Checks mail the last week of January to farmers and ranchers in Iowa, Nebraska, South Dakota and Wyoming
OMAHA, NEBRASKA – January 26, 2023 – Farm Credit Services of America (FCSAmerica) is returning $341 million of its 2022 net income to farmers and ranchers in Iowa, Nebraska, South Dakota and Wyoming. Cash-back dividend checks were mailed January 26, 2023, and will be in the hands of the customer-owners shortly.
FCSAmerica is a financial cooperative that, for the past 19 years, has shared its success through its cash-back dividend program. FCSAmerica has returned more than $2.9 billion to eligible customer-owners since 2004.
This is money that has gone into the pockets of local farmers and ranchers to invest in their operations and families and to spend in their communities.
“The benefit of our cash-back dividends grows exponentially with every investment our customer-owners make in their businesses and community,” said Mark Jensen, CEO and president of FCSAmerica. “Cash-back dividends are an important part of sharing our success with our customer-owners and supporting rural communities.”
This year’s cash-back dividend is equal to 100 basis points – or a return of 1% of a customer’s eligible daily 2022 balance with FCSAmerica. In Iowa, this equates to a 2022 payout of $124.5 million. This puts the total net income returned to Iowa farmers, ranchers and agribusinesses in the past 19 years at $1.2 billion.
The share of the 2022 cash-back dividend going to Nebraska customer-owners is $112.9 million for a 19-year total of nearly $906 million. South Dakota and Wyoming customer-owners have been mailed $56.6 million and $6.6 million, respectively, in 2022 cash-back dividends. Since 2004, FCSAmerica has returned a total of $561.5 million to South Dakota and nearly $68 million to Wyoming.
Customers whose cash-back dividends are distributed to locations outside FCSAmerica’s service territory are not included in the state-by-state totals.
The Board of Directors for FCSAmerica also has approved a cash-back dividend to be paid from the cooperative’s 2023 net earnings, the amount of which will be determined in December.
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 $37.6 billion in assets and $6.9 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 fcsamerica.com.