Farm Credit Mid-America to return $57M to Ohio customers


What is patronage?

What is patronage?


LOUISVILLE, Ky. — Farm Credit Mid-America will pay $57 million in cash patronage dividends to eligible customer-owners in Ohio through its patronage program this month.

This amount is part of a $210 million total cash patronage dividends package the financial services cooperative is returning to eligible customers in Indiana, Ohio, Kentucky and Tennessee.

Since 2016, Farm Credit Mid-America, a customer-owned financial services cooperative, has returned more than $858 million through its patronage program. It provides loans for real estate, operating, equipment, housing, and related services such as crop insurance, as well as vehicle, equipment, and building leases.

“Our Patronage Program allows our customer-owners to share in the success of our cooperative, and it is one of the many benefits of being a customer of Farm Credit Mid-America,” said Tara Durbin, senior vice president of agricultural lending in Ohio for Farm Credit Mid-America. “We enjoy hearing how patronage checks have a very positive impact on our customers’ operations.”

On an annual basis, the board of directors at Farm Credit Mid-America votes to approve the program. This year, eligible customers will receive a patronage check the week of March 21, 2022, that is proportionate to his or her level of transaction with the association during 2021.

In addition to receiving patronage, customer-owners of Farm Credit Mid-America are encouraged to participate in the association by serving on the nominating committee and on the advocate council. Doing so empowers eligible customers with the ability to vote on issues that influence the operations of the association and deepen Farm Credit Mid-America’s impact, relationships, and support for its customers.

For more information, call 1-800-444-FARM, or visit www.e-farmcredit.com.

What is patronage?
https://www.sidneydailynews.com/wp-content/uploads/sites/47/2022/03/web1_Patronage.jpgWhat is patronage?