MaxYield members vote to merge with NEW Co-op

Another big change is coming to the local ag market.

Members of MaxYield Cooperative on July 1 voted to merge with NEW Cooperative, Inc., effective Aug. 1. MaxYield's membership vote met Iowa's state voting requirement for a successful cooperative merger with at least 50 percent (plus one) of its Class A membership voting, with at least two-thirds of those casting ballots voting in favor of the merger.

"We look forward to being a part of NEW Cooperative and look forward to the opportunities that will bring our members, clients and team members," MaxYield board chairman Howard Haas said in a news release.

MaxYield, based in West Bend, has locations in Everly, Spencer, Greenville, Fostoria and Dickens in Clay County, and Milford and Superior in Dickinson County. Haas said income enhancements, cost savings and broader service offerings generated from the combined cooperatives' business platform were reasons MaxYield's board investigated the merger.

MaxYield has had a presence in Everly since April of 2016, when it acquired the local grain elevator from The Andersons, Inc. The cooperative's territory spans as far east as Waverly.

NEW Cooperative is headquartered in Fort Dodge. It is a farmer-owned grain, agronomy, feed and energy cooperative with 39 locations serving 5,500 member-owners throughout western and northwest Iowa. MaxYield has 25 locations and three Cenex convenience stores in Iowa.

"It's exciting for me to see the members of MaxYield approve this merger in an effort to continue evolving, positioning for and maintaining a strong cooperative presence across the current MaxYield trade area," said MaxYield CEO Keith Heim.

Heim will stay on as MaxYield's CEO during the month of July as the co-op completes its fiscal year. NEW Cooperative's board of directors will expand to a total of 15, with the addition of three directors to be appointed by the MaxYield board of directors.

Current NEW Cooperative manager Dan Dix will remain in his leadership position once the merger takes effect.

"I look forward to leveraging the value that this merger brings to the combined memberships and employees of both organizations," he said.