AgHeritage Farm Credit Services paid $3.9 million in profits from 2018 to customer-owners this spring through the Patronage Program.
“We are owned by the very customers we serve,” said Greg Cole, AgHeritage FCS, President and CEO. “Ownership entitles our customers to special benefits such as sharing in our profits. Over the past 13 years, we have distributed almost $40.0 million through the Patronage Program.”
“Farmers are running complex businesses, and it is important to have good financial resources and expertise. Not only has Farm Credit supported rural America with reliable, dependable credit and financial services for over 100 years, we do so as a cooperative. Our cooperative structure allows customers local control through the Board election process as well as the opportunity to share in the profits through our Patronage Program,” stated Dwain Morris, AgHeritage FCS Board Chairman.
The Patronage Program returns a portion of the association’s net earnings to eligible customer-owners. Patronage refunds are based on the proportion of net interest paid on an individual’s loan to total net interest earned.
For more information on the Patronage Program, call 1-800-444-FARM to reach a local AgHeritage FCS branch office.
AgHeritage Farm Credit Services is a financial cooperative with owned and managed assets of approximately $1.4 billion as of December 31, 2018, that provides credit and related services to more than 3,000 farmers, ranchers and producers or harvesters of aquatic products in 24 Arkansas counties.
Branch offices are located in Batesville, Brinkley, Lonoke, McGehee, Newport, Pine Bluff, Pocahontas, Searcy, Star City and Stuttgart.