Alceco and FCA to conduct unification study

The boards of directors of First Cooperative Association, of Cherokee, and Alceco, of Albert City, have signed a letter of intent (LOI) to conduct a unification study between the two cooperatives.

According to a joint news release, the boards of directors of both cooperatives believe now is the right time to conduct the study due to marketplace dynamics that are “changing dramatically.” The release stated each cooperative is “financially strong” and can approach the opportunity from “a position of strength while ensuring local ownership and control.”

By signing the LOI, which is a non-binding...