FCSC continues to distribute cash patronage to customer owners
March 19, 2018
COLORADO SPRINGS, Colo. — Farm Credit of Southern Colorado, a rural lending cooperative serving southern Colorado, will distribute a $3.75 million cash patronage to its customer owners.
Nearly $33 million has been returned to stockholders over the last 10 years.
As a FCSC borrower, customers become a member of a cooperative — a business that is owned and controlled by those who use its services. As a cooperative, FCSC can return a portion of its profits to its members, the owners, in the form of a patronage refund.
"One of the most important financial benefits of being a Farm Credit member-borrower is having the opportunity to share in the association's profits," said Jeremy Anderson, FCSC president and CEO. "While most other lenders are returning profits to investors, by sharing our success with our member-borrowers, we are returning money to agriculture and the rural communities where our customers live and do business."
The amount is based on the co-op's solid 2017 financial results and was approved by the board of directors. Checks will be issued to eligible customers at the end of March.