NCB income hits $12.5 million; Snyder to head NCBA board - Newsline - National Cooperative Bank - Brief Article

Rural Cooperatives, July-August, 2002

Net income for fiscal 2001 reached $12.5 million for the National Cooperative Bank (NCB) in Washington, D.C., a credit source for many of the nation's non-agricultural cooperatives, President Charles Snyder reported at the bank's most recent annual meeting. The bank's total capital hit $344.7 million and net assets reached $1.1 billion. The bank is owned by 1,841 borrowercooperatives throughout the nation.

The bank bestowed its Stanley W. Dreyer Spirit of Cooperation award to the National Cooperative Business Association's (NCBA) dotCoop team for its efforts to propose, develop and launch the new .coop top-level Internet domain. Only cooperatives and cooperative support organizations are eligible to register names under .coop. "Dot Coop will identify and unify us as cooperatives on the Internet and around the globe," Snyder said. "It weaves together cooperation and the communities we serve."

Snyder's bank was one of the founding members of dotCoop. He was subsequently elected chairman of the NCBA board, succeeding Pete Crear. The bank has registered more than 200 dotCoop addresses by 82 affiliated cooperatives and recently revamped NCB's Web site and launched it under the new address: www.ncb.coop. "For NCBA members, cooperatives and communities nationwide, we have a special opportunity to combine our forces to reach NCBA's bold goal of creating a strong, distinct cooperative sector."