AgHeritage Farm Credit Services (AFCS) will pay a record $8.5 million in profits to its customer-owners this year 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 $66.45 million to eligible customer-owners to invest back into the rural communities in which they reside,” stated Greg Cole, President and CEO of AFCS. “Returning a portion of our net earnings through our patronage program is key to our cooperative values, and we’re proud to offer this benefit to our customer-owners. The past few years have been difficult, but our cooperative’s ability to maintain such high levels of patronage is a testament to the value it provides to agriculture and the rural communities it serves.”
For more information on the Patronage Program, call 1-800-444-FARM to reach a local AFCS branch office.