AgCountry Farm Credit Services has announced it will pay out $34.53 million in cash patronage to members and patrons. AgCountry’s patronage program grants the Board of Directors the ability to distribute a portion of the association’s net income to its eligible member-owners and patrons when financial conditions allow for it. The Board of Directors considers a number of factors in determining the amount of each year’s patronage refunds, including the cooperative’s financial strength and performance for the year.
The $34.53 million total consists of $31 million declared by the AgCountry Board at their meeting in December 2017 and $3.53 million declared by the former United FCS Board in June 2017 prior to their merger with AgCountry. This marks the fifth consecutive year AgCountry is paying out a patronage dividend to its member-owners.
"Our long-term sustainable approach to serving farmers and rural communities continues to provide great value to our member-owners," said AgCountry President and CEO Marc Knisely. "We are pleased to share our success with those that help make it possible."
The patronage will be paid out in March of 2018.
