Pros
Good work-life balance (most people leave the office by 5:00-5:30). Minimum 3 weeks vacation to start and increases each year. Good training budget, but employees must be proactive in choosing opportunities. Relatively small company size allows exposure to upper management. Job security. Good 401k match. Bank holidays.
Cons
CoBank's salaries are below market (when compared to other banks its size). CoBank's office is in the suburbs and not downtown (some see this as a pro) and is very basic (no gym/locker room). Merit salary increases for current employees are small at ~2-4% typically ). Salary does not increase measurably in conjunction with promotions, leading to many of the smartest people to lead the bank and some of the lesser motivated to hang around.