Farm Credit of Southern Colorado announces record cash patronage dividend of $7.5M
COLORADO SPRINGS, Colo. — The board of directors for Farm Credit of Southern Colorado announced recently that it will distribute a record cash patronage dividend to the farmers and ranchers it serves across southern Colorado.
The board of directors approved a cash patronage dividend of $7.5 million. This represents over 55% of Farm Credit of Southern Colorado’s net earnings going back to farmers and ranchers to invest in their operations, families and rural communities. Since 2010, Farm Credit of Southern Colorado has returned nearly $48 million to eligible customer-owners.
“We have worked diligently to remain a reliable and strong source of financing for our customer-owners in rural Colorado,” said Jeremy Anderson, CEO and president of Farm Credit of Southern Colorado. “Patronage dividends are a benefit of our cooperative business model. During these difficult and uncertain times for agriculture we believe returning a significant portion of our earnings to our customer-owners is very important.”
The 2020 dividend checks will be mailed to eligible customer-owners in April.
Farm Credit of Southern Colorado is a customer-owned financial cooperative proud to finance rural America, including young and beginning producers. With more than $1.2 billion in assets, Farm Credit of Southern Colorado is one of Colorado’s leading providers of credit to agriculture.
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