For Immediate Release:
Colorado Springs, Colorado –The Board of Directors for Farm Credit of Southern Colorado is pleased to announce its commitment to distribute a record cash patronage dividend to the farmers, ranchers, and agricultural producers it serves across Southern Colorado.
The Board of Directors approved a cash patronage dividend of $10 million dollars for 2023. This marks a significant increase from the previous year and represents approximately 42% of Farm Credit of Southern Colorado’s net earnings, providing vital support to farmers and ranchers for their operations, families, and rural communities. Since 2010, Farm Credit of Southern Colorado has returned nearly $76 million to eligible customer-owners.
“We are honored to declare this year’s patronage, recognizing the successes of our member borrowers. The strength and prosperity of our association is a testament to the dedication of our members. There is no better investment for FCSC than returning these dollars back to our borrowers,” said Whitney Hansen, Board Chair of Farm Credit of Southern Colorado.
With 2022’s cash dividend previously hitting $9.5 million, this new record achievement is attributed to the collective efforts of the board of directors and employees, reflecting the commitment to the cooperative’s mission.
Jeremy Anderson, CEO and President of Farm Credit of Southern Colorado, expressed pride in the organization’s accomplishments, stating, “The strength of our association lies in each of our directors, employees, and customer-owners. Strong earnings as a cooperative provide longevity, capital to assist our borrowers in difficult times, and, most importantly, the opportunity to return a meaningful share of those earnings to our customer-owners.”
One of the distinguishing features of Farm Credit is its approach to returning earnings through the Patronage program, allowing eligible borrowers to reinvest in their operations, families, and rural communities. Anderson emphasized, “There is no more efficient and effective way to finance agriculture and rural America!”
Certain statements contained in this news release are not historical facts and are forward-looking statements. These forward-looking statements are based on current knowledge and subject to risks and uncertainties. We undertake no obligation to revise or publicly update our forward-looking statements for any reason. For more information about our patronage cash dividends please visit our Patronage Program page today!
This blog post is for informational purposes only and should not be considered financial, legal, or investment advice. Any information contained in this post is subject to change without notice and should not be relied upon without seeking the advice of a qualified professional. The views and opinions expressed in this post are those of the author and do not necessarily reflect the official policy or position of our Association. The author and Association are not responsible for any errors or omissions and are not liable for any losses or damages arising from the use of the information contained in this post.