For Immediate Release:
Colorado Springs, Colorado – The Board of Directors for Farm Credit of Southern Colorado announced their intent 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 $9.5 million dollars. This patronage declaration is $1 million dollars more than 2021, and represents approximately 41% of Farm Credit of Southern Colorado’s net earnings going back to farmers and ranchers to invest in their operations, families, and rural communities. Since 2010, Farm Credit of Southern Colorado has returned nearly $66 million to eligible customer-owners.
“It is an honor and privilege to approve this year’s patronage. Our association is thriving because of you, our member borrowers. There is no better investment for Farm Credit of Southern Colorado than returning these dollars back to our borrowers.”, said Whitney Hansen, Chairwoman of Farm Credit of Southern Colorado.
“We are incredibly proud of the work that our board of directors and employees have done to make this possible. The strength of our association lies in each of our directors, employees and customer-owners. The ability to have strong earnings as a cooperative means longevity, capital to assist our borrowers in difficult times, and most of all, the opportunity to return a meaningful share of those earnings to our customer owners.”
“One of the greatest differentiators we have here at Farm Credit, is our approach to returning earnings to our customer owners through our Patronage program. In this way, eligible borrowers have the dollars in their hands to re-invest in their own operations, families, and rural communities. To me, there is no more efficient and effective way to finance agriculture and rural America!”, said Jeremy Anderson, CEO and President of Farm Credit of Southern Colorado.
The 2022 patronage dividend checks will be mailed to eligible customer-owners in April.
Farm Credit of Southern Colorado is a customer-owned financial cooperative proud to finance rural America, including young and beginning producers. With more than $1.5 billion in assets, Farm Credit of Southern Colorado is proud to remain one of Colorado’s leading providers of credit to agriculture.
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 Patronage please visit aglending.com/patronage.
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.