Farm Credit Midsouth to Return Patronage Approaching $6.8 Million
Distribution to Begin at Annual Meeting in February
Farm Credit Midsouth is pleased to announce its board of directors has unanimously approved this year’s all-cash patronage distribution totaling nearly $6.8 million for eligible members. Distribution will begin at the Association’s upcoming Annual Meeting next month.
“We all continued to face challenges with Covid-19 and increased costs throughout 2021,” said Dane Coomer, Chairman of the Farm Credit Midsouth Board of Directors. “But, Farm Credit Midsouth kept its solid footing and we find ourselves in a position to once again return a healthy patronage. We’re grateful, and we look forward to sharing that with our Members in February.”
“Farm Credit Midsouth has a strong history of positive patronage for our members,” adds President and CEO James McJunkins. “In 2005 we paid out about $3.7 million. Today we are pleased to have increased that amount to our current level, which stands at $6,799,476.36. In total, we have returned nearly $81 million to our Members since 2005.”
Farm Credit Midsouth (a part of the Farm Credit System) is a federally-charted cooperative providing over $1.24 billion in credit and related services to more than 3,500 agriculture producers and rural home owners in ten Eastern Arkansas counties (Clay, Greene, Craighead, Mississippi, Crittenden, Poinsett, Cross, St. Francis, Lee and Phillips) and three counties in Missouri (Ripley, Carter and Wayne) through its wholly-owned PCA and FLCA subsidiaries.