Strong Foundations, Bright Future
March 3, 2026
Written By Adam Buckallew
More than 320 farmer-owners convened in Columbia, Mo., on Dec. 14-15 for MFA Oil Company’s 96th Annual Delegate Meeting, where they received updates on the cooperative’s financial performance and heard about significant investments in infrastructure and technology.
The meeting brought together delegates from across MFA Oil’s eight-district territory to review the fiscal year that ended Aug. 31, 2025, and chart the course for the cooperative’s future.
Weathering Market Pressures
Glen Cope, chairman of the MFA Oil Board of Directors, acknowledged the difficult conditions many members faced in 2025.
“Much of our trade territory experienced drought issues. Input prices are high, and grain prices have been tough,” Cope said.
The cooperative reported a net income of $19.1 million for fiscal year 2025, down from $50.3 million the previous year. Rising input costs, squeezed margins and limited income opportunities were the primary reasons for the year-over-year drop in net income.
President and CEO Jon Ihler drew parallels between the cooperative’s experience and that of its farmer-owners.
“It was a productive year, a busy year, a customer-focused year, but not necessarily a profitable one,” Ihler said. “We may not have seen the financial results we were hoping for last year. But we saw progress, purpose, commitment and character.”
Based on earnings, the MFA Oil Board of Directors approved the retirement of 2012 equities totaling $3.4 million and approved $3.5 million in non-qualified member equity for fiscal year 2025. Combined, the cash and equity distribution reaches $6.9 million. Over the past five years, MFA Oil has returned $44.4 million in cash to its member-owners.
MFA Oil members earn patronage based on a percentage of the money they spend on gasoline, diesel, propane and lubricants purchased through the company’s refined fuel and propane plants and Petro-Card 24 stations. Farmers who purchase at least $1,000 of product from MFA Oil during its fiscal year are eligible for membership in the cooperative.
Major Petro-Card 24 Upgrades Continue
A significant focus of the meeting was the ongoing modernization of MFA Oil’s more than 190 Petro-Card 24 locations. The co-op addressed members’ concerns about card reader reliability by installing CRIND (Card Reader in Dispenser) units, in which each pump has its own card reader rather than a single reader controlling all pumps.
At the time of the meeting, 92 locations had been upgraded, with many more sites scheduled for completion in 2026. The total investment for CRIND upgrades is expected to exceed $30 million, with $14.2 million spent through fiscal year 2025.
“Through this major investment, MFA Oil has shown that we are committed to taking care of the rural areas of our geography that depend on us to meet their energy needs,” Cope said.
In addition to serving the co-op’s farmer-members, the upgrades benefit rural municipalities, school districts, county road departments and emergency response services that depend on Petro-Card 24 locations for fuel.
Technology Takes Center Stage
During the meeting, MFA Oil formally unveiled My MFA Oil, its new online customer portal designed to modernize member access to their accounts.
My MFA Oil, which is now live at mymfaoil.com , allows members to access all accounts linked to their taxpayer ID, monitor fuel levels, review sales, make payments, download invoices and statements, and manage Petro-Card 24 data from any mobile or desktop device. Future enhancements will allow users to sign contracts digitally, update contract information, manage paperless billing preferences and more.
Ihler acknowledged it was time for MFA Oil to catch up with its technological capabilities.
“To be candid, our performance in data technology had lagged behind, and that’s on us,” he said. “People have grown accustomed to doing business online, and we’ve worked hard to bring that same level of convenience to MFA Oil members.”
He emphasized the importance of member feedback in shaping the portal and future services.
“Your voice will shape the future of this tool and the future of our service,” Ihler said.
Local Impact
In his comments, Ihler highlighted the cooperative’s commitment to giving back to the people and communities it serves, which is reflected in its motto, “We Live Where You Do.”
Through the MFA Oil Foundation, the cooperative invests in projects that directly benefit members and their neighbors, supporting local schools, emergency services, food pantries, youth programs and other community needs.
During its 2025 fiscal year, the MFA Oil Foundation awarded $341,450 in Community Betterment Grants to 150 nonprofits, strengthening 103 communities across the seven states where MFA Oil Company operates.
Building on that tradition of local support, Ihler announced that the foundation is introducing Community Development Grants, offering larger funding opportunities to help community organizations complete projects that create lasting impact for members and the rural communities they call home.
Looking Ahead
In closing remarks, Chairman Cope expressed confidence in the cooperative’s direction and gratitude for member engagement.
“Strong grassroots involvement in the company’s governance is crucial, and that’s something only you, our delegates, can provide,” he told attendees.
As MFA Oil approaches its centennial in 2029, Cope emphasized that the cooperative’s success stems from staying true to its founding principles.
“Our continued focus is on maintaining a strong balance sheet coupled with effective growth, all while taking care of the farmer-members who are at the forefront of all that we do.”