We believe in our owners’ culture. And we strive to live by it every day.
The invigorating days of high commodity prices are behind us for the time being. Now more than ever our focus must be on margins, efficiency, productivity and yield. That’s what you’re doing in your operation. And that’s our approach at The Aurora Cooperative as well.
The Aurora Cooperative has invested and has leveraged the financial success of the past few years to consolidate operations, improve grain terminals, fund new construction, and acquire enterprises that align with our long-term business strategy.
As a farmer-owner of the Aurora Cooperative, you have the distinct advantage of doing business with one of the strongest, healthiest agribusinesses in the nation. This financial strength has allowed us the flexibility and foresight to capitalize on opportunity, act quickly and decisively—and not just react to change, but create it. As a result, our farmer-owners benefit from the innovation, services, and leading edge research that only a profitable, forward-thinking partner can provide.
As a company, the Aurora Cooperative is always looking to the future. It is why in the past we built Aurora West, acquired aerial application businesses, modernized our financing model, established PROCAP and have grown our footprint across America. It's all about looking forward in a contemporary yet sensible fashion that puts Aurora Cooperative - your company - in a position to have the greatest opportunity for success.
Following our long-held ideals and beliefs, your company reached our goals in the face of continued interesting times in all commodity markets, from grain to energy to fertilizer. Certainly our 104-year history of sensible decision making and insistence on acting from a position of strength has served us well.
The advancements and contemporary path followed by your cooperative over the past half decade culminated with record earnings and historic equity revolvement in fiscal 2010.
As financial giants tumbled over the last year, the Aurora Cooperative – your cooperative – performed at a remarkable level, delivering record local earnings in fiscal 2009 and the second-highest total earnings in history.
Certainly 2008 will be remembered for wild commodity price swings and the financial and economic trouble faced by many companies around the world. For your Aurora Cooperative, however, it will go down as another banner year – a year that saw the consistent growth from the past continue.
This special report documents Aurora Cooperative’s first 100 years: Determined to improve their marketplace, a group of farmers came together in 1908 to form the Aurora Elevator Company. Although success was not guaranteed, challenges were overcome with courage, determination, common sense, and just plain hard work. Today – a century later – the farmer-owners of the Aurora Cooperative maintain these ideals and are proud to be part of one of the most successful and progressive cooperatives in the nation.
This publication includes the financial report from the 2007 fiscal year. It is a companion to the 100th anniversary historical publication: In these times of incredible change in agriculture, your cooperative, backed by your loyalty and support, has performed beyond expectations. In fact, in this 100th annual report of your cooperative, we are proud to report that sales, earnings, and cash patronage to members all reached record levels in fiscal 2007.