03/22 Headcount Submitted
Insurance Mutual 132 2021 Headcount Callahan
Insurance Mutual 45,000 2021 Not indicated Desk Research
TOP 300: rankings and employment data by turnover USD 67


National Federation Of
14 4 Agricultural Cooperative Asia and Pacific Japan 38.91 Desk Research
15 17 CHS Inc. Americas USA 38.45 Desk Research
16 15 Coop Swiss Europe Switzerland 34.88 Desk Research
17 16 Migros Europe Switzerland 31.66 Desk Research
18 18 Système U Europe France 27.17 Desk Research
19 19 Meiji Yasuda Life Asia and Pacific Japan 25.60 Desk Research
20 20 Achmea Europe Netherlands 23.69 Desk Research
21 23 Bay Wa Europe Germany 23.46 Desk Research
22 22 Rabobank Europe Netherlands 22.87 Desk Research
23 24 Northwestern Mutual Americas USA 22.77 Desk Research
24 25 COVEA Europe France 22.68 Desk Research
25 21 Sumitomo Life Asia and Pacific Japan 21.98 Desk Research
26 52 MassMutual Financial Americas USA 20.18 Desk Research
27 26 Conad Europe Italy 20.11 Desk Research

REPORT 2023
Number of Date

Producer 26,632 31/03/22 Headcount Desk Research
industries

industries

Consumer/User 95,420 Average 2021 Headcount Desk Research
trade

trade

trade
Insurance Consumer/User 14,800 31/12/21 FTE Desk Research

Non Coop 21,185 Average 2021 Headcount Desk Research
industries
Financial service Consumer/User 43,361 31/12/21 FTE Desk Research
Insurance Mutual 3,590 Average 2021 FTE Desk Research
Insurance Mutual

Producer 72,636 2021 Headcount Desk Research
trade


28 30 New York Life Americas USA 19.84 Desk Research
"Dairy Farmers of America

29 27 Americas USA 19.30 Desk Research
"
30 47 Groupama Europe France 18.02 Desk Research
31 28 Mouvement Desjardins Americas Canada 17.74 Desk Research
32 29 Coop Italia Europe Italy 16.91 Desk Research
33 33 Land O’Lakes Americas USA 16.00 Desk Research
34 31 Sistema Unimed Americas Brazil 15.61 Submitted
35 32 Co-operative Group Limited Europe UK 15.34 Desk Research
36 36 Coöperatie VGZ Europe Netherlands 15.19 Desk Research
37 38 Fonterra Cooperative Group Asia and Pacific New Zealand 14.92 Desk Research
John Lewis Partnership

38 34 Europe UK 14.85 Desk Research
PLC
39 40 Debeka Versichern Europe Germany 14.75 Desk Research
40 37 SOK (S-Group) Europe Finland 14.58 Desk Research
41 35 Hokuren Asia and Pacific Japan 14.30 Desk Research

REPORT 2023
Number of Date
Insurance Mutual

Producer
industries

Consumer/User 55,592 2021 Not indicated Desk Research
trade

Producer 9,000 Not indicated Not indicated Desk Research
industries
Education, health and

Worker 135,854 31/12/21 Headcount Submitted
social work

trade
Insurance Consumer/User 1,888 31/12/21 Headcount Desk Research

industries

trade

Consumer/User 39,861 31/12/21 Headcount Submitted
trade

Producer 1,806 31/03/22 Not indicated Desk Research
industries


42 49 Pacific Life Americas USA 13.98 Desk Research
43 60 Copersucar SA Americas Brazil 13.88 Desk Research
44 42 FrieslandCampina Europe Netherlands 13.60 Desk Research
45 39 Corporación Mondragón Europe Spain 13.49 Desk Research
46 50 AG2R La Mondiale Europe France 13.48 Desk Research
47 44 Arla foods amba Europe Denmark 13.25 Desk Research
48 - Aéma Groupe Europe France 13.05 Desk Research
49 46 Vienna Insurance Group Europe Austria 13.01 Desk Research
50 43 CZ Groep Europe Netherlands 12.92 Desk Research
51 48 American Family Americas USA 12.57 Desk Research
Wakefern Food Corp./

52 45 Americas USA 11.76 NCB
Shoprite
53 41 The Norinchukin bank Asia and Pacific Japan 11.56 Desk Research
Associated Wholesale
Grocers, Inc
55 54 HUK-Coburg Europe Germany 9.72 Desk Research
56 55 Guardian Life Americas USA 9.45 Desk Research

REPORT 2023
Number of Date
Insurance Mutual

Non Coop 637 31/03/22 Headcount Desk Research
industries

Producer 22,961 2021 FTE Desk Research
industries
Industry Worker 80,000 Average 2021 Headcount Desk Research
Insurance Mutual

industries
Insurance Mutual 18,000 31/12/21 Headcount Submitted
Insurance Mutual 2,396 2021 Headcount Desk Research
Insurance Mutual 12,990 Not indicated Not indicated Desk Research

Producer
trade
Financial service Non Coop 3,462 31/03/22 Headcount Submitted

Producer
trade


57 65 Growmark, Inc. Americas USA 9.42 NCB
RBI (Raiffeisen Bank

58 57 Europe Austria 9.37 Desk Research
International)
59 59 Auto-Owners Insurance Americas USA 9.36 Desk Research
60 53 DANISH CROWN AMBA Europe Denmark 9.27 Desk Research
61 56 UMG Groupe VYV Europe France 9.12 Desk Research
62 62 Südzucker Europe Germany 8.99 Desk Research
63 299 Andel Group Europe Denmark 8.96 Desk Research
64 69 DLG Europe Denmark 8.68 Desk Research
65 68 Agravis Europe Germany 8.61 Desk Research
66 61 ACE Hardware Corp. Americas USA 8.59 Desk Research
67 58 Navy Federal Credit Union Americas USA 8.27 Desk Research
68 66 Fenaco Europe Switzerland 8.08 Desk Research
69 70 HealthPartners Inc. Americas USA 7.74 NCB
70 73 FM Global Americas USA 7.60 Desk Research

REPORT 2023
Number of Date

Producer
industries
Insurance Mutual

industries

industries
Utilities Consumer/User 2,256 31/12/21 Headcount Desk Research

Producer 6,620 2021 FTE Desk Research
industries

industries

Producer
trade
Financial service Consumer/User

industries

Consumer/User
social work
Insurance Mutual


71 64 Menzis Europe Netherlands 7.50 Desk Research
72 97 IFFCO Asia and Pacific India 7.43 Desk Research
73 72 Agrial Europe France 7.35 Desk Research
74 77 SIGNAL IDUNA Europe Germany 7.25 Desk Research
Federated Co-operatives
75 81 Americas Canada 7.23 Desk Research
Limited FCL
76 85 Mutua Madrileña Europe Spain 7.14 Desk Research
77 82 Folksam Europe Sweden 7.12 Desk Research
78 88 Metsä Group (Metsäliitto) Europe Finland 7.12 Desk Research
79 80 Ilmarinen Mutual Pension Europe Finland 7.00 Desk Research
80 78 Danish Agro Europe Denmark 6.99 Desk Research
81 75 Coop Norge SA Europe Norway 6.98 Desk Research
82 79 Astera Europe France 6.85 Desk Research
83 90 Varma Mutual Pension Europe Finland 6.66 Desk Research
84 99 FloraHolland Europe Netherlands 6.66 Desk Research

REPORT 2023
Number of Date
Insurance Consumer/User 1,382 31/12/21 FTE Desk Research

industries

Producer 22,200 Average 2021 FTE Desk Research
industries

Consumer/User
trade
Insurance Mutual 3,399 31/12/21 FTE Desk Research

industries
Insurance Mutual 640 31/12/21 Headcount Desk Research

industries

trade

Producer
trade
Insurance Mutual 527 31/12/21 Headcount Submitted

industries


Sollio Cooperative Group (ex

La Coop fédérée)
86 108 Länsförsäkringar Europe Sweden 6.65 Desk Research
87 83 PFA Pension Europe Denmark 6.57 Desk Research
88 71 Alecta Europe Sweden 6.50 Desk Research
Deutsches Milchkontor Eg
(DMK)
Gujarat Cooperative Milk

90 100 Marketing Federation Ltd Asia and Pacific India 6.29 Desk Research
(AMUL)
91 84 Coop AMBA Europe Denmark 6.27 Desk Research
Sanacorp Eg
Pharmazeutische
93 87 Reale Mutua Europe Italy 6.11 Desk Research
94 117 KLP Europe Norway 6.05 Desk Research
Gruppo Bancario
95 96 Europe Italy 6.05 Desk Research
Cooperativo Iccrea
96 104 Tereos Europe France 6.02 CoopFR - agri
97 76 FJCC Asia and Pacific Japan 6.00 Desk Research
98 93 Terrena Europe France 5.92 CoopFR - agri

REPORT 2023
Number of Date

industries
Insurance Mutual 1,487 2021 FTE Desk Research

industries

Producer 1,500/1,700 2021/2022 Not indicated Desk Research
industries

Consumer/User 40,223 2021 Not indicated Desk Research
trade

trade
Financial service Consumer/User 22,084 31/12/21 Headcount Submitted

Producer 18,377 2021 Headcount CooFR - agri
industries
Insurance Consumer/User 203 31/12/21 Headcount Submitted

industries


99 121 Ag Processing Inc. Americas USA 5.84 NCB
100 95 Agropur Coopérative Americas Canada 5.80 Desk Research
101 92 Fukoku Life Asia and Pacific Japan 5.76 Desk Research
102 105 Lantmannen Europe Sweden 5.62 Desk Research
103 86 In Vivo Europe France 5.57 CoopFR - agri
104 103 Gothaer Versicherungen Europe Germany 5.55 Desk Research
105 102 Alte Leipziger Europe Germany 5.53 Desk Research
106 91 Sodiaal Union Europe France 5.52 CoopFR - agri
107 110 Beneva Americas Canada 5.23 Desk Research
Kokumin Kyosai Co-op

108 101 Asia and Pacific Japan 5.19 Desk Research
(Zenrosai)
109 134 Do-it-Best Corp. Americas USA 5.19 Desk Research
110 107 Die Continentale Europe Germany 5.14 Desk Research
OP Group - Pohjola Pankki

111 106 Europe Finland 5.00 Desk Research
Oyj
112 136 Actura Europe France 4.97 Desk Research

REPORT 2023
Number of Date

Producer
industries

industries
Insurance Mutual 12,987 31/03/22 Not indicated Desk Research

industries

industries
Insurance Mutual 4,985 Average 2021 Not indicated Desk Research
Insurance Consumer/User 1,922 Average 2021 Headcount Desk Research

industries
Insurance Consumer/User 4,924 31/05/21 Headcount Submitted

Producer
trade

producer
industries


113 109 LVM Versicherung Europe Germany 4.81 Desk Research
114 118 Elo Europe Finland 4.77 Desk Research
Swiss Mobiliar (La

115 111 Europe Switzerland 4.71 Desk Research
Mobilière)
Asociación de
116 125 CooperativasArgentinas Americas Argentina 4.67 Desk Research
ACA
117 113 MAIF Europe France 4.65 Desk Research
118 120 DEVK Versicherungen Europe Germany 4.47 Desk Research
119 114 Kooperativa Förbundet Europe Sweden 4.47 Desk Research
KFCC - Korean Federation

120 112 of comunity Credit Asia and Pacific Republic of Korea 4.45 Desk Research
Cooperatives
121 126 Coamo Americas Brazil 4.40 Desk Research
122 123 VHV Versicherungen Europe Germany 4.29 Desk Research
123 116 Cofares Europe Spain 4.26 Desk Research
124 137 Sicoob Americas Brazil 4.15 Desk Research
125 122 Securian Financial Group Americas USA 4.12 Desk Research
126 124 Raiffeisen group Europe Switzerland 4.11 Desk Research

REPORT 2023
Number of Date
Insurance Mutual 490 31/12/21 Not indicated Desk Research
Insurance Consumer/User 5,893 31/12/21 Headcount Desk Research

Producer
industries

trade

Producer 8,549 31/12/21 FTE Desk Research
industries

trade


127 127 Noweda EG Europe Germany 4.10 Desk Research
128 128 Consum Europe Spain 4.00 Desk Research
129 115 Co-op Mirai Asia and Pacific Japan 3.98 Desk Research
130 142 Sicredi Americas Brazil 3.96 Desk Research
HanseMerkur
Versicherungsgruppe
Japanese Consumers' Co-

operative Union (JCCU)
133 129 Mutual of Omaha Americas USA 3.78 Desk Research
134 158 Recreational Equipment Inc. Americas USA 3.74 Desk Research
135 165 LBM Advantage Americas USA 3.70 NCB
136 135 Axéréal Europe France 3.70 CoopFR - agri
137 147 California Dairies, Inc. Americas USA 3.69 NCB
The Co-operators Group

Limited
139 131 Vivescia Europe France 3.68 CoopFR - agri

REPORT 2023
Number of Date

trade

Consumer/User 18,212 31/12/21 Headcount Desk Research
trade

Consumer/User 14,774 20/03/22 Headcount JCCU
trade

trade

Consumer/User
trade

Producer
trade

industries

Producer
industries
Insurance Multistakeholder 6,644 31/12/21 Headcount Submitted

industries


140 132 Eureden (ex Triskalia) Europe France 3.67 CoopFR - agri
141 143 Groupe SMA Europe France 3.64 Desk Research
Cooperativa Central Aurora

142 156 Americas Brazil 3.61 Desk Research
Alimentos
143 130 Asahi Life Asia and Pacific Japan 3.60 Desk Research
144 149 Skandia Mutual Europe Sweden 3.58 Desk Research
145 190 Prairie Farms Dairy Inc. Americas USA 3.56 NCB
146 144 Sentry Insurance Americas USA 3.54 Desk Research
147 159 RWA Europe Austria 3.49 Desk Research
148 183 C. Vale Americas Brazil 3.49 Desk Research
149 154 Agrana Europe Austria 3.43 Desk Research
150 148 NTUC Income Asia and Pacific Singapore 3.43 Desk Research
151 146 Ethias Europe Belgium 3.29 Desk Research
Wawanesa Mutual
Insurance Co
153 167 Intersport Europe France 3.26 Desk Research

REPORT 2023
Number of Date

industries

Producer
industries

Producer
industries
Insurance Mutual

industries

industries
Agriculture and food Producer

8,619 Average 2021 FTE Desk Research
industries +Consumer/User
Insurance Consumer/User
Insurance Mutual

producer 15,000 2021 Not indicated Desk Research
trade


154 199 Coop Agroindustrial LAR Americas Brazil 3.23 Desk Research
Cooperativa Agroindustrial
155 272 Dos Produtores Rurais Do Americas Brazil 3.23 Desk Research
Sudoeste Goiano - COMIGO
NTUC Fairprice Co-

156 139 Asia and Pacific Singapore 3.16 Desk Research
Operative Ltd
157 161 ForFarmers Europe Netherlands 3.16 Desk Research
158 194 Södra Europe Sweden 3.16 Desk Research
Korean National Federation

159 67 of Fisheries Co-operatives Asia and Pacific Republic of Korea 3.15 Desk Research
(NFFC)
160 163 Nortura SA Europe Norway 3.10 Desk Research
161 133 CoBank, ACB Americas USA 3.07 Desk Research
162 153 Gruppo Cassa Centrale Europe Italy 3.06 Desk Research
163 140 Westfleisch Europe Germany 3.04 Desk Research
Co-operative Bulk Handling

164 193 Asia and Pacific Australia 3.00 Desk Research
(CBH Group)
165 152 Cuna Mutual Americas USA 3.00 Desk Research
Fuer Sie
166 157 Handelsgenossenschaft Eg Europe Germany 2.99 Desk Research
Food - Non Food

REPORT 2023
Number of Date

industries

Producer
industries

Consumer/User 10,360 Average 2021 FTE Desk Research
trade

industries

industries

industries

industries

industries

Producer
industries
Insurance Mutual

Producer
trade


National Merchant Buying

167 188 Europe UK 2.99 Desk Research
Society Limited
Ornua (ex Irish Dairy Board

168 162 Europe Ireland 2.96 Desk Research
Co-operative Ltd)
169 155 Cooperl Arc Atlantique Europe France 2.90 CoopFR - agri
170 174 Gedex Europe France 2.87 Desk Research
171 170 Zespri Asia and Pacific New Zealand 2.85 Desk Research
172 164 TINE Europe Norway 2.85 Desk Research
Foodstuffs North Island

173 180 Asia and Pacific New Zealand 2.84 Desk Research
Limited
174 168 MATMUT Europe France 2.84 Desk Research
175 169 Agricola Tre Valli Europe Italy 2.84 Aida
176 150 Co-op Sapporo Asia and Pacific Japan 2.80 Desk Research
177 171 AGRIFIRM Europe Netherlands 2.79 Desk Research
178 184 Barmenia Versicherungen Europe Germany 2.75 Desk Research
179 187 Landgard EG Europe Germany 2.74 Desk Research

REPORT 2023
Number of Date

Producer 58 Average 2021 Headcount Desk Research
trade

industries

industries

producer
trade

Producer 776 31/03/22 FTE Submitted
industries

industries

trade

Producer 7,058 31/12/21 Headcount Aida
industries

trade

industries

Producer 2,986 Average 2021 Not indicated Desk Research
industries


180 179 Tawuniya Asia and Pacific Saudi Arabia 2.72 Desk Research
181 186 Royal Cosun Europe Netherlands 2.70 Desk Research
182 182 Groupe Even Europe France 2.69 CoopFR - agri
Western & Southern

Financial
184 198 Basin Electric Power Coop. Americas USA 2.63 NCB
185 220 MACSF Europe France 2.62 Desk Research
186 - Aichiken Keizai Nogyo KR Asia and Pacific Japan 2.61 Desk Research
187 175 Giphar Groupe Europe France 2.60 Desk Research
Raiffeisen Waren-Zentrale
Rhein-Main
189 172 Sperwer Europe Netherlands 2.57 Desk Research
190 195 NFU Mutual Europe UK 2.51 Desk Research
Hospital Contribution Fund

191 201 Asia and Pacific Australia 2.39 Desk Research
(HCF)
192 197 AEGIS Americas USA 2.38 Desk Research
193 - Mutual of America Life Americas USA 2.37 Desk Research

REPORT 2023
Number of Date

industries

industries
Insurance Mutual
Utilities Consumer/User

industries

Producer
trade

industries

Producer 868 Average 2021 FTE Desk Research
trade
Insurance Mutual
Insurance Mutual


194 189 Associated Food Stores Americas USA 2.37 NCB
195 191 Limagrain Europe France 2.35 CoopFR - agri
196 196 Foodstuffs South Island Asia and Pacific New Zealand 2.34 Desk Research
197 181 Amica Mutual Americas USA 2.33 Desk Research
198 192 Les Maîtres Laitiers Europe France 2.33 CoopFR - agri
AGTEGRA Cooperative/
199 255 South Dakota Wheat Americas USA 2.32 NCB
Growers Association
200 202 AP Pension Europe Denmark 2.30 Desk Research
201 177 Northwest Dairy Americas USA 2.28 USDA
202 200 Valio Oy Europe Finland 2.27 Desk Research
Central Valley Ag
Cooperative
204 166 Co-op Kobe Asia and Pacific Japan 2.25 Desk Research
205 206 Fundación Espriu Europe Spain 2.18 Submitted
206 221 Felleskjøpet o FK Europe Norway 2.18 Desk Research

REPORT 2023
Number of Date

Producer
trade

industries

Consumer/User
trade
Insurance Mutual

trade

Producer
industries

Producer
industries

industries

Producer
industries

trade

Worker 6,939 31/12/21 Headcount Submitted
social work

industries


207 178 Shinkin Central Bank Asia and Pacific Japan 2.17 Desk Research
208 210 Federated Mutual Americas USA 2.16 Desk Research
209 203 HKScan Oyj Europe Finland 2.15 Desk Research
Banco Credicoop
210 296 Americas Argentina 2.14 Desk Research
Cooperativo Limitado
211 222 Penn Mutual Americas USA 2.11 Desk Research
212 173 Agribank, FCB Americas USA 2.11 Desk Research
213 205 LocalTapiola Europe Finland 2.10 Desk Research
214 214 Cristal Union Europe France 2.08 CoopFR - agri
215 218 P&V Europe Belgium 2.08 Desk Research
216 225 GESCO Europe Italy 2.07 Aida
217 204 Coop Nederland U.A. Europe Netherlands 2.07 Desk Research
218 232 Select Milk Producers, Inc. Americas USA 2.04 NCB
219 212 Febelco Europe Belgium 2.03 Desk Research
220 207 EMC Insurance Companies Americas USA 2.03 Desk Research

REPORT 2023
Number of Date
Insurance Mutual

Non Coop 7,061 31/12/21 Headcount Desk Research
industries
Insurance Mutual

industries

Producer 608 31/12/21 Headcount Aida
industries

Consumer/User
trade

Producer
industries

Producer 1,238 Average 2021 Not indicated Desk Research
trade
Insurance Mutual


Volkswohl-Bund
Versicherungen
222 211 DSW Zorgverzekeraar Europe Netherlands 2.01 Desk Research
223 213 Shelter Insurance Americas USA 2.00 Desk Research
Miyazaki-ken Keizai Nogyo

KR
225 283 OK A.M.B.A. Europe Denmark 1.96 Desk Research
226 251 Capricorn Society Asia and Pacific Australia 1.95 CEMI
227 236 Silver Fern Farms Asia and Pacific New Zealand 1.94 Desk Research
228 278 Grupo Cooperativo Cajamar Europe Spain 1.90 Desk Research
Japan CO-OP Insurance

229 217 Consumers' Co-operative Asia and Pacific Japan 1.89 Desk Research
Federation (JCIF)
230 215 Hochwald Milch EG Europe Germany 1.88 Desk Research
231 208 Mosadex Europe Netherlands 1.87 Desk Research
New York State Insurance

Fund (NYSF)
233 229 Atria Oyj Europe Finland 1.82 Desk Research

REPORT 2023
Number of Date
Insurance Mutual 713 Average 2021 Headcount Desk Research

Producer
industries

Multistakeholder 2,299 31/12/21 Not indicated Desk Research
trade

Producer
trade

Non Coop
industries
Insurance Consumer/User 1,548 20/03/22 Headcount Submitted

industries

Producer 1,476 2020/2021 FTE Desk Research
trade
Insurance Mutual

Non Coop 3,711 2021 Headcount Desk Research
industries


234 292 SACMI Europe Italy 1.82 Desk Research
235 234 Acuity Americas USA 1.80 Desk Research
236 279 Kribhco Asia and Pacific India 1.79 Desk Research
Norlys Amba (Ex Eniig

237 289 Europe Denmark 1.77 Desk Research
Amba)
238 216 U Co-op Asia and Pacific Japan 1.75 Desk Research
NACUFOK - National Credit

239 227 Asia and Pacific Republic of Korea 1.74 Desk Research
Union Federation of Korea
240 - Hefame Group Europe Spain 1.72 Desk Research
241 231 Zorg en Zekerheid Europe Netherlands 1.71 Desk Research
242 233 Euralis Groupe Europe France 1.70 CoopFR - agri
243 223 Foremost Farms USA Americas USA 1.70 NCB
244 Ocean Spray Americas USA 1.70 NCB
Cocamar Cooperativa
245 - Americas Brazil 1.68 Desk Research
Agroindustrial
Intergamma Cooperatief
246 242 Europe Netherlands 1.68 Desk Research
U.A.
State Employees Credit

Union, Inc.

REPORT 2023
Number of Date
Industry Worker 4,634 31/12/21 Headcount Aida

industries
Utilities Consumer/User 2,775 31/12/21 Headcount Desk Research

trade
Financial service Consumer/User 660 31/12/21 Headcount Desk Research

trade

industries

Producer
industries

Producer
industries

Producer
industries

Producer
trade


248 243 Advitam (Unéal) Europe France 1.65 CoopFR - agri
249 258 West Bend Mutual Americas USA 1.64 Desk Research
250 252 WWK Versicherungen Europe Germany 1.63 Desk Research
251 237 CEF Europe Italy 1.61 Aida
Spółdzielnia Mleczarska
252 260 Europe Poland 1.61 Desk Research
Mlekovita
Oglethorpe Power
Corporation
Associated Milk Producers,

Inc
255 - MFA Incorporated Americas USA 1.59 NCB
Independent Pharmacy
Coop.
257 284 Royal London Europe UK 1.59 Desk Research
258 248 Lur Berri Europe France 1.58 CoopFR - agri
259 238 Blue Diamond Growers Americas USA 1.57 Desk Research
260 270 Norges Raafisklag SA Europe Norway 1.57 Desk Research
261 268 Ameritas Life Americas USA 1.57 Desk Research

REPORT 2023
Number of Date

industries
Insurance Mutual

trade

industries
Utilities Consumer/User 320 31/12/21 Headcount Desk Research

Producer
industries

Producer
industries

Producer
trade

industries

Producer
industries

Producer 57,6 31/12/21 FTE Desk Research
industries
Insurance Mutual


The Kyoei Fire & Marine

Insurance Co
FCS of America (Farm

Credit Services of America)
264 249 Granlatte Europe Italy 1.54 Aida
265 240 Affiliated Foods, Inc. Americas USA 1.53 NCB
266 - New Cooperative Americas USA 1.51 NCB
267 256 Maïsadour Europe France 1.51 CoopFR - agri
268 274 OneAmerica Americas USA 1.50 Desk Research
269 300 Landus Cooperative Americas USA 1.49 NCB
270 287 American Agricultural Americas USA 1.49 Desk Research
271 - Assoc. Electric Coop. Inc. Americas USA 1.48 NCB
Producers Livestock
Marketing
273 263 La Mutuelle Générale Europe France 1.48 Desk Research
274 281 ZG Raiffeisen Eg Europe Germany 1.47 Desk Research
Bank Kerjasama Rakyat

275 244 Asia and Pacific Malaysia 1.46 Desk Research
Malaysia Berhad

REPORT 2023
Number of Date
Insurance Non Coop 2,875 31/03/22 Headcount Submitted

industries

Producer
trade

Producer
industries

industries
Insurance Mutual

Producer
industries
Insurance Mutual

Producer
industries
Insurance Mutual

industries


276 - American Crystal Sugar Co. Americas USA 1.46 NCB
277 280 DATEV* Europe Germany 1.44 Desk Research
Coopercitrus Cooperativa
278 - Americas Brazil 1.43 Desk Research
De Produtores Rurais
Grange Mutual Casualty

Pool
Pentagon Federal Credit

Union
281 277 URM Stores Americas USA 1.43 NCB
282 267 Scael Europe France 1.42 CoopFR - agri
283 271 Tri-State G&T Association Americas USA 1.40 Desk Research
284 - Copacol Americas Brazil 1.38 Desk Research
285 262 MILCOBEL Europe Belgium 1.38 Desk Research
286 259 ONVZ Europe Netherlands 1.37 Desk Research
287 - Banca Popolare Di Sondrio Europe Italy 1.37 Desk Research
288 286 OBOS BBL Europe Norway 1.36 Desk Research
289 266 Bigmat Europe France 1.36 Desk Research

REPORT 2023
Number of Date

Producer
industries
Other services Producer 8,351 2021 not indicated Desk Research

Producer
industries
Insurance Mutual
Financial service Consumer/User 3,700 2021 Not indicated Desk Research

Producer
trade

Producer
trade
Utilities Consumer/User 1,191 Not indicated Not indicated Desk Research

Producer
industries

industries
Housing Consumer/User 2,622 31/12/21 Headcount Desk Research

Producer
trade


290 294 Coren Europe Spain 1.35 OSCAE
291 265 Natup Europe France 1.35 CoopFR - agri
Central England Co-

292 - Europe UK 1.34 Desk Research
operative Limited
Unione Farmaceutica
293 276 Europe Italy 1.34 Aida
Novarese
Central Electric Power

Coop.
295 - Countrymark Coop Americas USA 1.33 NCB
296 - GreenPoint Ag Americas USA 1.33 NCB
297 297 Mutuelle Vaudoise Europe Switzerland 1.33 Desk Research
298 - Molkerei Ammerland EG Europe Germany 1.32 Desk Research
299 293 Manutencoop Europe Italy 1.32 Aida
Spółdzielnia Mleczarska
300 - Europe Poland 1.32 Desk Research
Mlekpol W Grajewie

REPORT 2023
Number of Date

Consumer/User 3,140 2021 Headcount OSCAE
industries

Consumer/User 1,532 2021 Headcount CooFR - agri
industries

Consumer/User 4,668 22/01/2022 FTE Desk Research
trade

Producer 625 31/01/22 Headcount Aida
trade

Producer
industries

Producer
industries
Insurance Consumer/User 1,683 2021 FTE Desk Research

Producer 510 Not indicated Not indicated Desk Research
industries
Other services Worker 27,528 31/12/21 Headcount Aida

industries

TOP 300 LARGEST COOPERATIVE AND MUTUAL ORGANISATIONS BY TURNOVER/GDP PER CAPITA
Rank 2021 Rank 2020 Organisation Region Country
1 1 IFFCO Asia and Pacific India
Gujarat Cooperative Milk Marketing Federation

2 2 Asia and Pacific India
Ltd (AMUL)
3 3 Groupe Crédit Agricole Europe France
4 4 Sistema Unimed Americas Brazil
5 12 Copersucar SA Americas Brazil
Nonghyup (National Agricultural Cooperative

6 7 Asia and Pacific Republic of Korea
Federation - NACF)
7 5 REWE Group Europe Germany
8 9 Groupe BPCE Europe France
9 8 ACDLEC Leclerc Europe France
10 11 Nippon Life Asia and Pacific Japan
11 10 Cooperative Financial Network Germany - BVR Europe Germany
12 13 Groupe Crédit Mutuel Europe France
Zenkyoren (National Mutual Insurance

13 14 Asia and Pacific Japan
Federation of Agricultural Cooperatives)
14 15 Talanx Group Europe Germany
15 16 Edeka Zentrale Europe Germany
110 TOP 300: RANKINGS by turnover over GDP per capita

REPORT 2023
Turnover/GDP
Economic Activity Type Source
per capita 2021
Agriculture and food industries Producer 3,321,512.57 Desk Research
Agriculture and food industries Producer 2,809,573.69 Desk Research
Financial service Consumer/User 2,680,001.60 Desk Research
Education, health and social

Worker 2,027,885.39 Submitted
work
Agriculture and food industries Non Coop 1,803,571.29 Desk Research
Agriculture and food industries Producer 1,747,743.95 Submitted
Wholesale and retail trade Producer 1,602,037.58 Desk Research
Insurance Mutual 1,232,156.79 Desk Research
Insurance Producer 1,064,386.36 Desk Research
Insurance Mutual 1,051,156.78 Desk Research
TOP 300: RANKINGS by turnover over GDP per capita 111

National Federation Of Agricultural Cooperative

17 17 Kribhco Asia and Pacific India
18 21 Meiji Yasuda Life Asia and Pacific Japan
19 19 Système U Europe France
20 18 State Farm Americas USA
21 20 Liberty Mutual Americas USA
22 24 Coamo Americas Brazil
23 22 Conad Europe Italy
24 23 Sumitomo Life Asia and Pacific Japan
25 30 CHS Inc. Americas USA
26 26 Sicoob Americas Brazil
27 27 COVEA Europe France
28 29 Sicredi Americas Brazil
29 25 Coop Italia Europe Italy
30 34 Cooperativa Central Aurora Alimentos Americas Brazil
31 33 Bay Wa Europe Germany

REPORT 2023
Turnover/GDP
per capita 2021
Agriculture and food industries Producer 976,956.81 Desk Research
Insurance Mutual 642,798.41 Desk Research
Wholesale and retail trade Producer 622,267.07 Desk Research
Financial service Consumer/User 539,361.99 Desk Research
Wholesale and retail trade Consumer/User 472,830.95 Desk Research
Agriculture and food industries Non Coop 458,259.27 Desk Research

32 41 C. Vale Americas Brazil
33 28 Corporación Mondragón Europe Spain
34 31 Asociación de CooperativasArgentinas ACA Americas Argentina
35 49 Coop. Agroindustrial LAR Americas Brazil
Cooperativa Agroindustrial Dos Produtores

36 65 Americas Brazil
Rurais Do Sudoeste Goiano - COMIGO
37 48 Groupama Europe France
38 32 Achmea Europe Netherlands
39 37 Rabobank Europe Netherlands
40 35 The Kerala State Co-operative Bank Ltd Asia and Pacific India
41 38 Coop Swiss Europe Switzerland
42 42 Hokuren Asia and Pacific Japan
43 39 Migros Europe Switzerland
44 36 Mouvement Desjardins Americas Canada
45 44 Co-operative Bank of Kenya Ltd (CBK) Africa Kenya
46 40 Co-operative Group Limited Europe UK
47 47 Northwestern Mutual Americas USA

REPORT 2023
Turnover/GDP
per capita 2021
Industry Worker 448,053.03 Desk Research
Insurance Consumer/User 410,437.23 Desk Research
Wholesale and retail trade Consumer/User 344,157,59 Desk Research
Financial service Non Coop 330,719.28 Desk Research

48 43 John Lewis Partnership PLC Europe UK
49 52 AG2R La Mondiale Europe France
50 - Aéma Groupe Europe France
51 45 Fonterra Cooperative Group Asia and Pacific New Zealand
52 46 The Norinchukin bank Asia and Pacific Japan
53 51 Debeka Versichern Europe Germany
54 81 MassMutual Financial Americas USA
55 55 New York Life Americas USA
"Dairy Farmers of America

56 50 Americas USA
"
57 53 SOK (S-Group) Europe Finland
58 54 Coöperatie VGZ Europe Netherlands
59 56 Vienna Insurance Group Europe Austria
60 63 Mutua Madrileña Europe Spain
61 57 FrieslandCampina Europe Netherlands
62 62 Land O’Lakes Americas USA
63 58 CZ Groep Europe Netherlands

REPORT 2023
Turnover/GDP
per capita 2021
Wholesale and retail trade Non Coop 318,857.09 Desk Research

64 73 Cocamar Cooperativa Agroindustrial Americas Brazil
65 61 UMG Groupe VYV Europe France
66 93 Banco Credicoop Cooperativo Limitado Americas Argentina
67 72 Pacific Life Americas USA
68 60 The Saraswat Cooperative BankLtd Asia and Pacific India
69 64 Arla foods amba Europe Denmark
70 66 HUK-Coburg Europe Germany
71 85 Coopercitrus Cooperativa de Produtores Rurais Americas Brazil
72 83 Copacol Americas Brazil
73 70 American Family Americas USA
74 82 Südzucker Europe Germany
75 74 RBI (Raiffeisen Bank International) Europe Austria
76 71 Reale Mutua Europe Italy
77 78 Gruppo Bancario Cooperativo Iccrea Europe Italy
78 75 Agrial Europe France
79 84 Agravis Europe Germany

REPORT 2023
Turnover/GDP
per capita 2021

80 69 Wakefern Food Corp./Shoprite Americas USA
81 77 Maharashtra State Cooperative Bank ltd Asia and Pacific India
Cooperativa Regional de Cafeicultores em

82 92 Americas Brazil
Guaxupé Ltda
83 97 Cooperativa Agroindustrial Alfa Americas Brazil
84 86 Astera Europe France
85 108 Cooperativa Agraria Agroindustrial Americas Brazil
86 79 Associated Wholesale Grocers, Inc Americas USA
87 89 FJCC Asia and Pacific Japan
88 104 Coosalud Sa Americas Colombia
89 103 Fukoku Life Asia and Pacific Japan
90 114 Integrada Cooperativa Agroindustrial Americas Brazil
91 106 SIGNAL IDUNA Europe Germany
92 87 Cofares Europe Spain
93 101 Federated Co-operatives Limited (FCL) Americas Canada
94 112 Tereos Europe France
95 88 Danish Crown Europe Denmark

REPORT 2023
Turnover/GDP
per capita 2021
Wholesale and retail trade Producer 167,503.39 NCB

Consumer/User 145,479.67 Desk Research
work
Agriculture and food industries Producer 137,781.90 CoopFR - agri

96 99 Terrena Europe France
97 95 Guardian Life Americas USA
98 121 Growmark Inc. Americas USA
99 111 Auto-Owners Insurance Americas USA
100 122 Metsä Group (Metsäliitto) Europe Finland
101 98 Consum Europe Spain
102 - Andel Group Europe Denmark
103 90 Bank Kerjasama Rakyat Malaysia Berhad Asia and Pacific Malaysia
104 118 Ilmarinen Mutual Pension Europe Finland
105 107 Kokumin Kyosai co-op - Zenrosai Asia and Pacific Japan
106 94 Menzis Europe Netherlands
107 91 In Vivo Europe France
108 123 DLG Europe Denmark
Korean Federation of Community Credit

Cooperatives (KFCC)
110 109 Sollio Cooperative Group (La Coop fédérée) Americas Canada
111 96 Sodiaal Union Europe France

REPORT 2023
Turnover/GDP
per capita 2021
Agriculture and food industries Producer 134,165.06 NCB
Utilities Consumer/User 131,778.83 Desk Research

112 100 DMK Europe Germany
113 113 Cooperativa Colanta Americas Colombia
114 139 Frisia Cooperativa Agroindustrial Americas Brazil
115 126 Varma Mutual Pension Europe Finland
116 117 ACE Hardware Corp. Americas USA
117 124 Sanacorp Eg Pharmazeutische Europe Germany
118 119 Frimesa Cooperativa Central Americas Brazil
119 147 Coopavel Cooperativa Agroindustrial Americas Brazil
120 105 Navy Federal Credit Union Americas USA
121 133 Mutual Ser Americas Colombia
122 129 Folksam Europe Sweden
123 144 FloraHolland Europe Netherlands
124 163 Actura Europe France
125 120 Tawuniya Asia and Pacific Saudi Arabia
126 67 Grupo Empresarial Cooperativo Coomeva Americas Colombia
127 116 Agropur Coopérative Americas Canada

REPORT 2023
Turnover/GDP
per capita 2021
Agriculture and food industries Producer 125,833.52 ConfeCoop

work

128 131 HealthPartners Inc. Americas USA
129 127 Copidrogas Americas Colombia
130 160 Länsförsäkringar Europe Sweden
131 130 Gothaer Versicherungen Europe Germany
132 136 FM Global Americas USA
133 128 Alte Leipziger Europe Germany
134 134 MAIF Europe France
135 110 Alecta Europe Sweden
136 148 Danish Agro Europe Denmark
137 216 Grupo Sancor Seguros Americas Argentina
138 142 Die Continentale Europe Germany
139 140 Co-op Mirai Asia and Pacific Japan
140 141 Beneva Americas Canada
Japanese Consumers' Co-operative Union

(JCCU)
142 138 Karnataka State Cooperative Apex Banks Ltd Asia and Pacific India
143 146 Asmet Salud Eps Sas Americas Colombia

REPORT 2023
Turnover/GDP
per capita 2021

Consumer/User 110,197.35 NCB
work
Wholesale and retail trade Producer 109,780.51 ConfeCoop

work

144 151 PFA Pension Europe Denmark
145 145 The Cosmos Cooperative Bank Ltd Asia and Pacific India
146 135 Emssanar Sas Americas Colombia
147 150 LVM Versicherung Europe Germany
148 149 OP Group - Pohjola Pankki Oyj Europe Finland
149 152 Coop Amba Europe Denmark
150 153 Lantmännen Europe Sweden
151 132 The SVC Bank Ltd Asia and Pacific India
152 159 Asahi Life Asia and Pacific Japan
Korean National Federation of Fisheries Co-

operatives (NFFC)
154 157 Spółdzielnia Mleczarska Mlekovita Europe Poland
155 166 Elo Europe Finland
156 165 Fenaco Europe Switzerland
157 162 DEVK Versicherungen Europe Germany
158 172 ULCCS Ltd Asia and Pacific India
159 158 Gruppo Cassa Centrale Europe Italy

REPORT 2023
Turnover/GDP
per capita 2021

work

160 161 Axéréal Europe France
161 154 Vivescia Europe France
162 155 Eureden (ex Triskalia) Europe France
163 164 VHV Versicherungen Europe Germany
164 170 Groupe SMA Europe France
165 195 Madhya Pradesh State Cooperative Bank Ltd Asia and Pacific India
166 190 Ag Processing Inc. Americas USA
167 167 Noweda Eg Europe Germany
168 169 Agricola Tre Valli Europe Italy
169 192 HanseMerkur Versicherungsgruppe Europe Germany
170 156 Coop Norge SA Europe Norway
171 185 Intersport Europe France
172 211 Do-it-Best Corp. Americas USA
173 176 Spółdzielnia Mleczarska Mlekpol W Grajewie Europe Poland
174 171 Kooperativa Förbundet Europe Sweden
175 179 Fundación Espriu Europe Spain

REPORT 2023
Turnover/GDP
per capita 2021
Agriculture and food industries Producer 79,390.47 Aida

Worker 72,538.81 Submitted
work

176 177 Co-op Sapporo Asia and Pacific Japan
177 174 The Co-operators Group Limited Americas Canada
Buldana Urban Co-operative Credit Society Ltd.

178 184 Asia and Pacific India
(BUCCS)
179 197 KLP Europe Norway
180 178 Cooperl Arc Atlantique Europe France
181 188 Gedex Europe France
182 175 The TJS Bank Ltd Asia and Pacific India
183 - Aichiken Keizai Nogyo KR Asia and Pacific Japan
184 186 MATMUT Europe France
185 214 RWA Europe Austria
186 207 National Merchant Buying Society Limited Europe UK
187 183 Ethias Europe Belgium
188 201 Agrana Europe Austria
189 230 Grupo Cooperativo Cajamar Europe Spain
190 180 Wawanesa Mutual Insurance Co Americas Canada
Agricultores Federados Argentinos Sociedad

191 76 Americas Argentina
Cooperativa Limitada (AFA)

REPORT 2023
Turnover/GDP
per capita 2021
Insurance Multistakeholder 70,338.32 Desk Research
Agriculture and food industries Producer+Consumer/User 63,979.64 Desk Research

192 198 Groupe Even Europe France
193 - Cooperativa Obrera Americas Argentina
194 173 Coop - Cooperativa De Consumo Americas Brazil
Banco Popular y de Desarrollo Comunal

195 194 Americas Costa Rica
(BPDC)
196 235 MACSF Europe France
197 189 Giphar Groupe Europe France
198 181 Westfleisch Europe Germany
199 193 Securian Financial Group Americas USA
200 209 Skandia Mutual Europe Sweden
Fuer Sie Handelsgenossenschaft Eg Food -

201 200 Europe Germany
Non Food
202 213 Gesco Europe Italy
203 191 Copservir Ltda Americas Colombia
204 - Hefame Group Europe Spain
205 196 Zespri Asia and Pacific New Zealand
206 204 Foodstuffs North Island Limited Asia and Pacific New Zealand
207 187 Co-op Kobe Asia and Pacific Japan

REPORT 2023
Turnover/GDP
per capita 2021
Wholesale and retail trade Worker 57,783.10 ConfeCoop

208 223 ForFarmers Europe Netherlands
209 199 Shinkin Central Bank Asia and Pacific Japan
210 218 NFU Mutual Europe UK
211 202 Mutual of Omaha Americas USA
212 220 Barmenia Versicherungen Europe Germany
213 205 Limagrain Europe France
214 224 Landgard EG Europe Germany
215 206 Les Maîtres Laitiers du Cotentin Europe France
216 247 Recreational Equipment Inc. Americas USA
217 257 LBM Advantage Americas USA
218 228 California Dairies, Inc. Americas USA
219 246 Sistema Ailos Americas Brazil
220 212 Uttar Pradesh Cooperative Bank Asia and Pacific India
221 251 Södra Europe Sweden
222 226 Swiss Mobiliar (La Mobilière) Europe Switzerland
223 264 SACMI Europe Italy

REPORT 2023
Turnover/GDP
per capita 2021
Wholesale and retail trade Producer 53,313.96 CoopFR - agri
Agriculture and food industries Consumer/User 51,601.94 Desk Research

224 286 Prairie Farms Dairy Inc. Americas USA
225 222 Raiffeisen Waren-Zentrale Rhein-Main Europe Germany
226 227 Sentry Insurance Americas USA
227 203 Gujarat State Cooperative Bank Ltd Asia and Pacific India
NACUFOK - National Credit Union Federation

of Korea
229 248 Co-operative Bulk Handling (CBH Group) Asia and Pacific Australia
230 233 Miyazakiken Keizainogyo KR Asia and Pacific Japan
231 229 AGRIFIRM Europe Netherlands
232 231 Cristal Union Europe France
Japan CO-OP Insurance Consumers' Co-

operative Federation (JCIF)
234 243 Royal Cosun Europe Netherlands
235 221 Foodstuffs South Island Asia and Pacific New Zealand
236 225 CEF Europe Italy
237 242 Coren Europe Spain
238 245 Raiffeisen group Europe Switzerland
239 232 Sperwer Europe Netherlands

REPORT 2023
Turnover/GDP
per capita 2021
Wholesale and retail trade Producer 45,103.31 Aida
Agriculture and food industries Producer 44,828.88 OECSE

240 219 NTUC Income Asia and Pacific Singapore
241 238 U Co-op Asia and Pacific Japan
242 236 Conaprole Americas Uruguay
243 210 CoBank, ACB Americas USA
244 208 Grupo AN (A. N. S. C.) Europe Spain
245 237 Granlatte Europe Italy
246 240 Cuna Mutual Americas USA
247 234 Caja Popular Mexicana Americas Mexico
248 250 Valio Oy Europe Finland
249 217 NTUC Fairprice Co-Operative Ltd Asia and Pacific Singapore
250 256 P&V Europe Belgium
251 254 HKScan Oyj Europe Finland
252 276 Dcoop Europe Spain
253 252 Febelco Europe Belgium
254 265 Hospital Contribution Fund (HCF) Asia and Pacific Australia
255 260 Volkswohl-Bund Versicherungen Europe Germany

REPORT 2023
Turnover/GDP
per capita 2021
Financial service Multistakeholder 42,491.82 Desk Research

256 259 LocalTapiola Europe Finland
257 253 Euralis Groupe Europe France
258 273 The Kyoei Fire & Marine Insurance Co Asia and Pacific Japan
259 269 Silver Fern Farms Asia and Pacific New Zealand
260 295 Banca Popolare Di Sondrio Europe Italy
261 261 Advitam (Unéal) Europe France
262 249 Western & Southern Financial Americas USA
263 255 Unione Farmaceutica Novarese Europe Italy
264 300 Basin Electric Power Coop. Americas USA
265 268 Manutencoop Europe Italy
266 284 Coopservice Europe Italy
267 258 Hochwald Milch EG Europe Germany
268 270 Lur Berri Europe France
269 277 Coop Nederland Europe Netherlands
270 283 DSW Zorgverzekeraar Europe Netherlands
271 280 Maïsadour Europe France
272 292 Trakya Birlik Europe Turkey

REPORT 2023
Turnover/GDP
per capita 2021
Insurance Non Coop 38,915.41 Desk Research
Wholesale and retail trade Producer 37,494.71 Aida
Utilities Consumer/User 37,397.03 NCB
Other services Worker 36,990.89 Aida
Other services Worker 36,825.23 Desk Research

273 271 Nortura SA Europe Norway
274 - Royal London Europe UK
275 289 Atria Oyj Europe Finland
276 296 AP Pension Europe Denmark
277 299 AEGIS Americas USA
278 285 La Mutuelle Générale Europe France
279 - Mutual of America Life Americas USA
280 282 Associated Food Stores Americas USA
281 274 Crédito Agrícola Group Europe Portugal
282 278 Amica Mutual Americas USA
AGTEGRA Cooperative/ South Dakota Wheat

283 - Americas USA
Growers Association
284 267 Northwest Dairy Americas USA
285 291 Scael Europe France
286 281 Mosadex Europe Netherlands
287 297 Anecoop Europe Spain
288 - Capricorn Society Asia and Pacific Australia
289 - Central Valley Ag Cooperative Americas USA

REPORT 2023
Turnover/GDP
per capita 2021
Wholesale and retail trade Producer 32,454.33 CoopFR - agri
Wholesale and retail trade Producer 32,198.50 CEMI

290 - WWK Versicherungen Europe Germany
291 - Coopesur Americas Colombia
Cooperativa de Caficultores Delsuroste de

292 - Americas Colombia
Antioquia
293 272 TINE Europe Norway
294 241 Gruppo ITAS Europe Italy
295 290 Bigmat Europe France
296 298 Miyagi Co-op Asia and Pacific Japan
297 288 Natup Europe France
298 - Federated Mutual Americas USA
Aichiken Welfare Federation of Agricultural

299 - Asia and Pacific Japan
Cooperatives
300 - Penn Mutual Americas USA

REPORT 2023
Turnover/GDP
per capita 2021
Agriculture and food industries Consumer/User 30,828.90 CoopFR - agri

Producer 30,408.54 Desk Research
work

Methodology
and Data Sources

REPORT 2023
The methodology for the World The World Cooperative Monitor project intends to pursue three goals:
Cooperative Monitor is briefly 1. provide visibility to the movement by monitoring and demonstrating the
described below. A summary of impact of large cooperatives, from both an economic and a social per-
spective;
the population under study, data
collection, rankings, and method- 2. maintain an up-to-date database on large cooperatives containing eco-
nomic, employee, and membership data;
ological issues is provided5.
3. respond to the knowledge needs of large cooperatives, providing both
ad-hoc quantitative and qualitative research on aspects of their interest.
WHO IS SURVEYED
The project collects data on large cooperative enterprises and aggrega-
tions of cooperatives, mutual, and non-cooperative enterprises in which
cooperatives have a controlling interest.
The project focuses on units that carry out economic activity for the pro-
duction of goods or services for their members. Cooperative unions and
federations that mainly carry out lobbying, representation, and protection
of the interests of associated cooperatives are not covered by the project.
The organisation types to be surveyed are currently under revision by the

World Cooperative Monitor team and Advisory Committee to better com-
pare organisations across countries, sectors, and types. The difficulty lies
in the fact that finding a definition that is shared by different countries is
complicated. There are very different regulations and laws between one
country and another in this regard and finding a way to define all organisa-
tions through a unique classification, which can at the same time take into
5
The full methodology is available
account and enhance the peculiarities of the different systems is compli-
at www.monitor.coop
Methodology and data sources 149

cated and challenging. Moreover, cooperatives that enter the top 300 classification of the
WCM, given their size, are real giants from an economic point of view and therefore their
structure is in most cases very complex and branched. On this point a continuous exercise
of refinement over the years, is leading to a continuous improvement of the data collected.
Classifications
The project classifies the cooperative organisations by economic activity and coopera-
tive type (International Labour Organisation, 2018). Information on the economic activity
or industrial sector of each organisation is collected and classified into ten categories
(see full methodology), each of which mainly reflects the structure of ICA sectoral or-
ganisations. The classification into the ten categories is determined by the International
Standard Industrial Classification of All Economic Activities (ISIC) or regional and national
equivalents class, in which the activity of the cooperative is included. If a cooperative com-
bines two or more economic activities, the main economic activity is identified following
international methods and standards6.
In the sector rankings, some economic activities are combined to form more general sec-
tors, as described in the rankings paragraph. Units are also classified based on the main
interest of their members (Table 1). In the cases of cooperatives with members’ interest
different from those proposed in Table 1, they will be analysed case by case. Mutuals and
non-cooperative enterprises are classified as such.
6
The principal activity of the unit in general can usually be determined from the goods that it sells or ships
or the services that it renders to other units or consumers. […] Ideally, the principal activity of the unit
should be determined with reference to the value added to the goods and services produced. The relevant
valuation concept is gross value added at basic prices, defined as the difference between output at basic
prices and intermediate consumption at purchaser’s prices.” (UN 2008, p. 20).
150 Methodology and data sources

REPORT 2023
Indicators
The project collects primarily economic data, along with data, where possible, on work
generated, calculated using the total head count at the balance sheet year-end date, but
also taking into account the data of Full-time equivalents or average data of the employed
for the year in case data on head count are not available.
Annual turnover data is collected for the all the entities. In the case of a cooperative
group, the consolidated data is taken into account. If the consolidated data is not availa-
ble, if possible the turnover of the entities that make up the group are considered, exclud-
ing the amount of value resulting from operations within the group, meaning operations
among members of the group.
TABLE 1. COOPERATIVE TYPE CLASSIFICATION
Producer cooperatives The main interest of the members is related to their production activity as enterprises in their
own right. The members typically comprise household market enterprises such as small
agricultural or craft producers but may also include corporations.
Worker cooperatives Members share an interest in the work which is provided by or ensured through the cooperative.
The members are individual workers (worker-members) whose jobs are directly assured
through their cooperative.
Consumer/User coops Members are the consumers or users of the goods or services made available by or through the
cooperative. Financial service cooperatives are classified as part of consumer/user cooperatives
even if these cooperatives also service producers.
Multi-stakeholder coops A cooperative which has more than one type of member with significant involvement in the
activity of the cooperative and in which: (i) more than one type of member is represented in the
governance structure of the cooperative; and (ii) no type of member has a dominant position
through a majority of votes in the governing body or an exclusive veto over decisions.
Source: (International Labour Organisation, 2018)

The present report refers to data from the fiscal year 2021. For all the economic and oc-
cupational data, the account closing date is 31 March, which means that data for accounts
with closing dates between 01/04/2021 and 31/03/2022 is considered as representing eco-
nomic activity in year 2021.
Economic data is collected in the local currency and then converted into USD. The average
monthly 2021 exchange rate was utilized. Note that the conversion to USD from Local
currency unit (LCU) is impacted by the fluctuations from year to year. Economic data is re-
ported in billion (1 billion = 1,000,000,000). The absolute values are rounded to the second
decimal place and percentages are rounded to the nearest whole number.
Rankings
In the rankings tables, in addition to the Top 300 rankings, a list of the largest coopera-
tives in each individual sector is presented. The rankings presented are based on turnover
data, defined as the income generated by the business activities conducted by a compa-
ny, usually the sales of goods and services to customers. In the case of the Insurance
sector, this is premium income. For the Financial Service sector, this is the sum of net
interest income, net premiums and other operating income, such as deposit and payment
service charges, lending fees and credit card service revenues, income from brokerage
and investment fund services, management and custodial service fees, foreign exchange
income as well as other income. However, this value was used solely for the Financial
Service ranking. In the Top 300 ranking, to achieve a more homogeneous comparison, the
sum of interest income, non-interest income (income from banking services and sources
other than interest-bearing assets) and premium income (if the organisation also pro-
vides insurance services) was utilized for financial service organisations. This methodol-
ogy creates the most homogeneity possible among data sources but note that there could
be variations among countries and existing rankings regarding calculations and values
used. When available, the number of employees is also listed.
In addition to rankings based on turnover, a Top 300 ranking based on the ratio of turno-
ver over gross domestic product (GDP) per capita is also presented. The purpose of this

REPORT 2023
FIGURE 1. ECONOMIC DATA SOURCES ranking is to neutralize the differences between the different countries
2023 WORLD COOPERATIVE MONITOR due to differences in purchasing power and therefore the different cost
DATABASE of living that differentiates the individual countries: this allows a greater
comparison of turnover.
Some of the economic activities described above are grouped into sectors
for the sector rankings: fishing is included in the agriculture and food in-
57.8% dustries sector, industry and utilities are grouped together, as are housing
and other services.
Existing
rankings
Data sources
Data is collected through online research and consultation of financial

statements and annual reports integrated with datasets developed at the
41.0%
national/regional level by representative associations of cooperatives and
Desk mutual societies and other private databases that gather personal and
research
economic data about cooperative organisations from across the world. A
questionnaire directed at the largest cooperatives was also utilized.
Also, with regard to the employment data, the working group has used
0.9%
various sources, such as online research, the questionnaire completed by
Private
database the organisation, data collected from lists at the national level and data
collected in databases.
0.3%
The direct involvement of federations and cooperatives is essential to en-
Submitted
suring good coverage in different areas of the world. For this reason, ICA
promotes the creation of national monitors which, following the method-
ology of the international project, collect data on the largest cooperatives
* It should be noted that the data sources break-
active in the country.
down refers only to the economic data sources,
where a priority is based on annual reports (desk
research) even when an organization submits a
questionnaire. Considering the total question-
naires received (also containing employment data)
the percentage would be 5% of the total database.

USA
US Credit Unions with turnover
above 100 million USD - published
by Callahan & Associates, Inc.
NCB Coop 100 (2022) - published by

National Cooperative Bank (NCB)
Top 100 agricultural cooperatives in

2021 - published by United States
Department of Agriculture Rural
Development (USDA) COLOMBIA
2021 Confecoop database-
published by Confecoop -
Confederación de Cooperativas
de Colombia (COLCoop)
BRAZIL
Rankings, 2020 OCB database -
published by Organização
das Cooperativas do Brasil
published lists, (OCB)
and data sets collected

or consulted
_
2023
REPORT 2023
UK
Co-operative Economy 2022 above 10 million GPB - published by Co-operatives UK (CoopUK)
DENMARK
2020 Kooperationen database - published by Kooperationen
SWEDEN
Det kooperativa sverige – De största företagen 2021
above 10 milion SEK - published by Svensk Kooperation
FINLAND
Finnish 300+ 2020-2021 - published by Pellervo Society (Pellervo)
NETHERLANDS
Nederlandse Coöoperatie Top 100 (2019) -
published by Nationale Raad voor de Coöperatie (NCR)
BELGIUM
Staessens, M., Dufays, F., & Billiet, A. (2021).
Belgian Cooperative Monitor 2021. Cera:
Leuven. Gegevens ophalen Integreren - JAPAN
published by CERA/KU Leuven 2021-2022 JCCU database
- published by Japanese
ITALY Consumers’ Co-operative
2021 Aida database - published by Aida - Bureau Union (JCCU)
Van-Dijk database (Aida)
FRANCE
Agricultural cooperatives 2021 - published by Coop de France (CoopFR - agri)
Les 100 plus grandes entreprises coopératives françaises - édition 2022 -
published by Coop de France (CoopFR)
SPAIN
Las empresas más relevantes de la economía social
2021-2022 - published by Confederación Empresarial
Española de la Economía Social (CEPES)
Informe Socieconómico 2021- OSCAE 2022 - published by

PORTUGAL Cooperativas Agro alimentarias de España - OSCAE
Top 100 cooperatives
- 2021 - published by
Cases - As cem Maiores AUSTRALIA
Cooperativas (Eduardo Mazzarol, T. (2022). «Australia’s Leading Co-operative and Mutual
Pedroso, Edna Neves) Enterprises in 2022: CEMI Discussion Paper 2201», Centre for
Entrepreneurial Management and Innovation - published by Centre
for Entrepreneurial Management and Innovation (CEMI) NEW ZEALAND
Top 30 by revenue in 2020
2022 National Mutual Economy Report. Incorporating the Top 100- - published by Cooperative
published by The Business Council of Co-operatives and Mutuals Business New Zealand
(BCCM) (NZ.Coop)

Team,
advisory committee,
organisational partners
156 Team, advisory committee, organisational partners

REPORT 2023
TEAM
CHIARA CARINI PAOLA DELVECCHIO
Euricse Euricse
HYUNGSIK EUM ILANA GOTZ

ICA Euricse
MICHELE CECCHETTI GUANYU CHEN

Intern Intern
CHLOE GAO PAOLA DEGETTO

Intern Intern
ADVISORY COMMITTEE
ICA AFRICA INTERNATIONAL COOPERATIVE AND MUTUAL INSURANCE
FEDERATION
ICA ASIA-PACIFIC ICMIF
COOPERATIVES OF THE AMERICAS CONSUMER CO-OPERATIVES WORLDWIDE

CCW
COOPERATIVES EUROPE
CO-OPERATIVE HOUSING INTERNATIONAL
INTERNATIONAL ORGANISATION OF INDUSTRIAL CHI
AND SERVICE COOPERATIVES
CICOPA COMMITTEE ON COOPERATIVE RESEARCH
CCR
INTERNATIONAL CO-OPERATIVE AGRICULTURAL
ORGANISATION MANLIO CALZARONI
ICAO Expert in statistics
INTERNATIONAL COOPERATIVE FISHERIES ORGANISATION SILVIA SACHETTI

ICFO University of Trento, Italy
INTERNATIONAL COOPERATIVE BANK ASSOCIATION GIANLUCA SALVATORI

ICBA Secretary General, EURICSE
Team, advisory committee, organisational partners 157

PROMOTERS
International Cooperative Alliance (ICA)

www.ica.coop
The International Cooperative Alliance is an independent, non-governmental association

which unites, represents and serves cooperatives worldwide. Founded in 1895, the ICA
has member organisations in 100 countries active in all sectors of the economy. Together
these cooperatives represent nearly one billion individuals worldwide.
European Research Institute on Cooperative and Social Enterprise (Euricse)

www.euricse.eu
The mission of the European Research Institute on Cooperative and Social Enterprises
is to promote knowledge development and innovation for the field of cooperatives, social
enterprises and other non-profit organisations engaged in the production of goods and
services. The Institute aims to deepen the understanding of these types of organisations
and their impact on economic and social development, furthering their growth and assist-
ing them to work more effectively. Through activities directed toward and in partnership
with both the scholarly community and practitioners, including primarily theoretical and
applied research and training, we address issues of national and international interest to
this sector, favouring openness and collaboration.

REPORT 2023
ORGANISATIONAL PARTNERS
Made possible by the support of our organisational partners
Banco Credicoop
It was established in 1979. Today, it is the Argentina’s eleventh-largest bank by total as-
sets and ninth largest by deposits (US$2.8 billion); nearly all of this is accounted for by
its over 670,000 members, and Credicoop maintains 244 branches. It is also a lender in a
country where domestic credit is difficult to access, holding a net loan portfolio of US$1.7
billion (3.5% of the domestic total).
CCA Global Partners

Founded in 1984, CCA Global is an international purchasing cooperative supporting over
500,000 family businesses and over 20,000 childcare centers in four countries and anoth-
er 1 million independent businesses in North America benefit from CCA Global’s business
leadership through its 14 different affiliate companies. These businesses represent five
distinct categories: flooring and home furnishings; business services; sporting goods;
nonprofit and childcare; and management and contracting. Today, CCA is one of the larg-
est privately held cooperatives in the United States. The superior benefits that CCA Global
delivers include: Lower buying & operating costs; Powerful & fully supported tech solu-
tions; Expert marketing programs; National advertising & PR support; Exclusive profita-
bility tools; and Award-winning training programs.
CIC Insurance Group

CIC Insurance Group based in Kenya has been in existence for more than five decades,
shouldering the risks of clients by providing flexible insurance and financial services built
around their needs. With time, it has innovatively created customized products that have
positioned it as a trusted insurance and financial services provider. Its positioning is sim-
plified and captured in its tagline “We Keep Our Word” reinforcing its commitment to the
market.
As the only cooperative insurance entity listed at the Nairobi Securities Exchange (NSE),
it provides cutting-edge financial services to over 1 million customers through a robust
system of 25 local branches, over 1000 financial advisors, and multiple online platforms.
With decades of excellence and a strong corporate brand, CIC Group serves a wide range
of customers from Cooperatives to Corporates, SMEs, NGOs, Government entities, and
individuals.

IFFCO Ltd
In 1967, the Indian Farmers Fertiliser Co-operative Limited (IFFCO) was established by
an initiative of NCBA/CLUSA in collaboration with ACDI/VOCA for the welfare of India’s
farmers. Today, IFFCO is the world’s Largest Fertiliser Cooperative, growing from an as-
sociation of just 57 cooperatives in 1967, to 35,300 cooperatives at present. IFFCO is an
autonomous cooperative i.e. wholly owned by Cooperative Members. All its initiatives are
aimed to benefit its member’s i.e. farmers.
Kibbutz Movement
The Kibbutz (Hebrew word for “gathering”) Movement is the largest settlement movement
in Israel. It was re-organized in 1999 as a merger between two Kibbutz organisations and
includes 257 members (kibbutzim). The kibbutz is a multi-purpose cooperative, binding
together community, housing, and production means. The majority of kibbutzim are rural
communities, based on principles of joint ownership, equality and cooperation in produc-
tion, consumption and education, providing mutual aid to their members.
Midcounties Cooperative
The Midcounties Co-operative is the largest independent consumer cooperative in the UK,
with over 700,000 members. It operates a range of businesses in Food, Travel, Healthcare,
Funeral, Childcare, Energy, Post Offices, Flexible Benefits and Telecoms. It was formed
in 2005, by the merger of the Oxford, Swindon and Gloucester Co-operative Society and
the West Midlands Co-operative Society. The Midcounties Co-operative generates annual
gross sales of over £1bn, has over 400 Trading Sites, 8,000 colleagues and over 700,000
members. It focuses on enabling their members to influence, connect and co-operate in
joint activities that benefit their Society, their members and their communities.

REPORT 2023
Mondragon Corporation
MONDRAGON groups 98 cooperatives located mainly in the Basque Autonomous Region
of Spain, and in their majority SMEs. It is the largest business group in the Basque Auton-
omous Region and the tenth in Spain. Its origins go back to 1956, when the first industrial
worker cooperative was established in Mondragon, then a very small Basque town. It is a
cross-sectoral group organised into four major areas: industry, distribution, finance and
knowledge. Its mission combines the basic objectives of a business organisation compet-
ing in international markets with the use of democratic and participatory governance, job
creation, human and professional promotion of its workers and commitment to social and
economic development of its territory.
National Agricultural Cooperative Federation (NACF)

NACF was borne out of the integration of the former agricultural cooperatives and the Ag-
ricultural Bank in 1961. Since then, NACF has played a crucial role not only in improving
the conditions of farmers economically, socially and culturally, but also in contributing to
the balanced development of the Korean economy. NACF and its member cooperatives
are engaged in diversified business activities and support services to meet the need of
member farmers and other clients. They can be grouped into three broad categories:
banking sector, non-banking sector (commercial business), and support service sector.
They also handle the farm credit guarantee service for the government.
National Co+op Grocers (NCG)

NCG is a business services cooperative for retail food co-ops located throughout the
United States. We represent 147 food co-ops operating over 200 stores in 39 states with
combined annual sales over $2.1 billion and over 1.3 million consumer-owners. NCG
helps unify natural food co-ops in order to optimize operational and marketing resources,
strengthen purchasing power, and ultimately offer more value to natural food co-op own-
ers and shoppers everywhere.

Rabobank
The first local Rabobank was established in 1895. Nowadays, Rabobank Group consists of
89 local Rabobanks, Rabobank Nederland (APEX) and domestic and foreign subsidiaries.
Rabobank has 1.9 million members who are customers of local Rabobanks. The com-
mon thread since Rabobank’s inception is to offer financial solutions for economic needs
and social issues. In practice, Rabobank has frequently reoriented its strategy, business
model and governance structure in anticipation of or in response to shifting trends in
society, technology, competition, banking regulation and supervision, etcetera. Being a
cooperative, profit maximalisation has never been our overriding purpose, but profits are
necessary for meeting capital requirements, continuity and the pursuit of our social goals.
S-Group
S Group is a Finnish network of consumer cooperatives operating in the retail and service
sectors, mainly in Finland but also in Estonia and in Russia. S Group comprises 19 regional
cooperatives and SOK Corporation along with its subsidiaries. SOK Corporation was founded
in 1904 and it`s owned by the regional cooperatives. Today by turnover, S Group is the big-
gest cooperative group in Finland. S Group’s key business areas are the supermarket trade,
department stores, specialty stores, the hardware trade, service station store and fuel sales,
and the travel industry and hospitality business. In addition, S-Bank offers banking services
to cooperative members. Individual cooperatives conduct also automotive trade and services.
Smart
Established in 1998 as non-profit association specialised in offering economic activity and
contract management services, insurance services, legal and consulting services, infor-
mation and training, co-workspaces, and mutual financial tools mainly to artists, Smart
Belgium was converted into a cooperative in 2016 and has a French and Belgian manage-
ment. More recently it has opened itself to freelancers of all sectors of activities. Smart
Belgium has organised a process for converting itself into a multistakeholder cooper-
ative (workers, clients, partners, service providers etc.). Smart has disseminated to an-
other 8 European countries through similar cooperatives, with a total of 85,000 members.

REPORT 2023
Up Coop
Founded in 1964 as a consumer cooperative, it became a worker cooperative in 1972. It
designs and markets products and services that facilitate access to food, culture, recrea-
tion, education, home help, and social assistance but also accompanies companies in the
management of their professional expenses or in the animation of stimulation and fidelity
devices. It offers a wide range of titles and services for companies, works councils, com-
munities and individuals. The group is also present in the software solutions market for
personal services structures. Present in 19 countries on all continents, the Up Coop works
for more than 24.5 million customers and is the world number three in lunch vouchers.

CREDITS
Attribution 3.0
you are free to share and to remix, you must attribute the work
Contents
Euricse and ICA research team
Graphic Design
Roberto Nova, BigFiveVisual.com
Published in January 2024
164
anniversary REPORT 2023
edition
165
Exploring
the cooperative
economy
www.monitor.coop
monitor@monitor.coop

WCM 2023 3101

Uploaded by

Document Informationclick to expand document information

Document Informationclick to expand document information

Copyright:

Available Formats

WCM 2023 3101

Uploaded by

Document Information

Original Title

Copyright

Available Formats

Share this document

Share or Embed Document

Sharing Options

Did you find this document useful?

Is this content inappropriate?

Copyright:

Available Formats

WCM 2023 3101

Uploaded by

Copyright:

Available Formats

Exploring

MADE POSSIBLE BY THE SUPPORT OF OUR ORGANISATIONAL PARTNERS

Special contribution from

FOR INFORMATION CONTACT

10 2021 RESULTS AND SECTOR RANKINGS

51 COOPERATIVE MEMBER BENEFITS

64 TOP 300 RANKINGS

148 METHODOLOGY AND DATA SOURCES

156 TEAM, PARTNERS, SPONSORS

The World Cooperative Monitor project

10 2023 Results and Rankings

2023 Results and Rankings 11

Data for 2021 comes from4:

Top 300 based

12 2023 Results and Rankings

TOP 300 TURNOVER USD

57 Wholesale and retail trade

19.0% Financial service

Other services (including housing)

2023 Results and Rankings 13

TOP 300 TURNOVER/GDP PER CAPITA

Wholesale and retail trade

56 103 Education, health and social work

Other services (including housing)

14 2023 Results and Rankings

TOP 300 TURNOVER USD Producer 129

Non Coop controlled by coop(s) 11

TOP 300 TURNOVER/GDP PER CAPITA Producer 125

Non Coop controlled by coop(s) 13

2023 Results and Rankings 15

TOP 300 TURNOVER USD

16 2023 Results and Rankings

TOP 300 TURNOVER/GDP PER CAPITA

2023 Results and Rankings 17

TOP 300 TURNOVER USD: TOP 10

Rank Organisation Country Economic Type Turnover 2021 Number of FTE or

1 Groupe Crédit Agricole France Consumer/ 117.01 147,000 Headcount

2 REWE Group Germany Producer 82.03 257,996 Headcount

3 Groupe BPCE France Consumer/ 64.06 99,900 Headcount

4 Nonghyup (National Republic Producer 61.17 27,865 Headcount

5 ACDLEC Leclerc France Producer 60.56 138,000 Not indicated

6 Cooperative Financial Germany Consumer/ 59.82 170,614 Not indicated

7 Talanx Group Germany Mutual 53.82 23,316 Headcount

8 Edeka Zentrale Germany Producer 51.97 83,534 Headcount

9 Groupe Crédit Mutuel France Consumer/ 49.36 83,141 Headcount

10 Nippon Life Japan Mutual 49.07 92,737 Headcount

18 2023 Results and Rankings

TOP 300 TURNOVER/GDP PER CAPITA: TOP 10

Rank Organisation Country Economic Type Turnover/GDP Number of FTE or

1 IFFCO India Producer 3,321,512.57 4,362 Headcount

2 Gujarat Cooperative India Producer 2,809,573.69 1,500/1,700 Not indicated

3 Groupe Crédit Agricole France Consumer/ 2,680,001.60 147,000 Headcount

4 Sistema Unimed Brazil Worker 2,027,885.39 135,854 Headcount

5 Copersucar SA Brazil Non Coop 1,803,571.29 637 Headcount

6 Nonghyup (National Republic of Producer 1,747,743.95 27,865 Headcount

7 REWE Group Germany Producer 1,602,037.58 257,996 Headcount

8 Groupe BPCE France Consumer/ 1,467,379.98 99,900 Headcount