Farm Credit Mid-America returning $66 million in net earnings to Indiana customers

LOUISVILLE — Farm Credit Mid-America will return $66 million in net earnings to eligible customer-owners in Indiana during National Agriculture Week, beginning March 18.

The farmer-owned and led cooperative will return a total of $255 million to eligible customers this month, bringing the amount returned over the last eight years through its Patronage Program to $1.25 billion.

“As a farmer-owned cooperative, our customers have the opportunity to share in our success. This means our customers-owners may receive patronage, which is the capital a cooperative returns to its customers,” said Steve Witges, senior vice president of agricultural lending for Indiana. “Patronage week is quite exciting because patronage-eligible customers get to enjoy the financial benefits of being owners of our cooperative. Our team members equally enjoy the week because it’s another way we deliver value with a smile.”

Patronage is one of many benefits Farm Credit Mid-America’s customer-owners receive for belonging to the cooperative. They can vote for or seek election to the board of directors and nominating committee each year. They may also serve on the advocate council, a diverse group of customer-owners who represent rural communities and provide Farm Credit Mid-America with greater visibility into farmers’ challenges and operational needs.

“A key to offering our customers patronage today and into the future is a financially healthy cooperative,” Witges said. “We do this by working together and delivering quality loan products and services that meet our customers’ needs while also earning their trust and confidence.”

The board of directors votes to approve patronage annually. The amount of patronage that eligible customer-owners receive is proportionate to their level of transaction of eligible business with the cooperative during 2023. To learn more about Farm Credit Mid-America’s Patronage Program, including eligibility requirements and customer-owner testimonials, visit fcma.com/about/patronage.