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About Us

January 19, 1933
Stockholders in the Velva Territory Farmers Union Oil Company of Minot, ND. Meeting called to order by Olai Linrud, Acting Chairman. The purpose of the meeting was to consider the question whether or not, we, the Velva Branch of Minot Oil Co., sever connections the said company. A standing vote was called for with the results that the proposition carried unanimously. The new company to be called Velva Farmers Union Oil Company, Velva. It was moved and seconded that we incorporated in the sum of $10,000. A temporary board of directors was appointed. These five men were also the First Incorporators:

July 29, 1933
First Annual Meeting of the stockholders of the Farmers Union Oil Company of Velva was called to order by President Olai Linrud. Election of officers was the main order of business. Elected for a one-year term were: A.F. Pretzer, Olai Linrud, Nels Solheim, Hoagen Johnson, and D.C. Shattuck, with Syd Pretzer as Acting Manager. He served in this position for 17 years, from 1933 until 1950.

1934
Motion to buy the Velva Supply and Machine Co. for $2,000.

At the second annual meeting the company had made $3,399.91 for the first year.

1951
Arthur Sckimke took over as General Manager upon Syd Pretzer's retirement.

1952
Leo Ness began duties as General Manager replacing Arthur Sckimke.

1956
New Farmers Union Oil Company built.

1960
New warehouse built (is still being used today.)

1965
Harold Mindeman became new Acting Manager

1966
Fertilizer plant built. Fertilizer blender installed and four-ton spreader ordered.

1970
Orlan Buseth becomes General Manager.

1971
New bulk plant and L.P. Plant built.

1975
Anhydrous Plant approved and built.

1978
Velva F.U. Oil Co. purchased the Butte F.U. Oil .Co.

1988
F.U. Oil Co. of Velva and Butte purchased the Drake F.U. Oil .Co.

1993
F.U. Oil Co. of Velva, Butte and Drake purchases land and a building in Velva on Highway 52 and converts into the present-day Velva convenience store.

1994
F.U. Oil Co. of Velva, Butte and Drake remodeled the existing hardware store in Drake on Highway 52 and created the present-day Drake convenience/hardware store.

1998
General Manager Orlan Buseth retires after 28 years of service. Calvin Knutson assumes the responsibilities.

F.U. Oil Co. of Velva, Butte and Drake entered in an L.L.C. titled Dakota Agronomy Partners.

2001
Cory Schmaltz begins duties as General Manager.

2002
F.U. Oil Co. of Velva, Butte and Drake exited out of Dakota Agronomy Partners and proceeded independently.

2003
F.U. Oil Co. of Velva, Butte and Drake diversified its operations by opening the Country Bouquet floral shop.

2007
F.U. Oil Co. of Velva, Butte and Drake sold off the Country Bouquet to a larger floral entity, called the Flower Box of Minot.

2008
F.U. Oil Co. of Velva, Butte and Drake acquired the Martin Farmers Elevator.

July 29, 2008
F.U. Oil Co. of Velva, Butte, Drake and Martin celebrates its 75th Anniversary. General Manager Cory Schmaltz commends the cooperative's many patrons and employees for the success of the co-op.