95 Years Strong
February 24, 2025
Written By Adam Buckallew
MFA Oil Highlights Major Investment, Announces $14.1 Million in Cash for Members at Annual Meeting
For nearly a century, MFA Oil has stood strong, guided by its mission of service to its member-owners. As the cooperative celebrated its 95th anniversary, more than 300 delegates from 80 locations convened in Columbia, Mo., for its annual delegate meeting. The gathering was an opportunity to highlight the co-op’s financial success and its heritage of rural investment, which continues today.
As rural America has evolved throughout MFA Oil’s history, so has the co-op. What began as a solution to ensure fair prices and reliable supply for Missouri farmers has become a multifaceted cooperative that balances financial returns with member services and support. The meeting demonstrated how that balance strengthens the co-op and the communities it serves.
“When you think about the role of this cooperative, remember that we’re more than just fuel and energy. We’re about people. We’re about communities. And we’re about making a positive impact,” said Jon Ihler, president and CEO of MFA Oil, while addressing the assembled delegates.
The numbers shared at the meeting help tell part of the story:
- $14.1 million in cash and equity distributions to member-owners, made possible by the cooperative’s strong financial performance.
- MFA Oil’s reported net income of $53 million for the fiscal year ending Aug. 31, 2024, a notable increase from $42.1 million the previous year.
- Approximately $39.9 million of 2024 net income came from patronage MFA Oil earned from other cooperatives, with MFA Oil making $13.1 million from its operations.
- Over the past five years, MFA Oil has returned $53.2 million in cash to members. Members earn patronage based on their purchases of gasoline, diesel, propane and lubricants through the cooperative’s refined fuel and propane plants and Petro-Card 24 stations.
“Our cooperative’s success is a reflection of the trust and strong relationships we share with our members,” Ihler said. “This year’s results position us well for the future as we continue to invest in our people, our infrastructure and the communities we serve.”
Based on 2024 earnings, the MFA Oil Board of Directors approved the retirement of remaining 2011 member equities ($1.6 million) and 50% of 2012 member equities ($3.4 million). Additionally, the board authorized $4.5 million in qualified cash patronage, which represents half of the allocated qualified patronage for the year. Combined with $4.5 million in member equity allocations, the total cash and equity distribution is $14.1 million.
“Our strong financial results enable us to deliver real value back to our members,” said Glen Cope, chairman of the MFA Oil Board of Directors. “This year’s distribution demonstrates the strength of our cooperative and our continued focus on serving our members’ needs.”
During the meeting, Ihler shared how the cooperative is making the largest capital investment in its bulk plant division’s history: a $25 million modernization of its Petro-Card 24 network spanning more than 180 locations. The upgrades, which will include new fuel pumps, payment technology and image updates, have already been completed at more than 20 locations.
“This is an exciting initiative that is all about making it easier for you, our members, to do business with the cooperative,” Ihler explained. “These new CRIND pumps—with credit card readers in the dispensers—are not just about modernizing our infrastructure. They’re about ensuring reliability and convenience for you, eliminating single points of failure so you can count on dependable fuel, whenever you need it.”
The meeting also celebrated the 25th anniversary of the MFA Oil Foundation, which awarded $361,687 in grants to 156 nonprofit organizations in 2024. Since its founding in 1998, the Foundation has provided approximately $3.9 million to strengthen rural communities.
“Our company slogan, ‘We Live Where You Do,’ isn’t just a tagline—it’s a reflection of our belief in supporting the communities where our members and employees live and work,” Ihler said. “Our grants provide essential resources to local schools, emergency responders, food pantries, youth organizations like 4-H and FFA, and more. Whether it’s helping buy playground equipment, providing emergency equipment for firefighters or supplying new computers for students, the MFA Oil Foundation is making a difference in the places we call home.”
For the farmers in attendance, the 95th Annual Delegate Meeting was both a look back at a successful year and a glimpse at how the cooperative continues to adapt and thrive, delivering both immediate returns and long-term investment in the future of rural America.
Photos By Casey Buckman