Farm Credit Midsouth announced today its board of directors unanimously approved an all-cash patronage distribution for eligible members. The distribution, totaling approximately $6.6 million, will be made this February.
“Our cooperative continues to maintain a strong financial position to help our borrowers through both good times and bad,” said Board Chairman Chris Roberts. “We appreciate their continued trust and look forward to this winter’s distribution.”
“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 $6.6. million. Over those 14 years, we have distributed more than $68 million to our members.”
Farm Credit Midsouth (a part of the Farm Credit System) is a federally-charted cooperative providing over $1 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.