|Farm Credit Services of America distributes largest dividend total in history|
|Written by Wauneta Breeze|
|Thursday, 29 March 2012 20:19|
Farm Credit Services of America (FCSAmerica) announced that customer-owners in 17 counties in southwest Nebraska served by the cooperative’s North Platte Marketplace are receiving checks totaling $4.4 million this month.
These checks represent the area’s share of a total $130 million cash-back dividends distributed by FCSAmerica.
“Customers can spend or invest their cash-back dividends as they wish, but past results suggest a significant percentage will be spent in the communities where they live,” said Mitchell Korf, Vice President.
The three local offices work with customers in Arthur, Chase, Cherry, Dundy, Frontier, Furnas, Grant, Hayes, Hitchcock, Hooker, Keith, Lincoln, Logan, McPherson, Perkins, Red Willow and Thomas Counties.
In Chase County, patrons will receive $266,000 back in dividends.
Financially, 2011 was a robust year for the cooperative, Korf said, due to new business growth, a decrease in credit losses, growth in loan volume and several other positive factors.
These favorable financial results enabled the cooperative’s board of directors to return the largest cash-back dividend in its history to customer-owners, while continuing to offer competitive interest rates and building capital for future generations.
The $130 million cash-back dividend for 2011 is the largest in FCSAmerica’s history and brings the total cash distributions since 2004 to more than $555 million.
FCSAmerica has adopted a patronage program every year since 2004. Each eligible customer’s cash-back dividend is based on the average loan volume during the calendar year. The more loan business a customer has with the cooperative, the more they benefit financially through cash-back dividends.
The FCSAmerica Board also approved a patronage program for 2012, with the total cash-back dividend to be decided by the board in December 2012.
For more information on the 2011 cash-back dividend distribution, including every county in the state of Nebraska, visit www.powerofownership.com.
|Last Updated on Thursday, 29 March 2012 20:20|