AgHeritage Farm Credit Services returns $6 million to Customer-Owners through its Patronage Program
AgHeritage Farm Credit Services (AFCS) will pay a record $6 million in profits to its customer-owners this spring through its Patronage Program.
The Patronage Program returns a portion of the association’s net earnings to eligible customer-owners. Patronage refunds are based on the proportion of interest paid on an individual’s loan to net interest earned.
“Since 2006, AFCS has returned $50.95 million to eligible customer-owners to invest back into their operations and the rural communities in which they live”, said AFCS President & CEO Greg Cole. “Paying patronage is key to our cooperative values and we are proud to offer this benefit to our customer-owners. 2020 was, to say the very least, a unique year, but having the ability to deliver such strong levels of patronage is a reinforcement of the value that our cooperative provides to agriculture and the rural communities we serve."
For more information on the Patronage Program, call 1-800-444-FARM to reach a local AFCS branch office.
AgHeritage Farm Credit Services is a financial cooperative with owned and managed assets of approximately $1.82 billion as of December 31, 2020. The company provides credit and related services to more than 6,030 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 and Stuttgart.