Detailed Version - UFA.com

ufa.com

Detailed Version - UFA.com

In 2012 our focus will continue to shift more to grassroots level investments. Rural communities “are” UFA and this

is where our efforts need to be expended. We will launch a scholarship program and a more expansive youth

program, as well as leveraging communications capabilities, media, and social media. This is an exciting shift

for UFA.

Summary

It is important for us to look at our business through the lenses of our key stakeholders, and in all areas we have

made significant improvements in 2011.

Our Owners/Customers have rewarded us with their business and demonstrated their loyalty through

investments in the High Yield Member Investment Program. Operating changes made at the field level have been

well received and supported. We have improved our communications to our membership through newsletters and

improvements to our web site. Communication and engagement will be a priority for us in 2012.

Our Employees/Agents are the backbone of this co-operative. Their commitment, enthusiasm, and drive in a year

of substantive change has been critical to our success. We have improved our communications with all of our

people, and the resulting alignment of objectives has translated into day to day operating improvements. Employee

engagement survey results are much improved over 2010. We are re-engaging with our workforce, we are seeing

success and we are moving in the right direction.

Our Vendors have been supportive of our change initiatives in 2011. By focusing on strategic relationships we

continue to grow our relevance to them, and theirs to us.

Our Financial Stakeholders who support our Asset-Based Credit Agreement gave us very positive feedback in a

meeting with them in October of 2011. At the core of this has been our demonstrated ability to deliver on our

commitments. We have earned their confidence.

Throughout the latter half of 2011, we worked closely with our Board of Directors to develop a broader view of

strategic growth opportunities for the years ahead. In 2012, we will continue to focus on improving our relevance to

our members and customers, strengthening the fundamentals of our business and commencing implementation of

a select few growth initiatives that are in line with our core purpose as a co-operative.

This cooperative has a proud tradition dating back over 100 years. We were wounded. However, we have indeed

“risen from the ashes”. We are focused on the fundamentals of this business and we delivered on the

commitments that we made for 2011.

As we look forward to 2012 and beyond, we see tremendous potential for this co-operative, building on our

success in 2011, focused on our Core Purpose of improving the economic and social well-being of our agricultural

owners and their communities.

I would like to take this opportunity to thank all of our employees and agents who have worked tirelessly to make

2011 a successful year for UFA. I would also sincerely like to thank our owners and customers for your patronage

and your loyalty.

As a co-operative we are firmly back on track.

Bob Nelson

President and Chief Executive Officer

12 PRESIDENT AND CEO‟S MESSAGE

UFA 2011 Unabridged Annual Report 12

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