Farm Credit Services of America Customer-Owners Receive $130 Million in 2011 Cash-Back Dividends
Mar 21, 2012
OMAHA, Neb., (March 19, 2012) – Farm Credit Services of America (FCSAmerica), a financial cooperative with assets of nearly $17 billion, announced today that eligible customer-owners in Iowa, Nebraska, South Dakota and Wyoming are receiving cash-back dividend checks totaling $130 million, as part of its 2011 patronage program. The checks are being distributed during the week of March 19, 2012.
Financially, 2011 was a robust year for the cooperative, due to new business growth, growth in loan volume and several other positive factors. These favorable financial results enabled the cooperative’s Board of Directors to return the largest cash-back dividend in its history to customer-owners, while continuing to offer competitive interest rates and building capital for future generations.
“Customers can spend or invest their cash-back dividends as they wish, but past results suggest a significant percentage will be spent in the communities where they live,” said Doug Stark, president and CEO.
The $130 million cash-back dividend for 2011 is the largest in FCSAmerica’s history and brings the total cash distributions since 2004 to more than $555 million.
FCSAmerica has adopted a patronage program every year since 2004. Each eligible customer’s cash-back dividend is based on the average loan volume during the calendar year. The more loan business a customer has with the cooperative, the more they benefit financially through cash-back dividends.
The FCSAmerica Board also approved a patronage program for 2012, with the total cash-back dividend to be decided by the Board in December 2012.
For more information on the 2011 cash-back dividend distribution, including every county in the states of Iowa, Nebraska, South Dakota and Wyoming, visit www.powerofownership.com.
About Farm Credit Services of America:
Farm Credit Services of America is proud to finance the growth of rural America, including the special needs of young and beginning producers. With assets of nearly $17 billion, 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. For more information, visit www.fcsamerica.com.