This year we will mail $4.5 million in Cash Patronage Dividend checks to our member-owners in early 2021.
“Getting a Cash Patronage Dividend check shows that the borrowers of Premier Farm Credit are part-owners of a business that’s working for them,” said Becky Lenz, Board Chair. “$4.5 million dollars is a significant amount and demonstrates the Board of Directors’ commitment to supporting the member-owners of this lending cooperative – in good times and bad.”
This year’s substantial payout marks the 24th consecutive year Premier Farm Credit has paid a Cash Patronage Dividend, bringing the total returned in that time frame to $68.5 million.
“We’ve heard from our borrowers that it makes them feel good about who they are doing business with when they get their Cash Patronage Dividend Check,” President and CEO Michael Grauberger said. “It’s important to us that we return a meaningful amount while remaining financially sound and focused on serving agriculture and rural communities today and tomorrow.”
This year’s significant payout benefits not only the predominantly local farmers and ranchers who are the member-owners of Premier Farm Credit, but also the businesses in the communities where the members live and work.
As part of the Farm Credit System (established in 1916), Premier Farm Credit is a mission-driven lending cooperative owned entirely by its borrowers/member-owners. Sometimes referred to as an Association, Premier Farm Credit serves Northeast Colorado and the surrounding areas with loans, leases, insurance and appraisals for agriculture and ag-related businesses. They also provide rural home loans for residences in small towns and on small acreages. Premier Farm Credit has aggregate loan volume of approximately $770 million and has offices in Sterling, Fort Morgan, Yuma and Holyoke.