Welcome to Co-op Country!
A look back on the 2024 Tennessee Farmers Cooperative Annual Meeting
Tennessee Farmers Cooperative’s (TFC) Annual Meeting was held Sunday and Monday, Dec. 1 and 2 at Gaylord Opryland Resort and Convention Center in Nashville. As participants heard reports from TFC leaders and joint venture officers, a common theme emerged — it was a challenging year for agriculture and the Co-op system.
Uncooperative weather, including the damaging floods of late fall and a persistent drought through earlier months, coupled with low commodity prices, high interest rates, and the uncertainty of a contentious presidential election all contributed to the obstacles farmers experienced, and those challenges trickled down to influence the results of many member Co-ops and TFC.
Despite the challenges, there were bright spots to celebrate. The launch of LiveAg, a new joint venture owned by Tennessee Farmers Cooperative, United Producers, Inc., and the software development firm Auxen, was among those highlights that promise to offer future returns. LiveAg specializes in the sale of livestock and agricultural equipment, using a cutting-edge software platform to power its operations, enabling both timed and in-person auctions as well as live video auctions — available all day every day — and integrating various sales methods into a single, comprehensive hub.
Celebrating the theme “This is Co-op Country” a welcome gathering featured a special display of antique tractors and a vintage Ford pickup as part of the Tractors & Tailgates display for the meeting. As part of the Co-op Auction Barn event on Sunday afternoon, the Co-op crowd heard an inspirational message from Ashley Jones, who overcame a devastating injury that led to the amputation of her right arm and became a University of Tennessee at Knoxville (UTK) standout track star.
Tennessee Governor Bill Lee stopped by to offer his encouragement to the annual meeting attendees at breakfast on Monday. He was followed by UTK Coach Tony Vitello, who delivered the keynote address to kick off the sessions where the operational and financial reports were delivered. Finally, retired TFC Vice President of Risk Management Peggy Tucker was honored with the James B. Walker Cooperative Spirit Award and proceeds from the auction were presented.
This special section showcases details from the event.
Three prominent farmers elected to Tennessee Farmers Cooperative board
Keith Fowler of Martin, Robert Thompson of Niota, and Sloan Stewart of Lynchburg were elected to serve three-year terms on the Tennessee Farmers Cooperative Board of Directors. Their election was ratified at the 2024 TFC Annual Meeting.
Returning to the board after a one-year absence is Keith Fowler, who will represent Zone 1. He replaces Amos Huey of Kenton, who was not eligible for re-election. Keith was first elected to the board in 2014 and served nine years, including terms as vice chairman from 2018-2022. He farms more than 6,000 acres in Weakley and Gibson counties, raising corn, wheat, and soybeans. He is a member of Weakley Farmers Cooperative. Keith and his wife, Linda, have three children — son, Chris, who farms with his dad, and daughters, Rachel and Emily.
Keith said he’s excited to be back on the board and is looking forward to serving with his fellow board members again to tackle whatever challenges lie ahead.
“I think everyone knows that it’s been a tough year, but there’s still silver linings to be found,” said Keith. “I can tell that Co-op is going in the right direction, and I’m optimistic about the future.”
Also re-elected to the board was Robert Thompson, who represents farmers from Zone 3. He has served on the board since 2021. Robert farms 760 acres in the McMinn County community of Niota. His family farm, Lane View Farms, was founded in 1883, and Robert is a fourth-generation farmer. A Co-op member since 1982, he grows corn and hay and has a cow/calf operation. Robert was awarded the 2008 Governor’s Award for Excellence in Agriculture and Forestry for his conservation efforts on the farm. A member of AgCentral Co-op, Robert has served on the local Co-op board as well as on the merger committee when McMinn Farmers Co-op consolidated to form AgCentral Co-op. Robert and his wife, Lyn, have one son, Will.
“I’m excited about what TFC’s future looks like,” said Robert during the meeting. “Our board is diverse in both age and types of farming. We just need to listen to each of our local Co-op members’ concerns, take it back to the board, and evaluate it; then talk amongst ourselves to see if there’s something that we need to do to make it better. I look forward to serving the farmers across the state.”
Sloan Stewart of Moore County was also re-elected to the board to represent Zone 2. He has served as a TFC Director since 2022, when he was elected to replace David Rhea, who resigned from the board. Sloan has a long background in farming, banking, and county government. He currently serves as the Metro Moore County Mayor, a position he also held from 2009 to 2018, and he has been a member of numerous agriculture, bank, and farm credit boards, including active service on his local Farm Bureau Board and Cattlemen’s Association. A longtime member of the Co-op, Sloan is the past president of the Bedford-Moore Farmers Cooperative Board of Directors and operates a 1,000-acre cow/calf backgrounding operation with his wife, Cathy.
At the meeting, Sloan agreed with Robert that he was glad to be elected back to the board for another term, adding that “there’s a learning curve to being on the TFC board and it’s hard to absorb it all in a year or two.”
“We have a very diverse board that reaches out in more aspects than just farming and agriculture,” said Sloan. “The experience of each member on the board touches on a lot of different areas than can strengthen the group. I’m looking forward to seeing what the future holds for Tennessee agriculture.”
Chairman of the Board: Benjie Daniel "Committed to cooperation and community"
In his address to the membership, TFC Board Chair Benjie Daniel began by acknowledging the challenges the Co-op system faced in 2024.
“As farmers, we’re accustomed to dealing with uncertainty, and we never know what a year will hold, but it seems like we have had more than our share of obstacles lately,” Benjie said.
He cited high interest rates, low commodity prices, extreme weather from drought to flood, and the uncertainty of the recent elections as factors that have impacted farming and the financial results that resulted.
During uncertain times, Benjie encouraged the group to “cling to things we know for certain.”
“I encourage you to stay committed to our Co-op system,” he continued. “We must continue to work together and try new ways of doing business so we can be beneficial to our farming community. The next idea could be the best!"
Tennessee Governor Bill Lee encouraged the crowd in their farming endeavors and said that agriculture is the number one driver of the state’s economy. He stressed the importance of keeping the state’s rural areas strong.
A highlight of the Annual Meeting business breakfast was an address from Tennessee Governor Bill Lee. A seventh-generation Tennessean and the 50th Governor of the state, Lee has served in that position since 2019.
Lee stressed the importance of keeping Tennessee’s rural areas strong. The Governor pointed out that when he ran for office in 2017, he drove his personal farm tractor from one end of the state to the other as a way of spotlighting agriculture and stopped at many Co-op stores along the way.
Lee said that since taking office, he has made historic investments in agricultural programs like the Ag Enhancement Fund and the Ag Enterprise Fund. He has established permanent funding for 4-H and FFA. He’s also invested in the Department of Agriculture and expanded the resources of ag extension agents.
“When you think about where we are today compared to when I first rode that tractor, we’ve done nothing but strengthen the ag industry in our state,” he told the group. “We need to continue that every year. There is a strong belief in this administration that Tennessee is a leader in agriculture. What I’m hoping to do is create such a pattern of success in the agriculture and rural economic sector that when my term is up in two years, there’s a continuation of that straight into the next administration.”
“Agriculture is the number one driver of the state’s economy,” he continued. “You are a key component. The Co-op system is a key part of the logistics and supply chain. You are the piece that keeps Tennessee’s economy moving forward.”
Lee reported that, depending on the month and measurement, Tennessee’s economy is the first-, second-, or third-fastest growing economy in America. It’s one of the most moved-to states in the country, he said, and people love our rural way of life — our family values and principles.
“There’s a lot going on in this state, and a lot of it is because of a robust agriculture economy,” said Lee, who was raised in Franklin, where he still resides today with his wife, Maria, on his family’s farm. “You are the ones who make that happen. I just want to encourage you in your endeavors. What you’re doing by holding tight to your businesses — by strengthening them, building them up, and investing in them — you’re making sure that Tennessee leads this country in a way that matters to all Americans.
“I’m really proud of this industry,” he added. “My family has a long history with agriculture; more importantly, a long history of living in rural Tennessee. It has a way of life, a value system, and a work ethic that is not sustainable unless you invest in it and protect it. It must be protected, fought for, secured, and recognized. Thank you for the role that each of you play in fostering Tennessee agriculture.”
2024 financial highlights
Tennessee Farmers Cooperative (TFC) Chief Financial Officer Kirk Fischer reported the financial results of 2024. Consolidated gross sales for the cooperative were $138 million, a decrease of $10.7 million from 2023. Gross margins amounted to $12.8 million, a decrease of $1.5 million, although the gross margin percentage was roughly the same. TFC’s sales volume consists primarily of fuel, although the Ag Equipment Department and Stockdale’s largely drive consolidated gross margins. Consolidated net margin before income tax amounted to $7.9 million. Other results:
Tennessee Farmers Cooperative Foundation donates $120,750 to 4-H and FFA
Tennessee 4-H and FFA were recipients of more than $120,000 at Tennessee Farmers Cooperative’s 79th annual meeting on Monday, Dec. 2 at the Gaylord Opryland Resort and Convention Center in Nashville. The two groups will split the amount equally.
A donation of $60,340 was raised by the Co-op Auction Barn. A virtual auction of donated items began two weeks prior to the annual meeting via the Internet, along with a silent auction for the items at the event. Additionally, during the Sunday afternoon session, premium goods were sold at a live auction led by John Houston, ProTrition director of business services, and his son, Joshua. Additionally, another donation of $60,410 was raised from the sales of 6,041 Co-op 2024 commemorative 4-H and FFA pocketknives. The knives were designed and crafted at W.R. Case and Sons Cutlery Co. in Bradford, Pennsylvania, then pre-sold to member Co-op stores across the state where they are now offered to the public.
CEO Message Recap: Shannon Huff
"Co-op Country demonstrates its strength in challenging times"
As Tennessee Farmers Cooperative Chief Executive Officer Shannon Huff addressed attendees at the TFC Annual Meeting on Monday, Dec. 2, he framed his remarks with the familiar saying, “You’re either in the middle of a storm, about to go into a storm, or coming out of a storm.”
“Our Co-op system has certainly experienced its share of literal storms across the state over the past three years,” he said, referencing the flooding this past fall from Hurricane Helene, the Waverly flood of 2021, and the destruction of the Covington, Tennessee, Stockdale’s location by a tornado in the spring of 2023.
“In the face of adversity, we have seen neighbors helping neighbors, local organizations, and the Tennessee Farmers Cooperative Foundation stepping up to provide support, embodying the spirit of ‘Co-op Country,’” he said.
The response is a reflection to Co-op’s foundation of cooperation, the strength of the system, and the organization’s commitment to local communities, he emphasized.
“As we navigate these turbulent times, it is essential to reflect on the lessons learned and the bonds forged during these storms,” he said. “Together, we can emerge stronger and more united, ready to face whatever challenges lie ahead.”
That same resilience is at work in the day-to-day business of the cooperative, he stressed. Events like the COVID-19 pandemic and other financial difficulties, such as business decisions that didn’t go as planned, commodity market fluctuations, and economic trials, have all been part of the organization’s story at one time or another during its nearly 80-year history, but these trials haven’t defined Co-op. They instead serve as a testament to its strength and persistence in faithfully pursuing its mission to serve its farmer members.
Shannon acknowledged that the latest market conditions certainly will impact farmers and the Co-op business. Factors like commodity prices, consumer confidence, and decreased retail sales trends are nearly universal obstacles.
“However, our cooperative system and our farmers are better prepared to handle this storm than our competitors, thanks to the decisions made by state and local boards over the past few decades,” he said. “We are well-positioned to navigate these challenges and take advantage of the clear skies that will eventually emerge.
Thank you, Amos Huey
One of the greatest strengths of our Co-op system is the willingness of farmers to serve as stewards of the business. Elected by their peers, farmers step up at the local and state level to share their expertise and perspectives both as producers and supporters of Co-op. The role requires a substantial commitment of time and effort, as they provide guidance and vision for the organization.
At the 2024 TFC Annual Meeting, Amos Huey of Kenton concluded his time on the board as a Zone 1 director. Amos farms more than 7,400 acres in Obion, Gibson, and Dyer counties with his brother, Daniel. The two raise corn, soybeans, and wheat. Amos and his wife, Vicki, have four children: Crystal, Samantha, Felicia, and Dylan.
Amos was first elected to the board at the 2007 Annual Meeting and, 49 at the time, was the youngest member of the board while also serving as chairman of the board of Obion Farmers Cooperative. In his acceptance remarks, Amos outlined his hopes for his time as a TFC director.
“I just want to do the best I can to take care of this cooperative system and the farmers across the state who own it and depend on it,” Amos said. “As a TFC director, I believe it is my responsibility to help make the decisions that will keep this Co-op around for the next generation.”
He returned to the board in 2015 and concluded his term as vice chairman of the board at the 2024 meeting. His desire to be a steward of the business and to keep the farmer at the forefront as he made decisions and recommendations has been a hallmark of his time as a TFC director. He leaves TFC on solid ground to meet the challenges ahead.
At the December 2 business luncheon, TFC Board Chairman Benjie Daniel recognized Amos with a plaque of appreciation for his efforts.
“Amos, we’re grateful for your years of service as a TFC Director,” said Benjie as he presented the plaque. “Your dedication to this system and our farmer owners means so much to us all.”
Managing the unexpected
The efforts of 2024 James B. Walker Cooperative Spirit Award recipient Peggy Tucker touched nearly everyone in the Co-op system
Peggy Tucker, center, became the 23rd recipient of the James B. Walker Cooperative Spirit Award at the 2024 TFC Annual Meeting. With her is her oldest granddaughter, Dr. Sabrina Spicer, and TFC Chief Executive Officer Shannon Huff. The Walker Award is TFC’s highest honor and recognizes members of the Co-op community who have had great impact and influence on the Co-op’s success.
Among highlights at the 2024 Tennessee Farmers Annual Meeting was the recognition of Peggy Tucker, the dedicated vice president of Risk Management Services who served TFC in a variety of roles during an influential 40-year career. Peggy was named the 23rd recipient of the prestigious James B. Walker Cooperative Spirt Award — Tennessee Farmers Cooperative’s (TFC) highest honor.
The Walker Award was created in 1999 to recognize the contributions of individuals who had a positive and dramatic impact on the Co-op system, our farmers, and our state’s agriculture. It continued from its inception to 2019, was suspended for 2020 and the following two years due to the COVID-19 pandemic, and returned at the 2023 annual meeting.
Peggy started her Co-op career as a secretary in the Traffic Department, later working in Accounting and Personnel, before finally transferring to Risk Management and Benefits in 1984. She was the first woman to serve as an operational officer on the management team. In a restructuring move, her title was changed to Employee Benefits Manager before she retired in January 2009.
Peggy was born in El Paso, Texas, in 1946, to John and Margaret Watkins. Her father was in the U.S. Air Force, and the young family — which included her younger brother, John, and younger sister, Janette — moved frequently as the military shuffled families to new bases every three years. Some of the places Peggy lived while growing up were Texas, Louisiana, Tennessee, Delaware, Michigan, England, and Nebraska.
Moving around was just the way of life for military families, she says.
“I didn’t think much about it, but then I did not have to pack anything but my stuff,” says Peggy. “My parents would just say, ‘We’re moving to a new base,’ all the time. My dad loved to travel. In fact, most every weekend or when we got the chance, he would pack up the car and we’d take a trip to go site-seeing or something similar. So I was accustomed to always being on the go when I was growing up.”
After Peggy completed first grade in 1952, her family ventured to Smyrna, Tennessee, for a short stint when her dad was transferred to what was then known as Sewart Air Force Base. But the family soon moved to Delaware for a 19-day stay, before moving out again, renting a place in Michigan, and then sailing to England. The family later returned to Smyrna when Peggy was a high school junior as her dad had been reassigned to the base there.
The spring of her senior year, Peggy went on a date with David Tucker which eventually led to the couple marrying in October 1965 after graduating high school the previous spring. While David was pursuing a career as a master barber and instructor, Peggy went to work at State Farm in Murfreesboro where she got her first exposure to the insurance business. She worked there a couple of years before joining Co-op in 1967 as a secretary in the Traffic Department working with Joe Wright.
Insurance and risk management might not be the most exciting parts of the Co-op business, but it’s hard to overstate the importance of Peggy’s work. Agriculture is a complex industry with a myriad of opportunities for unexpected outcomes. She was instrumental in administering the captive insurance company AGRI to minimize losses to member Co-ops from critical risk events. She served as a resource for member managers by helping monitor and promote compliance with regulations and helped Co-op managers prepare for possibilities that everyone hoped would never materialize.
By the Co-op system owning its own insurance program, members saved money through decreased premiums. This offered adequate safeguards by spreading risk over the sizable Co-op system, making it possible for even smaller Co-ops to have access to affordable coverage. After all, Co-op’s strength relies on the members working together and cooperating to address a common need.
Peggy also worked with Human Resources to oversee benefits and help employees select the right options for their needs. Cost was always a concern with employees, she says, but when medical emergencies unexpectedly arose over the years, the affected families were glad to have dependable coverage. Peggy says she was pleased to have played a small role.
Her work brought her into contact with every Co-op in the system, and her steady guidance brought continuity and stability to the program. Whether with the risk management service or employee benefits, her efforts touched almost every employee, each member Co-op, and nearly all facets of the farmers’ business.
Peggy also fostered a pleasant work environment and a spirit of cooperation among her team members and the member Co-op staff with which she worked.
“Those people were like family and were the best part of the job,” she says.
Aside from work, Peggy and David spent family time with their two daughters, Shelley and Amy, and enjoyed a 53-year marriage until David passed away in 2018. She now enjoys relaxing at home and spending time with her four grandchildren.
Peggy says she considers it a great honor to be counted among those who have been given the Walker Award and is thankful for the recognition of her contributions.
“I really enjoyed my time at Co-op,” she says of her 40-year career.
‘Every day is game day’
UT baseball coach Tony Vitello shares locker room pep-talk with Co-op directors Head Coach Tony Vitello of the University of Tennessee (UT) Volunteers baseball team provided a motivational keynote address during the Monday operational and financial reports session of the TFC Annual Meeting.
Since taking over the program in 2017, Vitello has helped establish Tennessee baseball as a NCAA Southeastern Conference and national powerhouse, leading the program to its first National Championship in 2024, as well as to five NCAA regional appearances, four NCAA super regionals appearances, and three trips to the Men’s College World Series.
“You need to create your own future,” Vitello told the group. “Don’t rely on anyone else for your success. You must take responsibility for your own future and whether you’re going to be successful or not. Then, the other things are just obstacles you must overcome.”
While pointing out that many of his players work hard to be successful leaders, Vitello covered themes including respect, taking advantage of opportunities, trying new things, and giving yourself the freedom to fail. When you fail, he said, you gain knowledge of how to do things better and eventually discover methods that work.
“Operate in a way that will gain the respect of others and they will naturally follow your lead,” he advised. “The best teams — and this is probably the same in business — are the ones that come together at events such as this one and share ideas so everyone will be going in the same direction.”
He praised the Co-op’s Driven to Serve slogan, adding that being a good teammate and serving others is critically important. He compared the TFC mantra of F.A.I.T.H. — Focused, Accountable, Integrity, Teamwork, and Honest Communication — to his experiences on the ballfield.
“F is for focused,” Vitello said. “You must be focused on what’s ahead. Our season hopefully mirrors what we prep for. You focus on what you want to happen for that to go down.
“A is for Accountability. That’s so massive for success as a team,” he said. “We need guys to hold each other accountable, so they’re getting their work in over the off season.
“I is for integrity. To be a good teammate, you have to have integrity,” he said. “You need to put others before yourself and you need to serve others to help the team be successful.
“T is for teamwork. It’s at the epicenter of everything,” he said. “I know what it is to be a good teammate, and I know what it looks like to not be a good teammate. It just goes back to serving others and doing what’s best for the team.
“H is for honest communication, and that’s the cornerstone,” he added. “Communication is at the root of everything. It’s so important for people to know where they stand. If you’re not going to get something off your chest or direct someone now, then when are you going to do it?”
Vitello said he challenges his baseball players to be motivated to achieve a common goal through teamwork and sacrifice.
“We should always be working toward the future if we want to be successful,” he added. “To be successful through effective leadership, we must always be working toward our goals. After all, every day is game day!”
University of Tennessee track standout runs with faith
The Sunday afternoon session featured Ashley Jones, a University of Tennessee at Knoxville (UTK) track and field standout who, in 2023, helped take the team to sixth place in the NCAA Tournament, a feat that hasn’t been accomplished in 20 years.
Ashley spoke about the challenges she’s faced since losing her right arm in an ATV accident during a family vacation in Colorado when she was 14.
“I had lost [my father, from a heart attack] just three months before the accident,” she said. “But I grew up in a Christian home, and my parents had instilled in me that the Lord is a loving Father and He sees you. And so, on top of that mountain, I called upon the Lord. That day, he saved my life by stopping the bleeding.”
Ashley said she remembers telling her mother, “This all can’t be happening for nothing,” while recovering in the hospital.
“Even at 14, I knew that the Lord had great plans for my life, and that He would provide the strength to get through my days,” she said. “I was a high school freshman when I had to acclimate to a whole new world.”
Ashley credited her teachers as well as the sporting community for helping her adapt. A longtime soccer player, she began playing again. She became interested in triathlons, which led to a love for running as a high school junior. She committed to run track and field and cross country at High Point University in North Carolina before transferring to UTK as a senior.
“Moving to Tennessee has been a blessing,” she said. “I have continually had opportunities to compete in some of the most elite fields in the NCAA for cross country, indoor track, and outdoor track. The Lord has been faithful.”
Tennessee Farmers Cooperative congratulates the following member Co-op boards for completing the Certified Director Program in 2024. The program requires a minimum level of continuing education related to the agriculture industry and best business practices. For boards to receive a Certified Director Board designation, every member must complete certification qualifications.
See A through O
See P through W
2024-25 Co-op Scholarship recipients.
Information and how to apply:
Tennessee Farmers Cooperative proudly salutes the 2024-25 Co-op Scholarship recipients.
These young people represent the best and brightest in the future of Tennessee agriculture, and many of the recipients are already making valuable contributions to our cooperative system as employees of local Co-ops and even as full-time farmers.
TFC offers scholarships — each worth $2,000 — to qualified agriculture students at six state universities: UT Knoxville, UT Martin, Tennessee Tech, Middle Tennessee State University, Tennessee State University, and Austin Peay State University.
Applicants must be from families of Co-op members and satisfy the requirements established by Tennessee Farmers Cooperative. For more information, contact Training and Education Manager Scott Bohanon at sbohanon@ourcoop.com.