In 1992 Rod Madden, a farmer and businessman from Morawa, Western Australia, decided, along with a handful of like-minded farmers, to reduce their input costs and enhance their farming output by "doing things a better way."

Against a backdrop of low returns and high costs, Rod found the ideal vehicle for this "better way" was a true farmers' co-operative, resulting in the birth of the United Farmers Co-operative Company Ltd (UFCC) ten years ago. Rod studied many examples of co-operatives both in Australia and abroad to find the best structure to ensure the newly formed UFCC would continue to meet its shareholders' expectations.

Having played a pivotal role in articulating the principles of the co-operative movement to UFCC's almost 3,000 shareholders, Rod is regarded as a key figure in the rebirth of the co-operative movement in Western Australia. He is a keen promoter of new entrants in the co-operative movement nationally and speaks regularly on their value. Along with Deputy Chairman, Mr Max Johnson, Rod is largely responsible for the setting up of the NETCO Co-operative and its recent resurgence at the national level.

The UFCC is Australia's fastest growing co-operative, growing from a fledgling $5,000 capital-based business in 1992 to an annual turnover exceeding $100 million this year. Under Rod's chairmanship the UFCC follows the doctrines of world's best practice and governance. As an example of this commitment, all directors and senior management attend and contribute at state and national level forums and the UFCC embraces the philosophies of peer and self-evaluation.

Adherence to sound co-operative principles has resulted in a 10% compounding increase to shareholders over the life of the co-operative (5 to 3,000 in ten years) and an innovative rebate formula to maximise shareholder returns. $35 million in rebates has been paid back to farmer members in the last decade.

The UFCC is regarded as the benchmark organisation of agribusiness co-operatives in Western Australia. The aim of seeking out global "partners" with whom to grow the business is balanced by the desire to give the "local bloke" an opportunity as well.

UFCC has gained formal recognition as a highly respected global purchaser and marketer, thus enhancing the members' opportunity to access best quality and prices on a worldwide basis. UFCC continues to receive interest in its activities from overseas organisations, both in a co-operative sense and as a major business operator. This strong business base has resulted in shareholders gaining the benefits of high value savings on input costs and maximised returns on output opportunities to global markets.