Cooperative has returned $2 billion to farmers, ranchers since 2004
OMAHA, NEBRASKA – The Board of Directors for Farm Credit Services of America (FCSAmerica) announced today that it will distribute a record cash-back dividend to the farmers and ranchers it serves in Iowa, Nebraska, South Dakota and Wyoming.
The Board of Directors approved a cash-back dividend equal to 100 basis points, or 1% of a customer’s eligible average daily loan balance, for the financial cooperative’s 2019 patronage program. This represents more than $260 million of FCSAmerica’s 2019 net earnings going back to farmers and ranchers to invest in their operations, families and rural communities. Since 2004, FCSAmerica has returned $2 billion to eligible customer-owners.
“We built our financial strength for today, when agriculture most needs a reliable lender,” said Mark Jensen, CEO and president of FCSAmerica. “Cash-back dividends are a tangible reminder of the benefits of our cooperative business model.”
The 2019 dividend checks will be mailed to eligible customer-owners the week of January 27, 2020. This is two months earlier than in past years. The Board of Directors has approved a cash-back dividend program for 2020, with the amount of the distribution to be decided in December 2020.
About Farm Credit Services of America
Farm Credit Services of America is a customer-owned financial cooperative proud to finance the growth of rural America, including the special needs of young and beginning producers. With more than $30 billion in assets and nearly $6 billion in members’ equity, FCSAmerica is one of the region’s leading providers of credit and insurance services to farmers, ranchers, agribusiness and rural residents in Iowa, Nebraska, South Dakota and Wyoming. Learn more at www.fcsamerica.com.
