Farm credit Mid-America boosts farmers with $255M patronage

By Blake Jackson

Farm Credit Mid-America (FCMA), a beacon of hope and financial support for rural communities, is set to inject $255 million back into its farmer-owners' pockets through its annual Patronage Program. This exciting announcement coincides with National Ag Week, kicking off on March 17th, and brings the total patronage distributed by FCMA over the past eight years to a staggering $1.25 billion.

“Patronage Week is always an exciting time for us and our customer-owners. In a time of higher interest rates, patronage checks arrive at a critical time of the year and bring value to operations,” said Tara Durbin, chief lending officer at Farm Credit Mid-America. “Our Patronage Program reinforces our commitment to secure the future of rural communities and agriculture. We look forward to celebrating this with our customer-owners in March.”

Beyond financial rewards, FCMA membership extends far beyond mere transactions. Patronage is just one of the many benefits members enjoy. They actively participate in shaping the cooperative's future through voting rights for the Board of Directors and representation opportunities on the Nominations Committee. Additionally, the Customer Relations Council, a diverse group of members, directly connects FCMA with the realities and challenges faced by farmers on the ground, fostering a deeper understanding and more responsive approach.

The Board of Directors meticulously assesses the cooperative's performance each year and determines the patronage amount based on individual members' eligible business activities in 2023. This profit-sharing model underscores FCMA's core cooperative principles, ensuring its success is directly tied to the well-being of its members and the agricultural sector.

As National Ag Week approaches, FCMA's patronage announcement serves as a powerful testament to the cooperative's dedication to empowering its members and fostering a thriving agricultural landscape. This financial injection will undoubtedly fuel essential investments, stimulate local economies, and further strengthen the foundation of rural communities across the region.

Photo Credit: gettyimages-shotbydave