Farm Credit Mid-America has announced the distribution of nearly $88 million to eligible customers as part of its Patronage Program.

Historically, Farm Credit Mid-America, a financial services cooperative serving farmers and rural residents in Indiana, Ohio, Kentucky and Tennessee, has reinvested 100% of earnings back in the cooperative to build financial strength to serve rural America and agriculture into the future. Now, having successfully built that stability, the Board of Directors has elected to distribute additional capital to customers in the form of patronage.

“As a cooperative, Farm Credit Mid-America is proud to be in a position to give capital back to our customers through the Patronage Program,” said Bill Johnson, President and CEO of Farm Credit Mid-America. “We consider this a great financial accomplishment for our customers and look forward to continuing to strengthen this cooperative to secure the future of rural communities and agriculture.” 

During the week of March 26-30, eligible customers will receive patronage that is proportionate to their transaction level with Farm Credit Mid-America. Patronage is not funded by rate increases, and rates will not be increased to support the Patronage Program. Interest rates are market-driven and change daily.

Patronage is an annual program, and the decision to pay patronage will continue to be reviewed each year by Farm Credit Mid-America’s Board of Directors. The terms of the program are determined on an annual basis. For more information on the Patronage Program, visit e-farmcredit.com/patronage.

Source: Farm Credit Mid-America