AgCountry members to receive $76 Million in cash dividends
Member-owners of AgCountry Farm Credit Services will soon discover the cooperative advantage as the farmer-owned lending institution announces a record $76 million cash dividend. For the third consecutive year, AgCountry has achieved its patronage goal of a one percent dividend on all eligible business.
With rising input costs, supply chain disruptions, and inflationary pressure, AgCountry member-owners will be receiving some welcomed news as dividend payments arrive in March of 2022 for business conducted in 2021.
“It truly pays to do business with AgCountry Farm Credit Services,” states Board Chair Ed Hegland. “As a farmer myself, I can confidently say that AgCountry’s dividend program sets us apart from other lenders.”
Of the $76 million, $67 million comes from AgCountry while $9 million comes from Farm Credit Services of North Dakota, who merged together on January 1, 2022. Since the cooperative’s patronage program launched in 2014, over $335 million has been paid out to AgCountry patrons.
“We work hard every day to fulfill our mission of service to agriculture and rural America,” said CEO Marc Knisely. “It is a pleasure assisting over 25,000 farm families, agribusinesses, and rural residents in achieving their financial goals.”
AgCountry’s 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.
About AgCountry Farm Credit Services:
Headquartered in Fargo, N.D., AgCountry has managed assets in excess of $10 billion and over 700 employees. They are a member-owned, locally-governed lending institution that provides credit and financial services to more than 25,000 farmers and ranchers in portions of Minnesota, North Dakota, and Wisconsin. They also provide agribusiness loans and leases nationwide. AgCountry is a part of the Farm Credit System, a nationwide network of cooperative financial services institutions that serves rural America.