Effingham Equity

By: Bubbajunk.com

Effingham Cooperative Equity Union Exchange started in 1919 when a group of area farmers banded together to get the buying power to obtain the goods and services needed for their operations. The group incorporated in 1921 with 56 stockholders and its first stock, issued at $100 par value, was needed to be a full member eligible for refunds. Refunds earned were applied toward the purchase of stock for new members; the same stock today costs $25. With growth and expansion, a warehouse was built to house the products brought in by rail, such as corn, coal, hay, feed ingredients. 
 
The companyÂâ€Ã¢„¢s core market area covers about 10,000 square miles with locations at Effingham (1919), Stewardson (1963), Arcola (1965), Lovington (1973), Altamont (1976), Marshall (1979), Farina, Alma and Tonti (1984), West Liberty (1985), Dieterich (1993), Montrose (1994), Pana (1995) and Robinson (1995).
 
The company is currently owned by approximately 4,600 stockholders and is governed by a 5 member Board of Directors who is elected by the customer-owners at the Equity. Additional representation is obtained through the use of a 12 member Advisory Board who is appointed by the Board of Directors to represent company locations. The company operates on a cooperative basis and substantial portions of the companyÂâ€Ã¢„¢s earnings are returned to the owners in the form of patronage refunds. With over 10,000 active customers who are farmers, local businesses and community neighbors Effingham Equity has customers for the most part specializing in the production of grain and livestock and thus their current products and services cater to needs for Crops, Feed, Grain, Hardware and Petroleum.
 
Effingham Equity's main purpose is to assist its members in obtaining the goods and services they need to farm as efficiently and profitably as possible and the companyÂâ€Ã¢„¢s concept of cooperation is a tested form of business endeavor that has survived wars, depressions, inter-generational transitions and changes in governments. Surely, this strategy will lead the way for more developments down the years as it has done well for the Equity since its inception in 1919.