Farm Credit Mid-America is celebrating another large return to their customers as part of their annual patronage program.
“We are excited to announce that this year we are going to give over $260 million back in patronage to our member-owners,” says Natasha Cox, Senior Vice President of Agricultural Lending for Indiana with Farm Credit Mid-America.
This year’s total of $260 million is the largest return to Farm Credit Mid-America member-owners as part of their annual patronage program, which tops last year’s patronage total of $255 million, which was also a patronage record that topped the patronage total of $230 million in 2023.
“We’ve been doing this for nine years now, and we’ve given back over $1.5 billion to our member-owners,” she says.
The announcement was made to coincide with the start of the National Farm Machinery Show at the Kentucky Exposition Center in Louisville.
When will those patronage payments be delivered to member-owners?
“Those are going to hit our customers at the end of March,” according to Cox. “It couldn’t come at a better time. We look at the economic cycles in agriculture, the timing that we’re able to get this money in the hands of our member-owners to not only help them execute on their strategies, but also help them through some volatility in the market, we are just very excited to be able to give back on behalf of our member-owners.”
The amount of patronage that customers will receive is proportionate to their level of transaction of eligible business with the cooperative during 2024.
Cox adds that she and her team are ready to help you with your farm financing options for 2025 and beyond.
“We understand that there’s a lot of noise going on in the industry right now,” she says. “We look forward to sitting down with you about the opportunities that you have in front of you. If you need support, whether it be crop insurance long-term or short-term, financial products that you need from us, we’re here to serve you at your local Farm Credit office.”
Click HERE for more information about Farm Credit Mid-America’s patronage program.
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