AgCountry to return $42.5 million in cash patronage
FARGO, N.D. — AgCountry Farm Credit Services will return $42.5 million as 2018 cash patronage to eligible member-owners — the largest patronage amount to date for the cooperative.
AgCountry is a member-owned, locally-governed lending institution that provides credit and financial services to more than 18,000 farmers and ranchers in eastern North Dakota, western Minnesota and central Wisconsin. It also provides agribusiness loans and leases nationwide. AgCountry is part of Farm Credit System, a nationwide network of cooperative financial services institutions that serves rural America.
AgCountry patrons have received over $135 million in cash patronage since 2014. The patronage program grants the Board of Directors the ability to distribute a portion of the association’s net income to its member-owners when financial conditions allow for it. This marks the fifth consecutive year AgCountry will pay out a patronage dividend to its member-owners.
“We continue to see a tough economic climate across Minnesota, North Dakota and Wisconsin,” said Board Chair Leif Aakre. “Because of the strong position our association is in, it is important to give back to those who make our cooperative successful.”
“Our mission is to serve agriculture and rural America,” said AgCountry President and CEO Marc Knisely. “We are focused on fulfilling that mission regardless of the economic environment. Cash patronage is one aspect of our commitment to provide the best total solution for our patrons.”