About Us
Established in 1908, Madison Farmers Elevator Company (MFE) is a farmer-owned cooperative company. We are currently a grain and feed cooperative handling mostly corn, soybeans, oats, winter wheat and a variety of feed products and services.
Over the course of many decades, we have been heavily involved in the grain, feed and chemical industry. In the early 2000s, the chemical side of the business was closed. In 2007, F & M Coop Oil Company and the Madison Farmers Elevator Company entered into a 50/50 joint ownership agreement and created Farmers Ag Center LLC in Madison, SD. Farmers Ag Center LLC is a chemical, fertilizer and seed company servicing the greater Madison area including surrounding counties and communities. Our business partner, F & M Coop Oil Company of Madison, SD is another local agricultural cooperative offering bulk fuel, propane, gas station and shop tire services to its patrons.
In the cooperative industry, annual profits are returned to our patrons through patronage dividends. A portion is paid in cash to the patrons and a portion is retained for the patrons as determined by the Board of Directors (the directors are elected by the member-owners of MFE to represent the company and oversee the General Manager and help establish policies). Both F & M and MFE split the annual profits from Farmers Ag Center, LLC and also distribute the LLC's patronage in addition to the cooperatives' own profits.
Madison Farmers Elevator Company has two locations: Madison, SD, and Ramona, SD. For more location information, bushel capacities, and receiving rates, please see our "Locations" page.
Our Mission
To provide top-notch services and products with knowledgeable, self-driven employees focused on customers' and company profitability in a safe facility.
Our Vision
To be the leading agricultural service company in the region.
Our Values
- Safety
- Customer Service
- Integrity
- Employees
- Communities
- Success
Fiscal Year End = December 31st