Central Valley Ag Cooperative (CVA) recently hosted their annual meeting at the Holthus Convention Center in York for member-owners to review the fiscal year. CVA reported $28 million in total profit for their fiscal year 2018, ending on Aug. 31, 2018.
This year, CVA will disperse $12.0 million in patronage to member-owners with 33 percent paid in cash and the remaining balance in non-qualified equity. Based on the results of the 2018 fiscal year, $4.0 million will be paid out in cash. The balance of the patronage ($8.0 million) will be distributed in the form of non-qualified patronage. Not only is the cash received as a benefit for member-owners; $29.9 million was reinvested in assets to improve speed, space, and efficiency in 2018.
At the meeting, CVA also announced the newly elected members of their Board of Directors. CVA relies on its board of directors to position CVA for future success and profitability for member-owners.
Leading up to the meeting the board of directors voted in favor of reformatting the size of the board. Now, Central Valley Ag will be working under the direction of an 18-member board with two associate board members. CVA’s Board of Directors is made up of local, agricultural producers who are recognized for their industry expertise, as well as economic and community development skills.
Jay Uehling of Oakland and Robert Chatt were elected to represent Region 4 while Carmen Schlickbernd of West Point was elected as an associate board member.