Farm Credit Mid-America will pay $53 million in cash patronage dividends to eligible customer-owners in Kentucky through its Patronage Program this month. This amount is part of $210 million in total cash patronage dividends the financial services cooperative is returning to eligible customers in Indiana, Ohio, Kentucky and Tennessee. Since 2016, Farm Credit Mid-America has returned more than $858 million through its Patronage Program.
As a customer-owned cooperative, Farm Credit Mid-America understands that extra capital can make a big difference for a customer's operation.
"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," says Mark Barker, senior vice president of agricultural lending in Kentucky for Farm Credit Mid-America. "We enjoy hearing how patronage checks have a very positive impact on our customers' operations."
Farm Credit Mid-America's Board of Directors votes to approve the program annually. Eligible customers receive a patronage check the week of March 21 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 in a variety of ways. These include participation in annual Board of Director and Nominating Committee elections, the ability to vote on issues that influence the operations of the association, and the opportunity to serve on the Advocate Council, a diverse group of professionals and leaders from across Indiana, Ohio, Kentucky and Tennessee who deepen Farm Credit Mid-America's impact, relationships and support for customers.
For more information about Farm Credit Mid-America's Patronage Program and its eligibility requirements, visit e-farmcredit.com/Patronage.